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Term life insurance for senior citizens

Unlike endowment life insurance, risk or term life insurance usually requires a medical examination, and the coverage is valid for a certain time period. If during this period an event occurs, recognized by the agreement as an insurance event, the insurer pays compensation, CNN reports.
Term life insurance for senior citizens

When choosing a product, it is necessary to determine the period, amount of coverage and study the risks and conditions. You can insure against accidents yourself or get a policy for the family member. The insurance is renewable with the repeated contract signing for the same period. Some insurers offer a convertible policy, the terms of which can be changed at the request of the insured. People over 60 who are not willing to increase their insurance costs, can get the insurance with reducing coverage. An elderly person buys a policy with a constant premium, but the insurance compensation will decrease.

Risk insurance is not suitable for saving for a comfortable old age. The policy just covers the costs of injury, illness, disability, death of an elderly person. The insurance for the pensioner is valid worldwide, 24/7 or during the holidays.

Source: https://us.cnn.com/2021/02/23/cnn-underscored/best-life-insurance-policies-for-seniors/index.html

Photos are from open sources.

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