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Senior Life Insurance Company Reviews

Senior Life Insurance Company Reviews.

Senior Life Insurance is a life insurance insurer that primarily sells burial insurance over the phone, but also offers life insurance quotes for other lines of business, such as term life, traditional permanent life insurance, and accidental death insurance. While they do have a staff of licensed agents working in the field, their core business is writing over the phone through television commercials that air on multiple networks.

They have some competitive plans, but one strange thing about them is that they are constantly pushing an additional service called Legacy Assurance. This program is designed to help price future funeral expenses, such as caskets, urns, memorials, and burial vaults. Compare the senior life insurance company reviews and benefits to select the best one.

Senior Life Insurance Company Reviews

When shopping for a life insurance policy, there are many things to consider, such as the type of policy and which companies and policies are best for your age, health, and financial situation. Some things to know when choosing the best senior life insurance company is who specializes in senior life insurance.

Senior Life Insurance Company Reviews
Senior Life Insurance Company Reviews

No complete review of senior life insurance policies would be complete without a review of the appropriately named Senior Life Insurance Company. This company is focused on providing final expense insurance for seniors. However, they also offer term life insurance for most ages. It is very important to check senior life insurance company reviews before buying.

Life Insurance Company Background Information

According to the Senior Life website, they have been incorporated since 1970. They started out-licensed in 6 states, but have recently expanded to 39 states and the District of Columbia. Its main objective is to dedicate its services “to finding innovative ways to equip its agents and serve its clients while maintaining a constant path of stability and growth”.

They pioneered the way in 2005 by using telesales marketing techniques to help increase production with bottom-line expenses.

The Senior Life Senior Management Team

Co-founder and CEO Dale R. Powell, Sr. began his insurance career in 1972 as a debit agent. He is responsible for setting the company’s direction, fostering operational cohesion, and mentoring Senior Life leaders. Mr. Powell led the construction of Senior Life’s new headquarters which opened in September 2013.

Best Senior Life Insurance Company States

Senior Life Insurance Company is currently licensed to sell life insurance in the following states:

KentuckyNorth DakotaNorth Carolina
DelawareMinnesotaRhode Island
District of ColumbiaMississippiSouth Carolina
IllinoisNew JerseyWest Virginia
IndianaNew MexicoNew York
Senior Life Insurance Company States

Pros and Cons of Senior Life Insurance Company

Senior Life Insurance Company Pros

  • 50 years of experience in the industry.
  • No medical exam required.
  • Specializes in life insurance.
  • Wide variety of products.

Senior Life Insurance Company Cons

  • The high volume of negative customer feedback.
  • Several complaints were filed.
  • Raw dating website.
  • Coverage not available nationally.
  • Very limited coverage options.
  • There is only one term option available.
  • Not rated by AM Best.
  • No discount information is available.

What Type of Insurance Does Senior Life Offer?

Senior Life focuses on life insurance. They offer the following types of coverage.

Whole life insurance: A policy that is guaranteed for the life of the insurer (or until given expiration dates), as long as premiums are paid, also builds a cash value.

Life Insurance Plans for Seniors
Life Insurance Plans for Seniors

Term Life Insurance – A policy that pays a benefit over a specified term (eg, 10, 20, or 30 years of coverage).

Whole Life Insurance Plans for Seniors

  • Policies build cash value and accumulate tax-deferred. Policyholders can borrow against this amount.
  • Death benefits never decrease, regardless of age or health.
  • Whole life products offer protection for people from 0 to 85 years old.
  • No medical exam is required. The issuance of a life insurance policy depends on the answers to the health questions contained in the application.
  • Most claims are paid within 24 hours of receiving the necessary documentation.
  • Coverage amounts range from $1,000 to $30,000 in protection.

Term Life Insurance Plans for Seniors

Senior Life Insurance Company offers two-term life plans for people who only need coverage for a 20-year period. No medical exam is required. Applicants only need to answer a few simple health questions to qualify.

