Affordable Insurance Opportunities for Older People

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The American Association of Retired People is one of the many options by which an individual could choose to purchase insurance which is highly affordable and secured. Here are three of the policies which are made available by this organization through New York Life.

The Term Benefit Life

This policy can potentially cover up to $ 50,000 and will be made possible by just taking an exam regarding a few questions to avail oneself of the package without the need to undergo any medical examination. Extra term benefits can also be covered by this policy which could potentially amount to $ 50,500 to $ 100,000. To be able to be eligible for the application on the said policy, you need to be between 50 and 74 and the policy is good only until the covered individual reaches 80 years of age.

The Permanent Life

Like the previous policy, this can also cover up to $ 50,000 worth of coverage. However, the major difference from the previous policy is that this one will be valid as you live, without expiration. All it will take would also be answering some questions and no need to undergo any medical exams. This insurance policy could also allow you to enjoy significant financial savings because it has a cash value which is built on the insurance.

Guaranteed Accepted Life

This policy is seen to be the best life insurance among the three primarily because this would not require answering any questions or undergoing any medical examination. As long as you live, you can enjoy an insurance coverage of up to $ 15,000 if you avail of this policy. To be legitimate for application, the individual must be between 50 and 80 years old.

One of the drawbacks of this policy is more commonly known as the 2-year rule. This policy dictates that if death occurs in the first two years of buying the policy, and it is due to natural cause, the benefits received will be less. This is to prevent having people sign up with a few time before they die only to make single payments yet avail of the full benefits of the policy.

The above-mentioned policies also have 30 money back guarantee which will allow you to have a refund if in any case you are not or no longer satisfied with the company.

Older people don not have to go without insurance. As you can see, here are three ways to secure the insurance you need.

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Source by W. Green

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