Life insurance no exam is usually lauded as one of the few options senior citizens can benefit from when in fact there are a number of other options placed at their disposal. It is important to know about these options to make best use of available options but it is possible for senior citizens to get what they want. One must admit that the life insurance options of the day are more accommodating for the senior citizens as compared to earlier times. Today, senior citizens want an independent existence and they want to take care of their needs and those around them instead of being looked upon as a burden. Here are some of the options they can explore.

– Whole life -this option may come off as something offbeat considering how little time left to senior citizens. However, because of the technological marvels that have also benefitted the health care field, medical practitioners have been able to keep on discovering medications that can lengthen the lifespan of the mankind. Who would have thought that the “fatal” tuberculosis back then would now take only six months to be cured? It is now possible for the elderly to outlive their term policies so if you have a positive outlook on your life and health, you would consider buying permanent plan.

– Term life -the average lifespan of men and women range from 70-80 years. This is the reason why as soon as most persons reach 50, they already count themselves as elderly. This is more often than not the basis for buying term plans. Normally, you can get one that will give you protection as long as 30 years. Since it is no longer advisable for senior citizens to hop from one insurance firm to another and fall in lines, they can just get instant term life insurance quotes. This may cost them some money but it will surely provide them the convenience that they well deserve.

– Single pay insurance -this can be permanent or term plan. The only difference that it has from usual policies is the payment scheme. As its name suggests, the plan owner will only pay for it one time in full payment. However, this is only for people who have deep pockets. For one to be qualified to purchase them, he must have the sufficient money excluding the portion allotted for healthcare and everyday expenses. The upside of such type of policy is that they can leverage it on the market and the revenue can grow double or triple. The proceeds would remain exempted from government tax.

– If you have a medical condition then no medical life insurance can be the choice for you. You can also look for special insurance options which are developed by specialized insurers for people with a medical condition. It also depends on the severity of the condition that how much benefits you may get in special insurance options. However, no exam option is not worth it due to high insurance rates and one must not buy this option without exploring viable alternatives. Underwriting process is also important and you can work on your underwriting profile to fetch more gains from your policy.

– Critical illness coverage -technically, this alternative is counted as a rider. However, because of its aptness with the unique needs of the elderly, it can be bought alone or together with a plan. In a nutshell, it gives the policyholder coverage when he gets afflicted by certain diseases. If purchased as a rider to a plan, he can get some money for hospitalization without having to worry about the death benefit to be left to the beneficiary as not even a penny will be withdrawn from it. However, you need to ensure that your illness is included in the list of the diseases counted by the insurance provider as critical.

– Guaranteed acceptance life insurance -this plan is ideal for senior citizens who have incurable medical condition and those who are not that keen to undergo medical exams. Also, it is for elderly who cannot face rejection. If you are any of the above, you can look for life insurance quote on line of this plan. The difference that it has with the usual no medical life insurance is that it pays for deaths which cause is accidental in nature.

If you have stepped into your later years then it could be the right time for you to look for these options which can cover for your needs in an effective manner.

Article by David Livingston of EQuote, who\’s a specialist in everything relating to life insurance. If you are interested in getting more information about cheap term life insurance or simply would like to learn more about life insurance no exam, you should visit his site today as there are a lot of information that you will find useful.

Article by David Livingston of EQuote, who is a specialist in everything life insurance. For more information, visit his site at http://www.equote.com/life-insurance/universal-vs-term-insurance/.

Author Bio: Article by David Livingston of EQuote, who\’s a specialist in everything relating to life insurance. If you are interested in getting more information about cheap term life insurance or simply would like to learn more about life insurance no exam, you should visit his site today as there are a lot of information that you will find useful.

Category: Finances
Keywords: life insurance no exam, instant term life insurance quotes, life insurance quote on line