Senior-Friendly Life Insurance Options: A Complete Guide

As individuals enter their later years, planning financially for end-of-life needs becomes increasingly important. Senior life insurance provides coverage for funeral expenses and other final costs.

There are several types of life insurance tailored for seniors.

Term life insurance covers a specific period, typically up to 20 years, and usually starts around US$50,000. Applicants often need health assessments to qualify, with healthier individuals paying lower premiums.

Burial life insurance is designed to cover funeral costs and support families during cremation or burial. These policies typically accept applicants up to age 85, regardless of health status, with face values ranging from US$5,000 to US$20,000. They also provide a cash benefit that can be used at the beneficiary’s discretion, offering financial flexibility after funeral expenses are paid.

To find the best fit, seniors are encouraged to compare online quotes suited to their needs and budgets.