The benefits of life insurance for seniors over seventy
Financial protection: Life insurance can help provide a financial safety net for seniors over seventy and their loved ones by offering coverage for:
- Funeral expenses
- Outstanding debts
- Medical bills
- Other financial obligations
Legacy planning: Seniors over seventy can use life insurance to leave a legacy for their loved ones or contribute to charitable causes. Life insurance policies can help ensure a smooth transfer of wealth while minimizing the impact of estate taxes.
Understanding whole life insurance for seniors over seventy
Whole life insurance is one kind of life insurance that is especially appropriate for seniors over seventy. It provides a certain amount of money to someone else when you pass away. The person who receives this money is called the “beneficiary” and the money that they receive is called a “death benefit” or “payout.”
Whole life insurance is a kind of life insurance that guarantees a payout to the beneficiary no matter when the covered person dies, as long as that person has active coverage, and the death happens outside of any waiting period (discussed later). Whole life insurance is different than term life insurance, which only provides the payout during a specified term of coverage, typically 10, 15, or 20 years.
Ethos offers to people who are ages 20 to 65 and to those who are 66 and older. People can apply for life insurance in a matter of minutes online with no doctor appointment or blood test, just a few health questions online, and our proprietary system will automatically route you to the product you are most likely qualified for. If you prefer, Ethos agents are happy to help you get the best life insurance policy for your needs at this number:
