Top Life Insurance Companies for Seniors

There are a lot of life insurance options out there for seniors. But which is best?

Choosing Life Insurance for Seniors

As it always is when it comes to choosing life insurance, you need to evaluate your financial situation first. You should also take your health and life insurance needs into consideration.

As a senior, it is also ideal to think about the remainder of your life to see if you have enough insurance coverage. If you don’t, then it is time to see if there are any better options out there.

Naturally, there will also be some challenges when it comes to getting life insurance as a senior. Rates may increase given any health conditions.

The key thing to remember here is that not every insurance policy is the same. This is why it is important to evaluate each one and see which one will be the best for your short-term and long-term needs.

If you are a senior who’s still working and to protect your income then a short-term policy may be ideal. On the other hand, you may want to opt for a longer-term life insurance if you want to cover final expenses.

Whatever policy you end up with, the companies below have the best reputations when it comes to offering life insurance policies for seniors.

Top Life Insurance Companies for Seniors

New York Life

New York Life is considered one of the top the best overall option for senior life insurance. They are the largest mutual life insurance company in the country.

They also have policies that favor seniors including a money-back option on some of their universal life plans. The company also offers living benefit options including chronic care and terminal illness.

Their clients also have the option to purchase paid-up additions on their whole life policy at a later time. They have different kinds of policies for seniors up to 90 years old.

John Hancock

John Hancock is another incredible company that offers life insurance for seniors. They have term, final expense, whole, and universal life options for their senior clients.

This prestigious company has incredible key policies to provide coverage for senior needs. They also offer accelerated death benefits, and flexible underwriting for health issues. John Hancock also offers potential premium refunds based on their client’s activity levels.

AIG

Next on the list is AIG, a company that has a financial strength rating of A+ from AM Best. This company offers the best term life insurance for seniors. Why? Because they offer a wide range of term policies for seniors.

The company even offers term insurance for seniors up to 80 years old who have health issues. Additionally, they also offer living benefits options. These living benefits allow their clients to access part of the value of death benefit early. This is, of course, if their clients are diagnosed with a chronic, terminal or critical illness.

All in all, AIG offers term life insurance with 18 different length terms. It’s a great choice for seniors looking for life insurance.

Research is the Key

Now, the companies listed above are not the only ones offering life insurance for seniors. However, they are considered some of the top ones in the country.

As always, research is always the key to finding the right insurance for you. Take your time to read more about the life insurance policies these companies offer, and see which one works best for you before making a decision.