Category: Companies

Can You Find Low Cost Senior Life Insurance?

If you are over 65, or if you are taking care of an elderly person, you may have gotten some offers for senior life insurance. There are a lot of big companies, like AARP, that market a variety of life policies for older people. A lot of older people wonder if they should buy a policy to help provide cash for their families when they pass away.

Families may need cash when a loved one passes away. Funerals are expensive. Families also have other things to pay for at this time. Loved ones may need to take time off from their jobs, travel, and feed mourners. This can be a very stressful time for everybody. Nobody wants to add money problems to the stress.

However, older people will cost more to cover than younger people. While you can compare senior life insurance rates to find low cost alternatives, you have to decide if this is a good financial decision for your family.

Consider an example.

Keep in mind that the numbers I use are from one example policy, and you need to compare quotes to find the exact rates and policies for yourself.

A typical premium for a $ 10,000 whole life policy for a 70 year old would be about $ 75 a month. In our example, the policy will be paid up at age 95. After 95, the policy is considered paid up.

If that same seventy year old does live until ninety-five, premiums wuold have been paid for twenty-five years. This means that they would have spent nine hundred dollars a year for the insurance. This would add up to $ 22,500 over twenty-five years!

Paying over twenty thousand dollars for a ten thousand dollar policy does not appear to make sense. If the insured person would have takent that same $ 75 a month, and saved it at a low 2 percent interest rate, they would have almost $ 30,000 after 25 years.

Of course, that is one example of how life insurance companies profit. They do have to pay out death benefits when people pass away, but they also have the opportunity to invest the premiums while their clients are still alive!

If the covered individual only lives for a year or two, he or she would only have had to pay about one or two thousand dollars for that ten thousand dollars that the family will get. The insurer would, in this case, probably lose money. The insurer will be taking some risk when they issue a policy.

Buying insurance is all about mitigating risk. There may be some alternatives that would make more sense at this point though.

Senior life insurance can have some advantages. If you cannot save money well, you will never have the opportunity to grow a savings account. Some families have an easier time paying a bill than setting aside money to save. It may just make more sense to buy a policy.

The example that I used was just one common policy. If you shop around, you may be able to find senior life policies that are cheaper with better policy terms. For example, you may find a policy that will be paid up after 10 years, instead of being paid up at age 95. Please compare rates and policies before you decide to make a purchase!

Learn more about senior citizen life insurance and alternatives. Find out how guaranteed life insurance works. Also find out more about no medical term life insurance for people of any age.


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Getting More Out Of Life Insurance For Seniors

Purchasing life insurance for seniors, especially those beyond the age of 70, should not be as complicated as you may think. Although some insurers may ask for higher premiums and other fees, the extra charge may be very well worth it, as your insurance needs may be much more than the average worker 50 years old or below, for example. What you will have to identify before you buy a life insurance policy is similar as to what you would ask as a younger buyer: how much coverage is offered, and how long the plan will be in place.

If you are over 70, there are some things that you have to receive from your life insurance coverage. For one thing, the plan should be able to provide you with immediate coverage, which simply means that should the policyholder pass on soon after the policy is implemented, plan beneficiaries will receive the full value as stated in the insurance contract. Keep in mind that cash value can be a nice bonus, but it should not be the main reason why you sign up with a provider for a certain insurance policy. Some experts say that policies providing full endowment will give the senior or any plan beneficiaries the full cash value of the plan once the policy reaches maturity or end-of-term. However, this may not exactly be a prime advantage as the cash value, in comparison to the face value amount, may be subject to considerable taxes.

In this case, you or your beneficiaries may feel the disadvantage if an expected tax-free policy payout turns into a taxable amount if you live beyond the end of the term of the policy. If you outlive your whole life coverage, for example, you should try to request a coverage extension, rather than take the cash payout.

