What Makes Elderly Life Insurance Different?
At some point in your life, you have probably seen ads for elderly life insurance. This is a type of life insurance that is guaranteed. There are no medical exams required and you cannot be denied for it, no matter what type of health you are in. What’s the catch? You will probably pay very high premiums for this elderly life insurance. Guaranteed life insurance is also known as elderly term life insurance. As you age, the probability that you will die soon increases. Unlike with a younger person, if you are past a certain age, insurance companies incur greater risk when insuring you. There is more of a chance that they will have to pay out death benefits if you take out a policy when you are older. As a result, your premiums will be higher than for a younger person. Elderly term life insurance, or life insurance for elderly people, is just as good as life insurance for younger people. If you die, your family can use the money to pay for your funeral or to pay off the mortgage. When yo
