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How to Find Affordable Life Insurance for Seniors Over 70

August 28, 2018 at 1:50 am / by

Many people still assume that it is prohibitively difficult for senior citizens to get life insurance. This is largely because just a decade ago, most insurance companies would avoid underwriting this group. Today, they are among the first to chase after them. As the insurance landscape changes, the focus now shifts on which company can offer the best and most affordable for seniors. If you or someone you love are looking for an affordable coverage from www.lifenetinsurance.com, there are a few things you need to know to point you in the right direction.

 

Understand term life insurance vs whole life insurance

Senior life insurance for baby boomers aged over 70, even the most affordable ones, are going to cost more than those of younger people. If the cost is a major consideration then you should begin by choosing either a term or a whole policy. A term life insurance costs less but it typically comes packed with valuable features including fewer health requirements and higher coverage amount. A whole life insurance, however, is a popular choice because it covers most, if not all, pre-existing health issues. Check out this website at http://www.huffingtonpost.com/topic/insurance and learn more about insurance.

 

Stop bad habits to enjoy lower premiums

Bad habits such as smoking typically shoot up the cost of senior life insurance at www.lifenetinsurance.com. This is for the obvious reason that such habits are very likely to cause health problems that will cost the insurance company more. Insurance experts advise that you should give up bad habits long before you apply for life insurance for seniors over 70 to increase the chances of getting good insurance coverage at a much lower price. This is particularly important when applying for a whole life insurance that demands rigorous health checks.

 

See your doctor regularly

An insurance underwriter will give a more favorable senior life insurance quote to an applicant who gets regular health checkups and follows the doctor’s medical and health recommendations. Such an individual is considered good at taking care of themselves and are a less risk to the insurance company. If you suffer from common elderly conditions such as Alzheimer’s disease, showing that your doctor gets to check on the state of your health will go a long way to help you get more affordable life insurance.

 

Just because you are 70 or older does not mean a senior life insurance will be very expensive; besides these three points, you should also make sure that you consult the right carriers before making up your mind on which insurance cover to buy.

 
 

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