Life Insurance over 65 – Guaranteed Acceptance Insurance
Guaranteed acceptance life insurance is a product that is ideal for people who present a bigger risk to the insurance company because of their age, health, or both. When it comes to buying life insurance, 65 and up customers tend to have a more difficult time simply because of their age. The fact of the matter is that as you get older, your risk increases because you get closer to the day when you will eventually pass away. It is unfortunate, but that is how life insurance rates are determined. The people who are more likely to die will pay more for coverage.
When shopping for life insurance, 65 and up customers have one option that might be better than the rest. Guaranteed acceptance policies are designed specifically for high risk customers that might not otherwise gain approval for their protection. By taking the time to explore guaranteed acceptance policies, you can usually find an affordable rate that gives you the coverage that you deserve. It doesn’t matter what you are looking for because there is a solution out there if you are willing to invest the effort to find it.
Life insurance over 65 products are more limited than they are for younger adults. It might seem like they should be more accessible since there is a higher demand, but companies attempt to get people to purchase life insurance while they are young because the insurance company can make more money from a person who pays over time and doesn’t file a claim. Guaranteed acceptance coverage is created for all people who need protection. It sometimes comes with different limitations and exclusions, but it does provide the coverage that people need at a price that they can typically afford.
With guaranteed acceptance life insurance, you will be asked to answer a few simple questions, provide some personal information, and then be given a policy. There is no medical exam and you don’t have to answer pages of health questions in this type of policy. You just have to give a general idea of what your risk level is based on a short questionnaire and then you will be free to start the policy and get the financial protection that you deserve. This isn’t the ideal insurance product for some people, but when it comes to buying elderly life insurance, customers might not have much of a choice beyond this coverage.