Life Insurance for Seniors Over 70

As people reach their 70s, the need for life insurance also tends to change. Most seniors try to cover funeral expenses, provide for college tuition for grandchildren, and cover any unexpected medical expenses for surviving spouses. Term insurance may not always be the best life insurance for elderly people only looking for a small amount of coverage to pay for final expenses

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Why You Need It

Instead, life insurance for people over 70 should normally be permanent coverage like universal or whole life to cover final expenses such as burial costs or to pay off bills.

How much does whole life cost? Well, whole life insurance can be pretty expensive for seniors.

This is why people in their 70s should consider a universal life insurance policy which typically start at a $25,000 death benefit.

Universal life insurance for seniors offers a happy medium between term and whole life insurance. Similar to whole life, guaranteed universal life has a premium and death benefit which will last for your entire lifetime.

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Average Rates

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How Do I Apply For Coverage?

Most term and universal life insurance is medically underwritten. Although more expensive in cost, getting life insurance no medical exam required is still possible. So, it is important check into whether you can qualify for coverage before deciding which application process to pursue.

Please do not worry if you have a medical condition! Just because you have a medical condition does not mean that you will be turned down or need to pay the highest rates. If you can demonstrate that you are following your doctor’s orders you can also receive the similar rates to healthy applicants.

Gold Coast Life Insurance pioneered the concept of selling affordable life insurance by phone, mail, and internet on a nationwide level.

We assist consumers by providing affordable term and universal life insurance comparisons with easy to understand insurance planning concepts.

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Medical History

First, your general medical history is initially evaluated by our agents to determine which company may be best suited for your particular medical history.

Plan & Budget

 Next, your life insurance needs are discussed to find an appropriate plan and amount of insurance for your needs and budget.

Examination

Then, most insurance companies will also require you to do a brief insurance examination.

Find Rates

Your medical information and exam are submitted to several highly rated companies to determine which carrier would be willing to offer coverage at the most competitive rate class.

Underwriting

The underwriting process can take between 3-4 weeks depending on the details of your medical history.

This process allows us to provide you with accurate life insurance comparisons based on how your medical history fits with each company’s underwriting guidelines.

Get Started On Your Life Today

You can work with an agent to find a life insurance policy and can get a personalized, free, and no-obligation life insurance quote in just a few minutes. It’s that easy to start protecting your family’s financial future! Requesting a life insurance quote through AIG Direct is now faster and easier than ever!
With My Term Life Guy, you can get quality term life insurance coverage for less. Call now and save up to 60% on your term life policy compared to the same coverage through other carriers. That means you can get similar coverage for your money – and that’s always a good thing!

Frequently Asked Questions

Analyze and engage with user feedback, new releases, and valuable insights.

How Much Coverage Will I Qualify For?
How long does it take to get an insurance policy?
What kind of payment options are available?
Do I have to send a down payment with my application?
What if I have pre-existing conditions?
Should I replace my existing life insurance policy?