My Account
Get Directions
It can be challenging for Plainfield, IN, seniors to find a life insurance policy that meets their needs, which is why many experts recommend buying a policy when you’re young or middle-aged. Even so, there are plenty of options available for seniors who want to ensure their surviving loved ones have funds to cover expenses.
What Are Your Options?
No form of life insurance is inherently better than the others. The best type of policy for you will depend on your age, financial situation, and state of health.
Term life insurance
If you’re healthy and you have a clean family health history, you may want to consider a 10- or 20-year term insurance policy. Such a policy can be ideal if you want to leave your survivors with a lump sum in addition to covering your burial expenses and paying large debts such as the rest of a mortgage or college tuition for a grandchild.
Final expense insurance
On the other hand, if you have a serious health problem, you may find that final expense and burial insurance offers the best value. This bundle doesn’t provide much money, but it can cover final expenses related to your death and funeral.
Guaranteed life insurance
Guaranteed life insurance can be another option if you’re in poor health, as you’re not required to undergo a medical exam to buy a policy. However, the final payout is likely to be lower than a term insurance policy would provide. Furthermore, if you die within two or three years of purchasing the policy, your survivors won’t get a payout.
Need Help? Gill Insurance Advisors Can Offer Expert Advice
Our team at Gill Insurance Advisors serves seniors in and around Plainfield, IN. We can help you review your options and select the coverage that best meets your needs and budget. Call us to find out more or start the process of buying a life insurance policy.