Life insurance policies are almost the same in every country. We must apply for a life insurance when we feel good which can be used for future needs. What are future needs? These are the needs that cannot be defined but are statistically occurring. There are good and bad needs. In order to satisfy our future needs, we must have a defined system, because the future can bring unpleasant financial surprises. If we are firmly determined to take a good care of our family, we need to apply for a senior life insurance in California.
Do you want your family to have a financial stability?
If so, you must make a small sacrifice and save money for that purpose. If you are not able to do that, it is not recommended to apply for life insurance. Also, do not buy a life insurance only because other people did. Do not buy life insurance only because it is a trend or to brag about it. This is something serious and it is mostly done for personal financial needs. And it is not selfish at all. We do that because we love our children.
You can find a variety of different senior life insurance in California. So, you did a research and found out that you need to take a medical exam in order to apply for a life insurance policy. This scared you a little and you are rethinking about whether to apply or not. Do not worry about that. There is a solution for those who hate taking a medical exam. Insurance companies offer plans with no health questions.
Who buys the life insurance without health exam?
- Individuals who are afraid of needles
- Individuals who have an anxiety before and during a medical exam
- Individuals who do not have time to take a health exam
- Individuals who need a smaller amount of life insurance
Types of senior life insurance in California
Term life insurance – although everything depends on the current health condition of the individual applying for life insurance, this is quite a cheap option that offers 10 – 20-year term policies. However, a term policy is suitable for seniors up to 75 years. After 75 years, whole life plan is cheaper and suitable.
Guaranteed issue policy – this is the life insurance policy you need if you do not want to be asked any kind of health questions. The disadvantage of this policy is that you must wait for a certain period of time in order to receive the full benefits.
Simplified issue burial plans – in order to be qualified for this policy, the insurance agent will ask you a few questions about your health condition. What you can get from this are coverage options and death benefits.
Life insurance for parents – yes, you can buy a life insurance for your parents. But you cannot do it all by yourself. Your parents must participate in this process, but they can do it over the phone.
Before applying call the California Department of Insurance at 1 – 800 – 927 – 4357 and ask everything you need to know about a certain insurance company located in the state of California. Remember to write down all the information and use it when needed.