Final expense life insurance is only one method of making sure your family is protected. Read on for a less costly way of accomplishing the same thing.

1. lifenetinsurance.com http://www.lifenetinsurance.com/blog-0/life-insurance-over-80-keeps-your-family-worry-free
Life Insurance Over 80 Keeps Your Family Worry Free
Posted by Lenny Robbins on Aug 8, 2014 12:56:32 PM
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We all are concerned about our families. We love them and want them to
be safe and secure. As family members age we begin to think about what
will happen when their time is up. Who will pay for the funeral? Will there
be some outstanding bills? Who will pay those? This is where life
insurance for seniors over 80 can ease the worry.
Where Do I Begin?
Did you know that the average funeral in the US costs more than $7000?
Who will pay for your funeral? If you don't want to burden your family, life
insurance is a great option.
There are typically three different types of policies available in your 80's.
You cannot get quotes on line by yourself for these types of insurance.
Talking to an independent agent will help you decide which policy is the
best type for your needs. More importantly there are different
qualifications for each type of policy and you may not be eligible to
purchase all of them.
Our suggestion is to speak with an independent life insurance agent to walk you through the different choices. After
discussing your situation they will be able to tell you the best type of insurance for you and then they can help you find
the best pricing. Read this to see other ways an independent agent can help.
What are the Different Types of Insurance Available?
When you are looking for final expense insurance you want a policy that will last for your lifetime. That means
universal life or whole life insurance. Over age 80 there are restrictions about the amount of insurance available for
each type of insurance.
Universal Life Insurance Over Age 80- These policies start at $25,000 and up. Some companies start at
$100,000 and up.
Whole Life Insurance Over Age 80- If you want $25,000 or less of coverage this is your choice.
Guaranteed Issue Life Insurance Over Age 80- Available for $25,000 of coverage and less.
What About Price?
The answer depends on several things. First- how old are you? Second- the amount of coverage you want. Third- can
you qualify for each type of coverage? Fourth- can you afford it (if not, how much coverage can you afford)?
Universal Life will give you the most coverage for your premium dollars.
Whole Life Insurance is next in line.

2. Guaranteed Issue (also whole life- but no underwriting requirements) is the most costly.
How Do I Qualify?
The requirements for each type of policy are as follows:
Universal Life- This is a fully underwritten policy. You will have to take a paramedical exam. The insurance
company will order your doctor records. This process can take anywhere from 4-8 weeks before your policy is
in force.
Whole Life- This is a simplified issue policy. There is no exam needed. You have to answer "no" to a number of
health questions to qualify. Each company has minor differences in their questions so you may be approved
by one company but declined by another.
Guaranteed Issue- This policy has no underwriting requirements, however, the full face amount is not paid if
death occurs in the first two years from illness. The beneficiary would only receive the premiums paid. (If death
occurs by accident in the first two years the full face amount would be paid.)
Click herer to learn more about how to qualify for these policies.
The Bottom Line
Insurance over age 80 will give you and your family peace of mind. Work with an independent life insurance agent with
experience in the senior market. They will help you know what policies you can get, what your best options are, and
which company will give you the best price.
Topics: senior life insurance, final expense life insurance