Having life cover is not important only when you are young and are starting a family. After retirement and after your time comes you always leave behind huge expenses which will become a burden for the ones who are left behind. You wouldn`t want to make such a terrible gift. That is why you have to think about getting Senior Life Insurance while you still can.
Many people don`t have other type of cover than the one their employer provides. And they also don`t know that after quitting or retiring you are left in the hands of destiny without any kind of cover. At that point it may be very hard or even impossible to get cover. Think about this before it affects you and start searching for companies specialized in offering Insurance for Seniors.
One type of policy is the type called pre-needs cover which means you get it from the funeral director and your funeral will be taken care of so your children won`t have to pay the bill and you won`t leave a bad memory behind. Of course for this type of cover you will pay the premium. Another option is to take a lump sum and prepay your expenses but the most common is purchasing a quite affordable whole life cover and you can delegate the beneficiary. You can contract this type of cover without having to take a medical exam.
Even if your health is not so good you can still get covered by a policy which will pay a limited benefit and will be a little more expensive but at least it will take care of your needs. Also this type of cover can get your estate tax liabilities minimized and also the benefit that the person you delegated will receive is tax free. You are eligible for this type of cover if you are aged between 50 and 80 years old and you will pay fixed premium that will not increase.
A Senior Life Insurance will mean payment of full benefits if in the first two years in case the death of the person who contracted the cover is accidental and limited benefits if the death is of natural causes. You can search online for specialized companies and for the offers they have for this kind of cover. You can purchase the cover online, by email and you can use the low cost senior life policy calculator to see how much it will cost you. Purchasing the cover while you still can will surely prove to be a wise decision. You can look for top 10 life insurance companies in uk to see what each company has to offer in terms of cover, premium rates and several other factor that will help you in buying an insurance policy and will help you deciding what’s best for you.