For older seniors who are more likely to require extensive assistance due to a chronic illness or serious disease that could be aggravated by age, purchasing an insurance policy that comes with a terminal illness rider may be beneficial. This rider often comes at no extra charge if you request for its inclusion in your coverage. This type of insurance policy rider that specifically applies to life insurance for seniors can give the insured retiree access to part of the face amount prior to his or her passing on if he or she suffers from a diagnosed terminal disease.

Katherine Smith is an author who specializes in financial topics concerning seniors. Puritan Financial Group gives seniors professional retirement income planning advice and life insurance products. For more information on how Puritan Financial Group can help you, please visit our website at


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Online Truck Insurance Quotes

All trucks need to be insured and the penalties for failing to do this well outweigh the cost of the insurance policy. Online Truck Insurance Quotes are easy to get and there is no excuse for not getting a policy on time.

Insurance companies accept that people are busy and it can take quite a while to arrange a policy by post and it can be inconvenient to doing it over the phone. With the option to do it online there is no need to worry about office hours. The web is available 24 hours a day so pick the time that is most convenient and fill in the application then.

Online Truck Insurance Quotes run in the same way as all other policies do. There is the need to be totally honest with everything you answer or the policy can become invalid. This will be bad enough at anytime but if it is discovered just after there has been an accident it can lead to serious trouble and also the possibility of a serious bill being raised.

The forms are usually fairly straightforward to fill in, but it will mean that there is the need to put payment details in and this will mean either giving bank account or credit card details.

This is something that is done my many people on a daily basis and all reputable insurance companies will have a secure site so there should not be the fear of fraud. If unfortunately there is an accident and there needs to be a claim this can also be done on line.

The Online Truck Insurance Quotes also eliminate the cost of a phone call. This may not seem like an important factor for an individual, but a company with a great number of vehicles can find that a lot of time is spent arranging this. If it takes 15 or 20 minutes to go through the process on the phone if there are 70 or 80 vehicles involved it is a time consuming process.

While filling in the form for the Online Truck Insurance Quotes may not be for everyone as they prefer to use more traditional methods, this is the way forward. It will also be cheaper for the insurers as they do not have to have staff waiting for the phone to ring and as they often offer a free phone service this is another cost that they have to incur.

If you are looking for truck insurance, then you have chosen the right place. Pay a visit to our website and get a free quote today.


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Massachusetts Car Insurance Quotes

Car insurance has now been part of the law for the benefit of the driver and car owners. An advantage of getting a car insurance is that you won’t have a lot of problems in the bills if you et into an accident or other incidents.

Like in any other states, before deciding on getting that cheap car insurances in Massachusetts check first on the different insurance quotes. Most of the time these Massachusetts car insurance quotes online requires basic information such as your full name, address, city, state, and date of birth. 

Massachusetts car insurance quotes can be available for online but before deciding on that company you must also think of these following key points. The insurance company must have stable and licensed customer service. The Massachusetts car insurance quotes ca easily be given to your by the company representative together with the insurance coverage.

The company must also immediately look into your needs ad queries and constantly update and check you on their services. It can also be convenient to your part that you will be treated as a customer and aims for your satisfaction.

After getting your Massachusetts car insurance quote, also try to look into the available discounts which the company offers. Some of the available discounts you would want to avail from could be good driver and student discount, mileage, multi vehicle and policy discounts, antitheft, and other discounts which may you be catered to.

The state also requires that motorists have a minimum of $ 20,000 insurance for other person bodily injury per person and $ 40,000 for two or more. For personal protection for you and your passenger, you are required a minimum of $ 8,000 insurance. A property damage insurance of $ 5,000 is also a requirement in the state.

Though in many states, there are a lot of factors that affect the price of car insurance. Others consider the applicants age, the driver’s driving record, and also ones credit history. Also, students who have high grades can also avail o certain discounts and privileges. This is because companies consider students who have high grades are more responsible in drivers. Likewise, the car you own will matter. A brand new car will obviously have a higher price of insurance rather than second-hands. Safety alarms and other safety devices installed in your car will also aid you in getting discount for your car insurance.

Read more details about Boston vehicle insurance estimate and Massachusetts car insurance quotes.


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