How to Choose the Right Life Insurance Policy for Seniors Over 70


Life insurance coverage is beneficial for people of all ages. Seniors need affordable life insurance options for financial stability and peace of mind. While several viable life insurance policies are available in the market, buying insurance from a reputed supplier is essential.

Insurance expert Gary P. Cubeta from Insurance for Final Expense recommends going through Globe Life insurance reviews and reviews of other similar schemes to get a comprehensive understanding of what each policy offers. 

Most companies sell several attractive life insurance policies. However, it’s critical to carefully evaluate the policy and look at reviews before choosing a life insurance policy for your senior parent, relative, or friend.

Choose Between Term Life Policies and Whole Life Policies

Term insurance policies offer coverage for a specific number of years, whereas pure life insurance or whole life insurance policies don’t expire for as long as you continue to pay premiums. Whole life insurance policies may be more appropriate for seniors since the insurance plan is not taken for investment purposes. 

Experts like Gary P.Cubeta of Insurance for Final Expense feel that reviews like Globe Life insurance reviews show every minor difference between different kinds of policies. Term life policies allow seniors to pay fixed premium amounts till the expiry period. The cost of term life insurance is generally lower than the cost of whole life insurance policies.

Term life insurance policies allow “death benefits” to beneficiaries if the senior passes away during the policy term. Whole life insurance policies also offer a “cash value” in addition to death benefits. These policies also don’t expire after a fixed term.

Whole life insurance policies are more beneficial for seniors looking for more than just insurance coverage for their beneficiaries. There are several options like guaranteed issue whole life insurance policies and simplified whole life insurance policies to choose from.


Before you choose a life insurance policy for seniors, it’s essential to understand the coverage limits of the policies you’ve shortlisted. The coverage may vary based on the type of policy you choose, the senior’s health conditions, and their specific insurance needs and requirements.

Most whole life and term life insurance policies offer comprehensive insurance coverage. The coverage amount and limit are dependent on the insurance plan you choose. Compare different policies and choose the policy that offers the most effective coverage.

Cost of the Policy

Insurance specialist Gary P. Cubeta from Insurance for Final Expense recommends going through reviews like Globe Life insurance reviews to find out details about the costs of different insurance policies and ascertain if any hidden fees are present. 

The cost of insurance usually depends on the term of the policy and the coverage limit. Whole life insurance policies for seniors may be more expensive than standard life insurance policies. The companies may also consider the age and gender of the senior.

Policies for seniors with pre-existing health conditions are bound to be more expensive. The insurance company may study the severity of the health condition afflicting the senior to decide the insurance cost. Insurance providers may be reluctant to provide life insurance coverage if the senior has a health or medical condition that could bring about his or her death within two years. 

Terms and Conditions of the Policy

Analyze the terms and conditions of different policies to choose a compatible policy for your senior relative or friend. Go through the terms and details of various schemes available in the market.

The services of an insurance specialist can be of crucial importance in understanding what each different term means. Your insurance consultant understands financial terminologies and market terms. The agent or consultant can help you avoid paying more for clauses and terms you don’t need.

Medical Examinations

Insurance companies who provide life insurance coverage for seniors will insist on medical examinations for seniors who apply for life insurance coverage. If the senior has a pre-existing condition, you can choose a whole life policy specifically designed for people with pre-existing conditions.

Seniors will not have to undergo critical medical examinations or checkups to qualify for these policies. However, policies for people with pre-existing conditions typically come with shorter terms and lower coverage limits. The cost of the policy may seem higher when compared with the relative cost of standard whole life insurance policies.

There are many life insurance policy options available in the insurance market. It’s essential to review different policies before finalizing a policy for your senior relative or friend. Working with an expert insurance consultant or agent will minimize the risk of falling for life insurance scams and frauds.

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