Best Life Insurance Companies for Seniors
There are hundreds of insurance providers that issue life insurance to seniors, so we’ve created a list of the best providers to compare life insurance quotes from.
#1 Mutual of Omaha
Insuring adults up to 80 years old, Mutual of Omaha offers a variety of life insurance products, including guaranteed term life policies. Its whole life and universal life products insure seniors up to age 85 and offer flexible premiums.
#2 AARP (Partnered with New York Life Insurance)
As part of its commitment to the community of retired people, AARP partners with New York Life Insurance to offer life insurance policies at affordable prices. The company offers a variety of riders, including living and accelerated death benefits, which allow you to use funds prior to the insured’s passing.
A top-rated insurance company, Guardian writes life insurance for terms between 10 and 30 years. Its whole life policies offer riders such as long-term care, disability, living, and accelerated death benefits for expanded coverage.
#4 Colonial Penn
Flexible rates, long-term coverage, and guaranteed policies make Colonial Penn a great option when it comes to buying life insurance for your parents. It offers policies without rate increases, long applications, or medical exams. Its policies are affordable and start at just $9.95 a month.
#5 Banner Life Insurance
A highly ranked life insurance company, Banner Life Insurance offers competitive rates on its life insurance policies. Banner specializes in term and universal life insurance and offers up to $10 million in term life insurance coverage. Banner’s whole and universal life policies come with optional riders for extra coverage. Additionally, medical exams are waived for senior citizens who are in good health, making it easier to get life insurance coverage for your parents.
#6 Lincoln Heritage
For a variety of options on life insurance choices, Lincoln Heritage is the insurer with the most permanent life insurance and term life insurance policy options. One way to get a cheaper policy is to opt for one that requires a medical exam. Even if your elderly parents are over the age of 90, they can be covered if they are in good health.
#7 American Family Insurance
With American Family’s Senior Whole Life policy, you can get life insurance coverage for your elderly parents quickly and easily. A simple application, and no medical exam, is all it takes to get lifetime coverage for adults between 50 and 80 to cover end-of-life expenses. American Family also offers underwriting on term life insurance as well.
The Best Way to Get the Best Deals on Life Insurance
When you work with an insurance agent, it’s hard to get an understanding of the ranges of life insurance costs and coverages between companies. Insurify takes away the guesswork by giving you quotes from multiple companies so you can easily compare them and choose the best one.
Insurify makes buying life insurance simple. All you have to do is answer questions about the coverage and policy you want, plus personal details about your parents. Based on this information, you’ll get quotes from leading insurance providers.
Comparing life insurance policies will help you get the best deal on life insurance for your parents. Insurify helps you get quotes quickly without having to talk to an insurance agent until you’re ready. Try Insurify’s quote comparison tool today so you can enjoy financial security while honoring your parents’ final wishes.