When it comes to life insurance, seniors over 50 can often find themselves facing higher rates than those who are younger. However, that doesn’t mean that securing life insurance is impossible – it just means that you need to be a little more diligent in your search.
The best way to find life insurance rates for seniors over 50 is to compare quotes from different insurers. This will give you a good idea of what the market looks like and help you find the best deal possible.
It’s also important to remember that life insurance rates increase as people get older, so don’t wait too long to secure coverage. The sooner you buy life insurance, the lower your rates will be.
Finally, be sure to consider all of your life insurance options, not just term life. Whole life coverage can be a good option if you want to protect your family after your death while also providing for them during your life.
What are the Top 3 Best Life Insurance Rates for Seniors Over 50?
The life insurance market is a competitive one, and senior life insurance rates vary from carrier to carrier. The following three insurers – all members of the Assurant group – regularly offer some of the best life insurance rates for seniors over 50:
● American General Life Insurance Company
● Gerber Life Insurance Company
● United of Omaha Life Insurance Company
Of those three companies, American General offers some of the lowest life insurance rates available. Seniors over 50 looking for life insurance coverage will often find that quotes from American General are more than 25% lower than those from other top-rated life insurers. In addition, as an A+-rated company, American General has been recognized by both Standard & Poors and AM Best for its financial stability.
If you’re looking for life insurance coverage that will last throughout your lifetime, then you should also consider Gerber Life. Gerber offers both term and whole life policies, with rates that are often more affordable than those of its competitors. And, because Gerber is a mutual company, any profits generated by the company are returned to its policyholders in the form of dividends.
Finally, United of Omaha is another top life insurer for seniors over 50. United of Omaha offers a wide variety of life insurance products, including term life, whole life, and universal life policies. What’s more, as a mutual company, United of Omaha has no shareholders – meaning that all profits are returned to its policyholders.