Inexpensive Life Insurance For Seniors

The upmost need in everyone’s life in this polluted environment is Life insurance. Not everyone understands the criticality & importance and that is the reason why everyone does not purchase a policy. It’s really easy to buyan insurance when you are healthy and young, but as you grow old it becomes quite difficult to acquire a life insurance policy.

As we are well aware that insurance provide financial security but ever imagined what will happen if you die suddenly.Also these policies serve as a replacement income to them and family. Owing an insurance policy will not only help your kin survive but also give them a better future.

Although you save throughout your retirement throughout your employment period, still there is always a doubt about living the retirement age and that is the reason many life insurance companies pay instant annuity plans that are suited for senior citizens.

Well, it might be expensive for those in 50s and 60s, however, there are still many options available in the market. What benefits your insurance should provide you should be priority when choosing the options. Well, I will share multiple type of quick life insurance quote policies you can choose to quickly secure the future of your loved ones.

Guaranteed Universal Life Insurance

As the name suggest GUIL offers guaranteed death benefit which are similar to Whole Life Insurance. However, premium might be on a higher side compared to life policy. Given the choice to choose the age to end the coverage or to continue it for lifetime. An ideal policy for senior citizens, to pay their final expense and leave a legacy to their loved ones.

Whole Life Insurance

The insurance in comprehensive form providing coverage to holder and their family with no fixed policy period. The insured amount gets payed out to assigned nominees or beneficiaries. With no pre-defined age it becomes easy to buy Whole Life Insurance. Along with original insurance coverage this policy comes with saving components. Moreover, there are other benefits in this policy like growth cash value which gives you an access to your cash on form of loans and withdrawal.  You also get tax redemption and protection cover.

Reliance Life Super Golden Years Senior Citizen Plan

The policy which gives you a choice to choose between multiple investment funds with systemic investment plan to secure your future. Also giving you the flexibility to switch funds with numerous payment options. You also get commuted tax redemption.

Kotak Life Income Policy

Kotak Life Income policy can be bought with the minimum age of 45 years. It is a non-participating and non-linked annuity plan that gives you a lifelong steady income with higher rates. You can also buy additional annuity if you have received an immediate annuity.

Max Life Guaranteed Lifetime Income

The assured lifetime income where insurer gets an option to select joint or single annuity. With joint life options, the partner of deceased receives lifelong payout. The best thing with Max Life Guaranteed Lifetime Income is that there is minimum or maximum purchase price, however, the entry age must not be more than 50.

So, once you have finalized your policy, it is not at all difficult to apply for it. You can apply for online or through an agent, but don’t forget to compare the price. Go ahead and secure your and your loved ones future.

Written by 

Richard Johnson was the first one to blab on BlabShow. His amazing and informative blabs have boosted our site’s audience and continues to do so.

Leave a Reply

Your email address will not be published. Required fields are marked *