If you are a senior specifically looking for no medical exam or
guaranteed acceptance coverage, the AARP does provide reasonable quotes for whole life insurance.
So, if you want enough coverage for your end - of - life costs (a funeral, for example, costs about $ 10,000),
guaranteed acceptance coverage should be sufficient.
With
the guaranteed acceptance coverage through Colonial Penn, if the insured dies within the first two years of coverage, then the amount of the death benefit paid out to the beneficiary will be reduced.
In addition, due to the added risk that an insurer take on by offering
guaranteed acceptance coverage, the premium that is charged for this type of insurance is usually higher than that of a comparable medically underwritten life insurance policy.
If you are a senior specifically looking for no medical exam or
guaranteed acceptance coverage, the AARP does provide reasonable quotes for whole life insurance.
Their guaranteed acceptance coverage is ridiculously expensive relative to their competition
So, if you want enough coverage for your end - of - life costs (a funeral, for example, costs about $ 10,000),
guaranteed acceptance coverage should be sufficient.
Guaranteed acceptance coverage is available to anyone who applies, just be prepared for a limited death benefit and expensive premiums.