Life Insurance for seniors, or anyone of the age of 50 for that matter, has become more and more affordable as Americans live longer and continue to expand their life expectancy. Though the actual product of life insurance doesn’t change from a 35 year to a 55 year old the way the insurance companies view the individual does change dramatically.

Though many Americans are living longer by eating healthy and exercising, most people by the age of 50-55 years have experienced some type of medical condition, whether high blood pressure, high cholesterol, diabetes, or more serious conditions such as heart disease and cancer. Making it even more important to find the right company for your unique situation.

Shopping the life insurance market on your own can be an overwhelming and daunting task, but there are many solutions out there for senior citizens and people over 50, which I have outlined below:

Shop Online For Senior Life Insurance

There are many useful tools and resources available online to make comparing senior life insurance rates easy for you. Many websites online have an instant quote engine available for use for free! All you need to do is enter some information about yourself on the quote form and click submit. After just a few seconds you will be able to view real time quotes for hundreds of life insurance providers. These are types of questions you can except to be asked on a life insurance quote form:
– Date of Birth

– Height/Weight

– Amount of Insurance You are looking to Purchase

-Length of Term (How Long You Wish to Keep The Insurance For)

– Smoker or Non-Smoker

– Health Class Rating -Preferred Plus,Preferred,Standard Plus,Standard, Rated)
*(If you have no medical conditions and you are well within range based on your height and weight, you may be able to get the “Preferred Plus” rating. Most Americans will not be preferred best, but preferred. If you have any minor medical conditions such as high blood pressure and high cholesterol it is a good idea to use a health class analyzer to determine your appropriate health class. Health Class Analyzer is a free tool many life insurance agents make available on the websites. You are asked a serious of health questions (such as what is your blood pressure, are you being treated for any medical conditions, and have your parents or siblings died from cancer or heart disease). Your answers are calculated and your health class rating will be displayed along with the senior life insurance rates from all carriers who qualify you for insurance. If you have had a serious medical condition in the past such as cancer you may not be able to use one of the online tools to view “table rated” prices. In that event, they would usually display for you a contact number to call an agent directly for a free no obligation consultation.)

– First and Last Name

– Phone Number

– Email Address

Instant Senior Life Insurance Rates

Shopping for life insurance for seniors online can make this process easy and painless for the consumer, but there are things you should know before entering personal information into a website.
Many life insurance brokerages have online resources and tools available for senior life insurance. These quote engines have the ability to display real time rates from the life insurance carriers directly, based only on the information you provide. In order for a website to display these life insurance rates they have to be a licensed agent. There are some websites out there that are known as “Lead Generators”. Due to the fact senior life insurance rates for a 55 year old are higher than say rates of a 35 year old man, senior life leads are more valuable to these lead generator websites because they can be sold for a higher amount.

What To Look For on A Website Before You Enter Your Information

– Disclosure/Privacy Statement
Many senior life insurance websites will have a link in their footer to their privacy policy or disclosure statement. On those pages they are required to disclose what they will be doing with your confidential personal information. If you see things like: “We don’t sell your information to any third party”; or “Your information is only used to quote your life insurance rates and this information is kept 100% confidential and is never released without your permission”. Websites with those types of disclosures and policies are usually your safest bet. If you don’t see a website with a link from the homepage to their disclosure/privacy page I would say they are most likely hiding it for a reason and keep look for a website you feel more comfortable with.

– Instant Life Insurance Rates or Real Time Life Insurance Rates
Again, in order to obtain real time rates from the insurance companies you have to be a licensed agent. Websites that provide you with this data for free, will not sell or distribute your information to any life insurance lead providers or third party agents. If a website does not display these rates to you they are usually providing your information to other agents. They are allowed to sell that life insurance lead up to 8 times (or to 8 different agents) in many states. If you do not wish to receive numerous phone calls and do not like being pressured to buy, I would suggest not using a senior life insurance website that does not display the INSTANT LIFE INSURANCE RATES to you online.

– BBB or Verified Security
Most legitimate senior life insurance websites are listed with the better business bureau, and or have a verified security seal on their site. For either a BBB or Verisign Seal their information had to be confirmed and the level of security on their website had to be tested. Seeing the logo is not enough. Click on it and read about the website. (Some lead generator sites will post images to fool you into thinking they are a member of the BBB, when in fact they are not). However, the trusted websites will pop up a new window providing you with their company rating and verified information.

– Testimonials
Many website owners provide to you testimonials and reviews from past customers and consumers. You can read the reviews they display to you online (But then again what site owner will display a negative review!). Sometimes it is a good idea to search the website domain or company name into a search engine and see if there is anything available that can help you make this decision.

Once you know what to look for and what to avoid when shopping for senior life insurance online the process becomes very easy. Senior life insurance can be expensive with some carriers so it is important to find the right company for your unique situation, and using a brokerage or independent life insurance agent website allows you to do that.

Post contributed by Hilton Miranda

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If you are thinking about taking out a life insurance policy, you might be feeling a bit confused by all of the different terms that are being thrown at you. After all, many things are included within a life insurance policy and understanding the various terms and the sections within one of these policies can be quite difficult for someone who has never had a policy before. To help you gain a better understanding of what you are reading in a life insurance policy, here is a look at the six sections that ever policy contains.

Section 1: Description of Benefits

The first section of a life insurance policy is the Description of Benefits. The Description of Benefits section includes all of the following:

• The name of the person being insured
• The policy number
• The type of policy
• The issuance date and the term of the policy
• The amount of coverage
• Any riders included with the policy
• Any additional information necessary to describe the benefits

Section 2: Owner Rights

The Owner Rights section of the life insurance policy describes your rights in terms of changing your policy and transferring it to another person or entity.

Section 3: Beneficiary

The Beneficiary section lists the beneficiaries of your life insurance policy. If you have more than one beneficiary, this section will also state percentage of the benefit that each beneficiary is to receive. Be sure to carefully consider the percentage you want each beneficiary to receive, as this section of the policy cannot be changed without issuing an entirely new policy.

Section 4: Cash Value

The fourth section of the life insurance policy is called the Cash Value section. The actual cash value of your policy will be listed here, including the cash surrender value of a whole life insurance policy. This section will also describe what will happen to the value of your policy if you miss a premium payment.

Section 5: Guaranteed Payment Tables

The Guaranteed Payment Tables section describes exactly what your beneficiaries will receive if you should pass. This section is particularly important when purchasing a whole life insurance policy, as it will describe the exact value of the policy at any given time if the premium payments are paid on time.

Section 6: Lapse

The lapse section describes what will happen if you are unable to pay premium costs due to job loss, illness or other factors. Here, you will learn how long your policy will remain in effect after you stop making your premium payments. If the policy ceases to be in effect immediately after you miss a payment, you might want to consider obtaining your life insurance policy from a different company.