Life Insurance For Seniors: Top 5 Providers for Comprehensive Coverage
As you age, life insurance options may seem limited, but there are excellent policies available for seniors that provide extensive coverage. Here are five places to explore life insurance for seniors.
1. Guardian Life: Guardian Life offers term life policies for seniors up to 75, providing up to 20 years of coverage. Whole life policies are available for seniors up to 90, starting at $25,000. Although lacking an online purchase option, Guardian Life is renowned for its solid reputation and customer satisfaction.
2. Mass Mutual: Mass Mutual caters to seniors with term and whole life policies. Term life coverage is available up to age 75, starting at $100,000. Whole life policies extend to age 90, with a minimum coverage of $25,000. With a stellar reputation and an online purchase option, Mass Mutual is an excellent hassle-free choice.
3. New York Life: New York Life offers term life policies with 15 or 20-year terms for seniors up to 65 and a 10-year option for those up to 75. Whole life policies extend up to age 90, with a minimum coverage of $25,000. While lacking online purchasing, New York Life compensates with its excellent reputation and flexible coverage options.
4. State Farm: State Farm caters to seniors with term, whole, and no-exam life insurance policies. Term life policies start at $100,000, with 20-year terms for those up to 65 and 10-year terms for seniors up to 75. Whole life policies have varying age limits, offering flexibility and outstanding customer satisfaction.
5. USAA: USAA, while primarily serving military members, veterans, and their families, extends life insurance options to all US citizens or permanent residents. Seniors up to 70 can explore term life policies, while whole life options are available up to age 85. USAA boasts a stellar reputation and allows the conversion of term policies into permanent ones.
Share your experiences or suggest additional places for senior life insurance in the comments below.
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