Affordable Life Insurances for Seniors

Affordable Life Insurances for Seniors

While acquiring insurance as a senior might be expensive, it can help your family deal with any remaining financial obligations after you pass away. The funds can cover your funeral expenses, any outstanding bills, your mortgage, or your children’s education. In some cases, it can even be set away for retirement.

Age, gender, health status, lifestyle choices, and policy type influence your life insurance prices. Life insurance prices are higher for older people because insurers consider them to be more hazardous to insure.

Banner Life Insurance

Banner Life is the No. 1 Cheapest Life Insurance Company of 2022, with lower monthly premium pricing than the other firms in our ranking. Banner Life provides both term and universal life insurance. Customers can also get a quotation via the company’s website.

Banner’s term life plans include periods ranging from 10 to 40 years, which is one of the most diverse ranges in our evaluations. Despite the limited number of riders available, applicants can select from various options, including a Children’s Life Insurance Rider and an Accelerated Death Benefit Rider.

AIG Life Insurance

AIG is the No. 2 Cheapest Life Insurance Company in 2022, with pricing that is fairly close to Banner Life. AIG offers a wide range of plans, including term, universal, and whole life insurance. Other insurance does not need a medical examination.

Depending on your insurance, coverage amounts range from $5,000 to $10 million. Even though you may get an estimate online, you must speak with a representative before proceeding. Whole life, universal life, and assured issue are the three permanent life insurance alternatives available.

Guardian Life

The company’s permanent life policies offer flexible or guaranteed level premiums and a range of ways to customize coverage with riders. Long-term care, charitable benefit, monthly deduction waiver, and enhanced accelerated benefit rider, for example, are available as riders on their universal life insurance. 

Whole life insurance policies start at $25,000, while term, universal, and variable life insurance policies start at $100,000. Guardian Life pays dividends on its whole life insurance policy.

State Farm Life Insurance

The firm also provides premium discounts, like a multi-line insurance discount. This implies that you will receive a discount if you purchase many policies. However, the firm does not provide quotations online, which is a disadvantage. 

You can’t even apply for a policy over the internet. If you don’t want to deal with an agent, State Farm might not be the best option. You might be able to receive a policy the same day, depending on the policy.


There are several life insurance options for seniors; since life insurance is an important catalog for any individual, at a greater age, it’s more critical to have life insurance affordable and adjustable to your budget.

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