Life insurance plays a different role during every stage of life. Younger adults who purchase life insurance typically have children to financially support. For seniors, however life insurance has a different purpose. Seniors often wish to plan for costs such as covering funeral expenses, equity protection, financial obligations, etc. An average funeral costs upward of $12,000; life insurance is a good way to ensure that this financial burden doesn’t fall to your loved ones.
Life insurance gets more expensive as you age. Even still, life insurance for seniors might cost less than you think. Most of the policies for seniors fall into the permanent life insurance category, and these policies do not expire as long as premiums are paid.
Health and age play a huge role in cost and coverage, contact us today to see which plan best meets your unique needs.
As a homeowner, being able to pay your mortgage on time every month is critical. Who will pay your mortgage in the event of your death? What would happen to your family if you became disabled, or critically ill and your income was now gone?
Don’t lose your family’s home and most valuable asset by failing to plan.
Mortgage protection insurance offers peace of mind, knowing that your family home won’t be foreclosed due to loss of income. It functions much like a life insurance policy. You pay a premium to the insurance company to purchase a specific amount of mortgage protection coverage. The premium is based on your age, health, and mortgage balance. If you die while the policy is in force, the insurance company provides the funds to pay off your mortgage. Some insurance companies offer a cash-back option which means you can be reimbursed at the end of the term if the policy isn’t utilized. We can help you find the right company for your family!