Senior Life Plans Senior life insurance, sometimes referred to
as graded death benefit plans, provides eligible older applicants with minimal whole life coverage without a medical examination.
Keep in mind there are plenty of companies who offer
you a graded death benefit plan that has a 2 year waiting period before you have the full death benefit and is very expensive.
Commonly termed as
a graded death benefit plan, senior life insurance plans provide minimal whole life coverage to eligible seniors.
They offer
some graded death benefit plans which have no underwriting just ask you few questions which are addressed towards severe conditions.
If you end up with
a graded death benefit plan, this means you will not be receiving full payment within the first few years of the contract.
In both cases, the death benefit will only pay out return of premium plus a percentage, such as 10 to 20 %, during the first 2 - 3 years, known as
a graded death benefit plan.