For people between 20 and 65 years old. Policy face value amounts are $10,000 to $50,000. For smokers and non-smokers. Optional Accidental Death Benefit Rider is not available.

What Are the Top Best Life Insurance Companies for Senior People in 2022?

To know more about plans and policies follow senior life insurance company reviews.

SL. NoLife Insurance CompaniesRatingsMaximum Age Limit
1.Guardian Life5 star75-90
2.New York Life4.5 star 75-90
3.AARP5 star 74-80
4.USAA4.5 star 70-85
5.MassMutual5 star 75-90
6.State Farm4.5 star 74-80
List of top best senior life insurance company reviews for semnior people

Compare and Get a Senior Life Insurance Quote

How will you get senior life insurance company reviews?

There was a time when obtaining senior life insurance was extremely difficult as there were hardly any companies willing to write policies at today’s prices. Today is a new day and the competition has increased thanks to educated older adults who no longer allow themselves to be treated like second-class citizens.

With older people living longer than ever, research on almost any topic is made easier by a variety of online resources. When the online surfer requests articles or offers, he is better informed about the insurance and programs available.

Getting a senior life insurance quote is more difficult than other standard life insurance quotes. Premium costs depend on the age and health status of the policyholder. Because pension insurance is for older people, and they may not be in the best of health, premiums may be higher.

What Is the Average Rate of Senior Life Insurance?

Fortunately, most major insurance providers offer their products online. Therefore, you have a better chance of knowing what products are available, their range and price. When shopping, it is important to compare similar tariffs with similar conditions.

What Is the Average Rate of Senior Life Insurance?
What Is the Average Rate of Senior Life Insurance?

This is because a provider may offer a plan at a lower premium but with less coverage. Therefore, seemingly identical products can actually have different meanings.

The rate depends on,-

  • The type of life insurance policy.
  • Coverage value.
  • Gender
  • Health condition.
  • Smoker or not.
  • Profession.

Why Do a Senior Need Life Insurance?

Many people believe that as they get older, their obligations decrease and their need for life insurance decreases. But the truth is that older people often have equal, if not greater, needs.

Let’s know the reasons :

  • To protect your family.
  • Save tax.
  • Save meical bills andhospital bills.
  • Getting live benefits.
  • Best funeral services and arrangements.

Check the senior life insurance company reviews to know all the features are available or not.

What Discounts Does Senior Life Offer?

Senior Life does not provide information on their specific discounts, however, an independent insurance agent can find them for you. Independent insurance agents work hard to find all the discounts that qualify and other tricks to save money on your coverage.

Final Thoughts

Senior Life Insurance Company is one of many insurance companies out there. We hope this review has helped you understand a little better what they have to offer, as well as their limitations when it comes to their policies. Don’t forget to read senior life insurance company reviews for better purchasing

If you are looking for a certain type of life insurance policy, let us help you! Our focus here at Burial Insurance Pro’s is life insurance. That is what we do and what we excel at. The years of experience we have with our clients allows us the knowledge to know which company best suits your needs.

Frequently Asked Questions (FAQs) about Senior Life Insurance Company Reviews

Which Life Insurance Is Best for a Senior With Poor Health Condition?

You can get life insurance with guaranteed issuance without health questions or exam. These policies offer small amounts of coverage but are designed for people who want to cover a funeral and other minor expenses.

Do Anyone Need Life Insurance After Retirement?

If you have sufficient savings then you don’t need. But, if not then you need a life insurace plan for funeral arrangements, cover medical, and hospital bills and to make your family tension-free.

Is There Any Cheapest Life Insurance for Senior People?

Yes, You can choose term life insurance as a cheapest option of life insurance for senior people.

How Can I Choose the Best Coverage for Me?

When shopping for senior life insurance quotes, it’s important to remember to purchase enough coverage to meet your personal financial needs at the end of your life, such as: Funeral expenses and hospital bills. Many policies give you a fixed premium for the life of your policy. This benefit makes this policy easy to budget for when your income is steady or limited.

Senior Life Insurance Company Reviews.