Life insurance for seniors is valuable for a variety of reasons. One of the biggest reasons most people get life insurance is to be sure that all their debts are paid when they pass away. Even if you retired debt free, you did not stop living. With the change in your income, you may have taken on debts to be sure you could continue living the way you are used to living or even the way you intended to live for the 40 something years you worked for...more
As your 50th birthday is drawing closer, you might probably be thinking of the day you will stay on that chair near the window as you wait for the caregiver to come around and change your diapers. Every adult is worried on how their senior life will turn out, but one thing is certain: 70 percent of these adults will need long term care at some point in the future, particularly if they are incapacitated and lost any loved ones to help them with...more
Have you considered buying life insurance for seniors? Still weighing the pros and cons? There are quite a few things that life insurance can do for your family once you have passed on. Life insurance can leave you knowing that you have done all you can to be sure your family is taken care of. This will help you pass on peacefully, knowing that you have done everything you can before you pass away.What About Your Mortgage?If your house is not paid off, how will your spouse or family handle the mortgage payments? Adding a few hundred (or even thousands) dollars to their monthly bills is not fair, and may force them to sell a home that means a lot to them. They may have to sell their home, or your home. It could even force them to relocate. None of these things are anything you want to happen, but if you are not prepared, it could happen. If you have invested in life insurance, then you have taken a major step toward making sure that mortgage payment does not hamper anyone else. Your insurance can be used to make that payment, or even to pay off the house.Income ReplacementIf you are the only person making an income for your family, what are they going to do with you gone? You being...more
There are those among us still wondering if we need to invest in life insurance for seniors. The truth of the matter is that, unless you are independently wealthy or have been extremely meticulous in planning for every eventuality in your financial affairs, life insurance is probably a good investment. Most people do not plan to spend their last...more
There are quite a few reasons to spend the time and money to find life insurance for seniors. For many people, life insurance will provide the ability to leave an inheritance to your family, cover your final expenses or help to pay any outstanding debts you may owe. None of these expenses will disappear once you have passed away, and someone will...more
Many people are under the impression they do not need life insurance for seniors. Still others think that seniors cannot get life insurance. There are various reasons for this. Some say that senior life insurance is too expensive; some think you still cannot get it once you have passed a certain age. Some of us may think we have enough money saved that we do not need life insurance, and some of us may even think our debt will die with us. For most people, none of this could be further from the truth.The biggest reason that most people need life insurance for seniors is because of funeral expenses or outstanding debts. Funeral expenses alone are usually going to be around 6 to 7 thousand dollars in America these days, and you can expect that to continue to rise. Most of us will also have outstanding debts when we pass, unless we ceased to do anything but exist and managed to live off retirements. Many of us want more out of our retirements. To that end, many of us will end up taking on debts that will need to be paid off once we have passed.We cannot leave these debts to our children, not if we have any way of avoiding it. Not only that, but we likely do not want to leave our...more
Life insurance for seniors can go a long way toward protecting your investments, or providing your family with an inheritance. Think about all the things you own that you still owe money on. Maybe you have still got a car payment, or even a mortgage....more
All elderly people should seriously consider life insurance for seniors, especially if you have surviving family or outstanding debts. Life insurance provides an excellent way to insure your debts are paid, your funeral expenses are covered or to...more
There are many reasons one should own life insurance for seniors. They can range from simply wanting to pay for your own funeral expense to wishing to leave a lasting financial legacy for your family. Life insurance policies are insurance for your...more
The longer you live, the greater the chances you'll need some form of long-term care. If you're concerned about protecting your assets and maintaining your financial independence in your later years, long-term care insurance (LTCI) may be for you.Who...more
Fifty Plus Life Insurance Options Lots of us start evaluating our financial lives as we pass 50. We start to realize that retirement is just around the corner, and that there will no better time to make sure that we have made solid plans for...more
Insurance: consider your options carefully Choosing the insurance policy best-suited to one's needs and requirements is a difficult task. According to the Insurance Regulatory and Development Authority (IRDA), the life insurance sector in...more