Did you know there are senior life insurance policies now? That is the good news. Some more good news is that people are living longer which means they are working longer too. In response to all of this good news, the insurance industry has created a special category of life insurance and it is just for seniors. They realize the problem has always been once a person reaches the age of 50 it is near impossible to afford a new policy. Therefore, they leverage the buying power of all seniors by placing them in their own category. This has not only has reduced their rates but has also opened up some new opportunities.
This is not term life. These are whole life insurance policies that have been specially crafted to meet the unique needs of the over 50 shopper. Therefore, if a person has discretionary funds the senior whole life policies may be present them some with some rather unusual investment opportunities. Many people are reducing their estate tax by using them. There is some more good news. Furthermore, they can rest assured now that their grandchildren will have a future to build upon. All of this combines to make the new senior life insurance policies a smart choice today.
Now, many people might be thinking, what is the catch? There is none. The policies are great and in some cases, a physical exam is not even required. In addition, most applications can be done using regular mail or via email. Best of all though, the premiums will not increase. A person will be able to build cash deferred cash value while also protecting the ones they love all in a single premium. Finally, depending on their current health status, they will have several options to choose. The best thing to do is investigate this incredible opportunity right now.