Can Senior Citizens Qualify for Term Life Insurance No Exam?

happy_senior_coupleOdd for becoming insured might not look favorable when you are a senior. Many insurance companies avoid working with senior citizens because they pose a bigger threat of dying than younger persons. An individual is considered senior citizen if he is more than 50 years old. The good news is that most of the standard policies accept persons up to 65 years old.

But after that, the only available policies are no medical exam ones.  Senior citizens can qualify for whole life or term life insurance no exam quite easily if they meet certain requirements.

Companies that sell standard policies do not want to work with very old persons due to numerous age-related diseases and disorders that may occur.  The only companies willing to assume the risk and liability are the ones selling no exam life insurance.  Without having to undergo medical examinations, the underwriting becomes easier and much faster. In several hours you will probably know if your application was accepted or not.

Age is no longer a major impediment if you apply for no exam life insurance. However, there are age limits even for this type of insurance. In most cases, the age limit is around 80-85 years. After that, it is almost certainly that you will no longer find life insurance.    So, you should hurry up.

You can get term life insurance for 5, 10 or 15 years. In some cases, you can convert the term policy into a permanent one, if the insurer agrees and you can afford paying the premiums. As you can imagine, no exam life insurance is significantly more expensive than standard life insurance.  Search for life insurance quotes before applying, compare prices and analyze your budget. Making an educated choice is the only difference between a good investment and a disastrous one.

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