Life Insurance for Seniors: less paperwork and no medical examination

When most people think of purchasing life insurance, they think of a long drawn out process that involves a lot of paperwork, medical exams and even more paperwork. What many may not realize is that there are policies that allow you to get life insurance without going through all that work and a medical examination. Many companies are now starting offer senior life insurance. Senior life insurance allows older individuals to discover that they and their families can benefit from the right type of insurance.

While it is ideal to apply for life insurance at a young age, many individuals find themselves needing life insurance as seniors. If you are a senior and you need life insurance, there are senior life insurance plans that are designed just for you.

Many people believe that once they hit 55, there is no way that they will find a life insurer that is willing to approve them. This could not be further from the truth. In actuality, there is an entire market for seniors.

Life insurance policies that cater to seniors are designed for individuals who are between the ages of 50 and 89 years old, depending in which State you live.

Most insurers do not require seniors to qualify for a medical exam when applying for this specialty policy. Another great feature is that insurers offering senior plans will not cancel the policy because you are growing older or you fall ill.

Be weary of some companies and their marketing:

Don’t buy life insurance if the price seems to good to be true. You can not buy affordable life insurance for one dollar. If you see an ad for one dollar buys you $50K of coverage, read the fine print. Globe Life Insurance sells life insurance where the rates increase every five years, they also sell level benefit but make sure you read the fine print. Other companies like Monumental Life Insurance, Fidelity Life Association, Colonial Penn, AARP, NYLAARP, and others sell insurance without an exam and or offer accident only policy or term policies where the rates will increase after the first year or two or five. The key to finding the best deal is to compare multiple companies.

THE BEST WAY TO FIND A LIFE INSURANCE POLICY FOR SENIORS IS THROUGH AN INDEPENDENT FINANCIAL ADVISOR. HE WILL SHOP THE BEST POLICY FOR YOU WITH THE BEST COST AND BENEFIT.

Mintco Financial Team of Independent Financial advisors will help you get the best quote and policy.

Mintco Financial is a leading company in the seniors life insurance and is an independent company meaning they will shop through many carriers and choose the best cost/benefit policy for you.

Call at 813-964-7100 or visit the website at http://www.mintcofinancial.com/quotes/final-expense-life-insurance-quote/

Did Michael Jackson have Burial Insurance?

Michael Jackson’s funeral delayed because Janet wanted her $40K burial deposit back, says new book.

When it came time to bury Michael Jackson, the scheming over money did not cease. According to Sullivan’s book, Michael was not laid to rest until September 2009 (he died on June 25) because Janet would not allow it until his estate repaid her the $40,000 cemetery deposit that she had ponied up to secure him a spot at Forest Lawn in Glendale, California. 

If Michael Jackson had Burial Insurance, all the $40,000 cemetery deposit would be paid by the insurance - depending on his policy.

Buying insurance to finance your funeral may seem like a no-brainer - death is inevitable, after all, and somebody will have to pay.

While it's important to know how your funeral expenses will be paid, don't forget to look at other expenses your loved ones will incur after you're gone. 
When considering final expenses, take a step back and look at the bigger picture,if you were to pass away, will all the financial needs of your dependents be taken care of?
Consider other needs besides the funeral, such as paying medical bills, paying off a mortgage and protecting an estate for heirs.
Call us at 813-964-7100 and talk to one of our financial advisers to get a handle on what those expenses might be and the amount and type of life insurance to buy. Rather than purchasing a small, guaranteed issue life insurance policy or a preneed policy for your funeral, you might want to buy a larger, traditional life insurance policy, which could take care of funeral expenses as well as other financial needs your family might have. Keep in mind a term-life insurance policy will cover you only for the policy's term, such as 10, 15 or 20 years. Only permanent insurance, such as whole life or universal life, provides coverage no matter when you die.
Guaranteed issue plans for funeral expenses are marketed to seniors, but other types of permanent life insurance are viable options for older adults. Mintco Financial is a leading company in Burial Insurance and can get a Life Insurance for seniors over 80.

Call us now at 813-964-7100 or email us at anecamara@mintcofinancial.com

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