Term Life Insurance for Seniors

Term Life Insurance for Seniors

Term Life Insurance for seniors is compartmentalised in two broad groups namely:

Conventional Life Insurance Policies, require a Medical Test along with a detailed Questionnaire on background. The medical tests include, Blood test, urine Sample and ECG As Well.

 Simplified Issue Term Policies do not require a medical test however they have a a detailed questionnaire with usually 30 questions however it has an immediate death benefit effective from the purchase date.

 Simplified Issue Term Policies can be further segmented into Deffered life Policies and policies shelving our immediate death benefits.

In Most Cases Deffered Life Insurance have ten Questions and the face Value is usually limited to $100,000 generally.

Following is a pricing Illustration for a traditional$100,000:

A Term Life Cover for a 65 Year old Non Smoker Male Vs Simplified Issue Term10 Policy

                Traditional $100,000 Term 10 is $86.31/month –BMO Insurance

                 Simplified Issue Term $148.59/ month – Canada protection Plan

                 Simplified Issue Deferred Term 10 is $232.29/month –Canada Protection Plan

 

* The Coverage is effective from Day One on the Simplified Issue Term 10 policy  with Canada Protection Plan with 31 questions .

**The Simplified Issue Deferred Term 10 policy with Canada Protection Plan has    ten health questions and the death benefit for non-accidental deaths is limited to a return-of-premium plus interest in the first two years

Articles you might want to read

26211hjfm8lkc7r10694kcfvqgvoz1

Stroke and Life Insurance                          Will my life insurance not pay out?

 

26734rihupgys3pagents

How is Insurance Priced?                               Honesty gets you the best policy

 

 

sicknessExtended family in living room smiling

      Critical Illness Insurance                                    Why buy Permanent Life insurance?

 

 

Created by: Aman Kapur

 

TESTIMONIALS ON YourInsuranceGuy

 

Randy n Nancy M.Randy and Nancy M have been clients of Aman for over 2 years: ” Aman has been able to help us with our insurance needs twice in the last 2-3 years. Our coverages have improved with his advise. He understands that our need for insurance stems from our love for our family. We feel extremely happy in meeting him and conversing with him. We praise his knowledge on the subject and his sincerity.”

VRaoPlease read what Vrao P. said about Aman on Linkedin: “Aman is a Sincere, Hardworking and dedicated, a detail-oriented Financial Genius watches the financial balance sheets without ever losing sight of the strategic objective. Aman brought excellence to his work as Financial Advisor and Mentor in guiding my Investments, has Very good management skills, People Skills and can keep the team spirit Lively always. As a Client, I feel absolutely great working with Aman and I can attest Aman to the success that he brought. I highly recommend him to any of his future endeavors. I wish Aman all the best in her future endeavors. Top qualities: Great Results, Good Value, High Integrity. .

 

 

Leave a Comment

Your email address will not be published. Required fields are marked *