Best Life Insurance Seniors No Exam in New York

BUFFALO, N.Y. - Nov. 10, 2020 - PRLog -- Many seniors think that it's too late for them to buy life insurance, but that's not the case. While it may be harder to get a traditional life insurance policy, there are many no exam life insurance policies designed specifically for seniors. No exam policies allow you to skip the medical exam and still get coverage. Sometimes, the coverage is limited and the monthly premiums are high. But for many, the available coverage is enough and the premiums are affordable.

Final Expense

Final expense insurance is another type of insurance that's specifically designed for seniors. Unlike other types of life insurance, in which the beneficiaries can use the death benefit however they want, the death benefit from final expense life insurance is designated to cover the policyholder's final expenses. This can include funeral and burial costs, and any other medical costs that might be incurred toward the end. The average funeral can cost between $7000 and $12,000, which means having final expense insurance can save a person's loved ones from assuming a heavy financial burden. In some cases, adult children purchase this kind of insurance for their aging parents.

Final expense coverage can range between $25,000 to $100,000 and policies can be issued for applicants up to 90 years old. Final expense is a type of whole life insurance, which means there is no expiration date. Approval can often be instant after the applicant fills out a short application.

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