Best Whole Life Insurance for Seniors
Best Whole Life is all about one thing- WHOLE LIFE INSURANCE. In a world with so many options for everything, it is comforting when something like life insurance can be made simple. Best Whole Life provides simple, straightforward insurance plans for all ages and stages of life. However, our main focus is whole life insurance for seniors.
What is Whole Life Insurance?
Whole Life Insurance is a specific life insurance plan that lasts for your whole life. This is different to a term life policy which has an expiration date, meaning it TERMINATES. Whole Life Insurance has a set monthly payment that NEVER increases. Whole Life Insurance for seniors can also NEVER be cancelled, even as you age or develop health problems over time. NO medical exams ever required and the application process is super simple.
Approval can be as quick as 15-20 minutes with most whole life insurance companies. We even work with some guaranteed whole life insurance companies that don’t ask any health questions and your acceptance is guranteed.
Different Whole Life Plans
When applying for whole life insurance, you can qualify for one of three of the plans below:
- Level Benefit Plan
- Graded Benefit Plan
- Guaranteed Issue Plan
Level benefit is the best whole life insurance you can qualify for. It has the cheapest rates and coverage begins IMMEDIATELY after you make your first premium payment. Level benefit is also called whole life insurance with no waiting period. This is because it doesn’t have a waiting period like other type plans.
Graded Benefit Plan is the next best option to level benefit. Graded benefit plans have a partial waiting period that is usually phased in during the first two years. This means your death benefit is paid out differently during the first two years.
Guaranteed Issue whole life insurance is usually for those with severe health conditions. These plans are simple to apply for since no health questions are asked and your acceptance is guaranteed. Often called, whole life insurance with no health questions. Guaranteed issue life insurance plans ALL have a waiting period of two years. This means your policy won’t payout the full death benefit until two years has passed.
How to Save on your Whole Life Insurance Policy
Always shop multiple whole life insurance companies before buying your policy. Remember, you should NEVER buy a life insurance policy without shopping around first. The best way to buy life insurance, is to use an independent broker like Best Whole Life to assist you. An independent brokers work with many insurance companies which saves you time and money. Best Whole Life works with 25 of the best whole life insurance companies in the US. We have access to many plans that fit ALL health conditions.
Why Whole Life Insurance?
Life Insurance is about one thing- taking care of your loved ones. So the first reason to consider Whole Life Insurance is to make sure your family has the funds needed to take care of your final expenses when you pass. People who choose whole life insurance fall into a couple categories. Most common are Seniors who are transitioning from term policies or employer provided plans and need to take care of their final expenses so their families aren’t stuck with the bill. Other times whole life insurance is perfect for children’s plans because the extremely low rates are locked in for life and build up a savings account for the child as they get older.
Benefits of Whole Life Insurance:
- Easy application process
- Quick approval
- Rates guaranteed to NEVER change
- Lasts your WHOLE life
- Cash value builds
- No medical exams
- Fast payment to your beneficiary
Is Everyone Approved?
Regardless of health, everyone between the ages of 40-85 is GUARANTEED APPROVAL. The great thing about Whole Life Insurance is there are plans for everyone, regardless of health. For those in excellent health- we have a plan for you! For those with a few health issues- we have a plan for you! And for those who have serious conditions including cancer, requiring oxygen, or even a terminal illness- we have a plan for you too!
How Whole Life Insurance Works
Applying for Whole Life Insurance is quick and easy. Some people think of Whole Life insurance as burial insurance, cremation insurance, or final expense insurance. Part of that is thinking about what you want the money from your whole life insurance plan to pay for. When applying, you should know how much life insurance you would like for your family and what your final expense needs will be.
When deciding be sure to include:
- Cost of funeral
- Burial or cremation expense
- Debts to be paid
- Legal fees
- Monies to leave family members
After you apply, approval usually comes within minutes to 24 hours. For 90% of clients, your plan is effective DAY ONE upon receipt of first payment. They means that 90% of our clients get a whole life insurance with no waiting period. For those with more serious health considerations, a waiting period is needed. Best Whole Life is here to help.
Why Best Whole Life?
Best Whole Life is a brokerage agency that serves as a comparison service for you. We compare over 25 companies so you will get the best whole life insurance for your age and health. Companies like Mutual of Omaha, Royal Neighbors of America and Trinity Life Insurance to name a few.
Remember, the best way to buy whole life insurance is using an independent broker with access to multiple companies. Having LOTS of options is ALWAYS in your best interest. Once again, the main reason we work with so many different companies is because, each whole life insurance company will view you differently. It could be one medication or one health question on the application. So, its important to match the company perfectly to your individual health. This ensures you get the best whole life insurance plan at the BEST price.
Again, the application process is SUPER SIMPLE. Most of our whole life insurance companies have 8 to 9 yes or no questions on their applications. Plus, we can assist you 100% over the phone. We will NEVER have to come to your house.
We make buying whole life insurance for seniors easy and affordable. Request a free quote below or call us at 800-517-5131 to speak to one of our licensed agents.