Adler Insurance, your local Prescott insurance professional, answers: Can seniors get life insurance?

Adler Insurance knows that finding the right insurance coverage for Prescott seniors can get confusing. And many seniors wonder if they are eligible for life insurance. At Adler Insurance, we promise to find the right insurance to fit your particular needs.

We specialize in:

• Medicare Advantage Insurance
• Life Insurance
• Medicare Supplement Insurance
• Medicare Part D Prescription Drugs
• Long-Term Care Insurance

For example, term life insurance may be an excellent choice. Depending on the term length, the policy pays a death benefit to your beneficiaries if you pass during the term.

It’s a fact that age plays a significant role in purchasing insurance for seniors. And while there are some age restrictions (varies from company to company), the age limit for life insurance is probably higher than you once thought.

Common age cutoffs are:

• Age 80 for a 10-year term   
• Age 75 for a 15-year term
• Age 70 for a 20-year term
• Age 55 for a 25-year term
• Age 55 for a 30-year term

Permanent life insurance, generally a more expensive form of insurance, that covers you for the rest of your life is typically limited to 75 or 80 years old. “Final expense”' insurance is sometimes offered to consumers up to 85 years old.

Of course, life insurance gets more expensive as you get older.  But even if you're just past 50 you will probably find the application process a little more complicated than you expected.

The bottom line is that procrastinating on the purchase of insurance can be costly depending on the type of insurance you are buying. If you are age 40 and wait just a decade to buy, your rates could double.  If you want until after 60, you can expect rates to triple!

Are you a senior with questions about purchasing life insurance? Regardless of the type of insurance Prescott seniors may need or want, they can rely on Adler Insurance for a comprehensive and professional review of their situation. To schedule an appointment, contact us at 928-710-1455 or visit us at http://www.adlerlifehealth.com.

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Adler Insurance Discusses the Need for Life Insurance in Prescott

Life insurance was originally designed to protect your family financially in the event of your death. However, over the years life insurance has evolved and may provide other benefits as well. Adler Insurance would like to help you answer the question, “Who Needs Life Insurance in Prescott and When Should You Buy It?”

Beginning Families - When you are young and decide it is time to start a family, you may want to look at purchasing life insurance. You will then be confident that your children will have financial support as they grow, in the event you die at an early age. It is also cheaper to purchase life insurance at a younger age.

Established Families - If your family is dependent on your income to support their lifestyle you may want to consider life insurance. This also applies to a work at home individual since the duties that they perform would be costly to cover in the event of their death, like cleaning, cooking, shopping, etc.

Young Singles - Even though you may not have a family to worry about at this stage, purchasing life insurance at this time in your life may be an excellent idea, because it is very inexpensive and you will have it in place as you proceed in life.

Homeowners - Since the mortgage payment on your home is probably your most expensive monthly payment, consider how a surviving spouse would be able to handle the payment with a single income. Purchasing a life insurance policy that would have the ability to pay off the mortgage in the event of the loss of a spouse may be a good investment.

Business Partners and Owners - If you have a business partner or own a business and there are people relying on you, you may want to consider purchasing a separate life insurance policy for the purpose of your business obligations or to ensure the continuation of your business if your should die.

So as you can see, most people in Prescott can benefit from the security of owning life insurance. In today’s insurance market there are a wide variety of life insurance products that you may want to consider, from simple term life to whole life or universal life, that often offer cash values and investment opportunities. To get answers to all of your life insurance questions, please contact one of our insurance professionals at Adler Insurance. You can reach us by calling 928-710-1455 or by visiting our website at http://adlerlifehealth.com.

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