Review of SENIOR LIFE Insurance Company
In order to equip our clients with the knowledge to help them choose the best senior life insurance companies out there, we have written this Senior Life Insurance Company review. The company offers insurance policies to individuals from 0-85 years of age and offers an accidental death policy to further supplement the company’s life insurance. But before we address the company’s products, let’s talk a little bit about Senior Life insurance.
About Senior Life Insurance Company
Senior Life Insurance Company was incorporated in 1970. By the year 2000, the Company had expanded to 6 states. And presently, Senior Life is available in 39 states. The company is a pioneer in the use of telesales in final expense insurance sales.
Senior Life Insurance Ratings
When we searched A.M. Best Company’s ratings for “Senior Life Insurance Company” we arrived at this page.It appears the company is not rated with AM Best.
When we performed a search for Senior Life Insurance Company we came across this page. It appears Senior Life has a BBB rating of B+, with 1 positive review and 23 complaints filed in the last 3 years.
Senior Life provides policyholders with customer service enabling ease of access and use. The company’s contact page provides a contact form, phone numbers, both local and toll free, as well as an email address.
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.
There are two different whole life insurance plans to choose from based on your health:
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. A normal term life policy and return of premium life insurance are available.
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.
Senior Life Insurance Company is one of many life insurance companies. 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 best 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 or visit our Term Life Insurance Quotes page and see what we can do for you!