When you purchase final expense life insurance, there can be a waiting period of four to six weeks while waiting for the application process to complete. Additionally, some policies require you to wait up to two years to receive a full benefit. This time creates a gap between when you need coverage and when it [...] The post Important Information on Final Expense Life Insurance with No Waiting Period appeared first on Affordable Senior Life Insurance: Cost and Coverage ..read more

I was 24 the first time AARP sent something to me. I laughed it off, thinking that I was a long way off from needing to worry about life insurance. As time passed, I kept getting the occasional flyer or email. I still ignored them, but it made me start thinking about how to protect [...] The post AARP Life Insurance with No Waiting Period: A Peace of Mind for Seniors? appeared first on Affordable Senior Life Insurance: Cost and Coverage ..read more

Insurance companies make money on the return of premium (ROP) policies through a strategic combination of investment, risk management, and actuarial science. These policies are a unique twist on traditional insurance, offering a refund of premiums if the policyholder survives the policy term. It can be advantageous for the insurer and the policyholder to use [...] The post How Do Insurance Companies Make Money on Return of Premium? appeared first on Affordable Senior Life Insurance: Cost and Coverage ..read more

Final expense insurance for cancer patients is possible. I know. When my grandfather passed away from Stage 4 liver cancer a few years ago, we had some time to look at coverage options to protect the family finances. He had spent four decades drinking and smoking, so no one was surprised when the diagnosis came [...] The post Is Burial Insurance Available for Cancer Patients? The Truth! appeared first on Affordable Senior Life Insurance: Cost and Coverage ..read more

I get an application for life insurance in the mail about once per week. Although I already have an excellent policy, seeing how the requirements have changed over the years is fun. As I’ve gotten older, the term-life options have changed to whole-life solutions. I also receive more requests for medical exams as part of [...] The post Why Do Some Life Insurance Policies Require a Medical Exam? appeared first on Affordable Senior Life Insurance: Cost and Coverage ..read more

A graded premium life insurance policy features a cost structure that gradually increases. Typically, the policy’s pricing starts lower than a traditional plan would cost, but they continue to rise annually for a specific number of years until reaching a fixed level. With a modified whole life insurance policy, you receive the same benefit of [...] The post Graded Premium vs. Modified Whole Life Insurance: Which is Right for You? appeared first on Affordable Senior Life Insurance: Cost and Coverage ..read more

While purchasing life insurance at a younger age is generally more advantageous, there can still be benefits to buying life insurance at an advanced age. It is an opportunity to leave a legacy for your family, pay for final expenses, or supplement retirement income. Sometimes, you can set up a life insurance plan to manage [...] The post Aging Gracefully with Life Insurance: 6 Ways it Can Protect You and Your Loved Ones appeared first on Affordable Senior Life Insurance: Cost and Coverage ..read more

My family had a meeting when I was about 11 years old. They wanted to talk to me about what would happen if something happened to them, like during a car accident. We talked about where I would live, what school I’d attend in that situation, and how I would survive financially. Although I don’t [...] The post What Life Insurance Starts Immediately? (and the one you should buy)! appeared first on Affordable Senior Life Insurance: Cost and Coverage ..read more

The first time I applied for life insurance, I was 19 years old. I’d been playing soccer in college, but a knee injury forced me out of school. Instead of returning to my parent’s home, I got a job. One benefit I received in that first job was no-exam life insurance. Although I was approved, [...] The post Skip the Medical Exam: Discover How Quickly You Can Get Approved for No-Exam Life Insurance! appeared first on Affordable Senior Life Insurance: Cost and Coverage ..read more

Buying life insurance doesn’t mean it’s immediately effective. Each policy has different requirements and timelines when the insurance becomes effective. Understanding the effective date of a life insurance policy should play an essential role in deciding which policy is right for you. What is Life Insurance? Life insurance is a contract between you (the buyer) [...] The post Is Life Insurance Effective Immediately? The Answer May Surprise You! appeared first on Affordable Senior Life Insurance: Cost and Coverage ..read more