Last Updated on April 15, 2017 by lifepolicyshopper
Age Considerations - Permanent Life Insurance Protection
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Ages 50 to 85
When looking for a final expense life insurance policy or a burial plan most companies look to issue policies to applicants within the ages of 50 to 85. Some however, stretch outside of this age range. Here at LifePolicyShopper we have access to the best final expense companies and can place you with a company that will be the best value not only for your age but also considering all health impairments that you may have.
A Burial Plan For Applicants Between The Ages of 85 and 90.
Here at LifePolicyShopper we have companies that provide life insurance protection for applicants between the ages of 85 and 90.
A permanent Life Insurance Policy for those younger than the age of 50.
For those younger than the age of 50, we have companies that offer excellent permanent whole life and no-lapse universal life policies. All of the permanent final expense life insurance policies we offer do not require a physical. However, if you are in good health, and below the age of 50, it would be to your benefit in the way of cost, to apply for a fully underwritten permanent life insurance policy.
Look At a No Lapse Universal Life Policy When you’re younger than the age of 50
For applicants in their 20s, 30s and 40s looking for a small permanent life insurance policy, we like to offer the no medical exam required, no lapse universal life policy. The protection is permanent where the payment never goes up and the death benefit never goes down. The difference with this type of policy is that it does not build cash value.
Age Considerations - Permanent Life Insurance Protection
It just accumulates some no lapse protection for ten years of the policy life and then it goes back to zero. The cost of these plans will be lower than a whole life plan. A drawback to these plans may be some may need the cash value in later years of the policy to use the automatic premium loan feature of a whole life plan if money gets tight on a fixed income. With a no lapse universal life policy there is no cash value accumulation later in the life of the policy to help pay a premium payment.
If you’re looking for a permanent life insurance policy that primarily pays for the cost of insurance – let us help you with a no lapse universal life policy.
Benefit Information For Virginia Citizens Only
You may qualify for a state-regulated program to pay for your final expenses. It is important you know how to qualify for this life insurance benefit available to you. This benefit will pay for 100% of all funeral expenses up to $35,000. This payment is tax free for Virginia residents. You are entitled to receive no-cost information as a resident of Virginia. IMPORTANT – Return this postage paid card within 5 days.
You or one of your senior parents may have received one of these post cards in the mail. It’s not a scam. It may have come from one of many outreach programs that I use to reach senior citizens here in the Commonwealth of Virginia that need state regulated final expense life insurance programs and burial plans.
Many seniors that receive these cards do not have a dedicated amount of money that can be used to pay for their funeral or final expenses. It’s possible they’ve recently checked into the pricing on what they currently have and want to see if they can find more benefits than what they currently have in place. Or they might want to leave behind a legacy like income for a surviving spouse, money for grandkids, or to a charitable organization or church.
These programs have the following guarantees
1. First Day Coverage. You are fully protected the very first day your coverage goes into effect with no exclusions and no waiting period.
2. Ease of issue. No physical exams.
3. Your premiums will never go up. Lock into a rate at your current age and the cost will never increase regardless of changes to your health and age.
4. You benefits will never go down. Regardless of changes to your health and age.
5. All programs build cash values.
6. The benefit is paid to your beneficiary tax free on the worst week of their life.
7. Your policy can never be cancelled as long as premium payments are made.
8. This is a protected asset that you will never be forced to liquidate.
Permanent Layer of Life Insurance
Call it final expense life insurance. Call it a burial plan. Call it permanent insurance. A permanent layer of life insurance is what will be with you throughout the remainder of your life after your working and family raising years. Unfortunately most wait to secure this layer of protection until they are in their 50s, 60s and 70s when it’s more expensive. We hope this information is helpful to you and assists you in making the most informed decision possible when it comes to securing a permanent layer of life insurance protection for your loved ones.
Quick Tip: Complete the Instant Quotes form to receive an instant listing of carrier quotes - free - with no obligation. You can begin your free online research - right now...