In order to equip our clients with the knowledge to help them choose the best senior life insurance out there, we have written this Senior Insurance Company review which offers insurance policies to individuals from 0-85 years of age and additionally covers accidental death.
Review of Senior Life Insurance Company
About Senior Life Insurance Company
Senior Life Insurance Company was established in the 1970s and have proven their track of longevity, life insurance innovation, and growth. They have their stability proved and future secured. Their financial position as well is sustainable and constantly maintained. In addition, they pioneered the use of telesales in final expense insurance to increase production.
Senior Life Insurance Ratings
A.M. Best Rating
A.M. Best’s Senior Life Insurance rating is A+ and was given on the merit of:
- A strong commitment to their Policyholders.
- Their well-establishment and focus on growth and expansion strategy
- Their diversification of products
Senior Life’s BBB review attributes of A+ (Stable), is due to the following factors:
- Proven Stability
- Secured Future
- A sustainable financial position that is constantly maintained
An insurer rated ‘BBB’ or higher is regarded as having greater financial security characteristics, outweighing any vulnerability, and is more likely to have the ability to meet financial commitments. Therefore, Senior Life Insurance Company is ideal for the policyholder.
Senior Life provides policyholders with customer services enabling ease of access and use.
Senior Life Insurance Products
Senior Life provides Whole Life Insurance and Term Life Insurance plans
Whole Life Insurance Plans
Senior Life offers several permanent Whole life Insurance coverage plans offering cash value life insurance over the life of the policy. Individuals of ages 0-85 can access these plans, with face amounts ranging from $1,000 to $30,000 in protection.
Policy premiums never increase, and the benefits never decrease. Additionally, the policy cannot be canceled by the Company except for non-payment of premiums.
This is a simplified issue life insurance policy from Senior Life Insurance Company, you’ll just be required to answer basic yes/no questions.
In Whole Life Insurance Plans, there are three benefits available to select from:
- Immediate Benefit Plan
Senior Life Immediate Benefit Whole Life Plans covers the full amount from the moment the application to become a policyholder is approved and issued. In addition, these policies cannot be canceled by Senior Life except for the non-payment of premiums.
Senior Life also has a variety of these plans for clients with no health issues all the way to those with moderate health issues. This Immediate Benefit Plan, gives you have full coverage from day one.
- Limited Benefit Plan
Their Limited Benefit Whole Life Plans are designed to cover clients with moderate or significant health issues. In addition, these policies cannot be canceled by Senior Life except for the non-payment of premiums.
- Accidental Death Plan
Additionally, you can upgrade an existing whole life policy with Senior Life’s Accidental Death Benefit Rider. This, however, is only available for whole life policies and provides an accidental death benefit equal to the policy’s face amount. This added benefit is paid in addition to the face amount of the base policy if the insured’s death meets the “Accidental Death” guidelines as defined within the Rider. Thus you double the Death Benefit for an Accidental Death
Term Life Insurance Plans
Senior Life offers two Term Life Plans. Term Life Insurance plans are available for individuals who are 20 to 65 years, with face amounts ranging from $10,000 to $50,000 in protection.
Just like in the Whole Life Insurance Plans premiums never increase, and the benefits never decrease, additionally, the policy cannot be canceled by the Company except for non-payment of premiums.
Senior Life Insurance Company is one of many life insurance companies in the marketplace. There is no one size fits all company. Therefore, if you are considering Senior Life Insurance Company why not give TermLife2Go a call. We can help navigate you through the life insurance process and make sure you are aligned with the ebst company at the best price—for you—based on your unique need, health and lifestyle.
We are an agency focused on providing our clients with the knowledge and expertise they need to make the best decision on who will be their insurance provider. We pride ourselves on staying on top of the latest trends within the world of life insurance underwriting so that we can place each unique client with the specific carrier that will offer each client the best chance at the best coverage.
So what are you waiting for? Give us a call today for a free consultation and see what we can do for you!