It's Guaranteed Issue Life Insurance Protection with NO Health Questions and NO Medical Exam
Guaranteed Issue Whole Life Insurance for seniors is a simple and convenient life insurance policy designed to help cover final expenses like:
With Senior Life Insurance, simply by being between the ages of 50-80, you are guaranteed acceptance without answering health questions or taking a medical exam. Policies range between $5,000-$25,000 in coverage which can be used by your beneficiary for any purpose, including final expenses such as burial and funeral costs, medical bills, and outstanding debt you may leave behind. According to a 2021 study by The National Funeral Directors Association (NFDA), the estimated median cost of a funeral is $7,848.
SENIOR LIFE INSURANCE
With a guaranteed issue whole life insurance policy, your help financially support your loved ones after you pass. Additionally, Guaranteed Issue Whole Life Insurance is a Permanent Life Insurance that guarantees lifetime coverage at a locked-in premium rate for the duration of the policy.
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An Accelerated Death Benefit Rider (ABR) is not a replacement for Long Term Care Insurance (LTCI). It is a life insurance benefit that gives you the option to accelerate some of the death benefit in the event the insured meets the criteria for a qualifying event described in the policy. The rider does not provide long-term care insurance subject to California insurance law, is not a California Partnership for Long-Term Care program policy. The policy is not a Medicare supplement.
ABRs and LTCI provide different types of benefits. An ABR allows the insured to access a portion of the life insurance policy’s death benefit while living. ABR payments are unrestricted and may be used for any purpose. LTCI provides reimbursement for necessary care received due to the inability to perform activities of daily living or cognitive impairment.
The activities of daily living are bathing, continence, dressing, eating, toileting, and transferring.
LTCI coverage may include reimbursement for the cost of a nursing home, assisted living, home health care, homemaker services, adult day care, hospice services or respite care for the primary caretaker and the benefits may be conditioned on certain requirements or meeting an elimination period or limited by type of service, the number of days or a maximum dollar limit. Some ABRs and all LTCI are conditioned upon the insured not being able to perform two or more of the activities of daily living or being cognitively impaired.
This ABR pays proceeds that are intended to qualify for favorable tax treatment under section 101(g) of the Internal Revenue Code. The federal, state, or local tax consequences resulting from payment of an ABR will depend on the specific facts and circumstances, and consequently advice and guidance should be obtained from a personal tax advisor prior to the receipt of any payments. ABR payments may affect eligibility for, or amounts of, Medicaid or other benefits provided by federal, state, or local government. Death benefits and policy values, such as cash values, premium payments and cost of insurance charges if applicable, will be reduced if an ABR payment is made. ABR payments may be limited by the contract or by outstanding policy loans.