Policy Types

Life Insurance for Seniors

This article presents three ways senior citizens can find inexpensive life insurance, some without medical exams or underwriting, to help pay for funeral and final expenses.

3 Ways Seniors Can Find Cheap Life Insurance

Are you a senior citizen in need of a life insurance policy? Trying to figure out how to get the coverage you need without taking too big of a slice out of your savings and/or retirement accounts?

By now, you've probably figured out that finding affordable life insurance after a certain age can become rather pricy. But don't let that stop you. Here are three ways that may be able to help you get the coverage you need for funeral and final expense life insurance without going broke.

Opt-in for Group Coverage at Work.

If you are still working, check with your employer to see what type of group life insurance plan is available to you. It may not be much, but if you're looking for final expense coverage, this could be the ticket. Moreover, these types of life insurance policies typically don't require any medical exam or underwriting, and can be ridiculously inexpensive.

Get a Lot of Quotes.

Insurance companies are all different. Based on your age, health, and other factors, one company may see you as more of a risk compared to another. Don't let one life insurance company's sky-high rates prevent you getting the coverage you need. Get a variety of quotes from reputable companies and compare rates apples to apples.

Consider Senior Organizations.

Certain advocacy organizations such as the American Association of Retired Persons (AARP) and the Association of Mature American Citizens (AMAC), provide their senior members with discounts on a variety of insurance types, including life. Many offer no medical exam life insurance policies.

Whether you purchase a new policy from your employer, an agent, or through one of the many senior organizations, be sure to read the fine print and know the type of policy you're buying. If you're not sure about certain policy types or are confused about insurance terminology, then find out who you need to speak with to get the clarification you need.

For more information on finding affordable life insurance, visit the Protective Learning Center.

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All Learning Center articles are general summaries that can be used when considering your financial future at various life stages. The information presented is for educational purposes and meant to supplement other information specific to your situation. It is not intended as investment advice and does not necessarily represent the opinion of Protective Life or its subsidiaries.

Neither Protective Life nor its representatives offer legal or tax advice. We encourage you to consult with your financial adviser and legal or tax adviser regarding your individual situations before making investment, social security, retirement planning, and tax‐related decisions. For information about Protective Life and its products and services, visit www.protective.com.

Cheap Life Insurance

Are you a senior citizen looking for cheap life insurance? Then consider these three ways for getting cheap life insurance without sacrificing coverage. An affordable policy may be in reach. Be sure to understand the benefits of different types of life insurance policies, such as group policies at work. Obtain life insurance quotes often to ensure that you're receiving the best rate and the best option for your family. Seek out organizations that may be able to provide discounts, as well as support in choosing the right life insurance. For more information, visit our learning center.