While life insurance is a must-have for young families, you might need less or no coverage – but once you reach your 50s, getting a life insurance policy is more important than ever. This is because life insurance can provide the financial assistance you need in the unexpected.
If you decide that life insurance is right for you, here are some of the best life insurance companies for people over 50.
Mutual Of Omaha
Mutual of Omaha Life offers different product choices whether you need easy-to-get coverage or require a more considerable death benefit. This company accepts applications from people 80 years and above. If you want easy selection, simplified underwriting, and a trustworthy insurance company that you can rely on, then Mutual of Omaha should be the #1 company on your list.
Transamerica
Transamerica is another good life insurance company for people 50 years and above seeking generous living benefits. This insurance company has everything from simplified options to fully underwritten choices. So whether you and your partner need long-term planning, using a universal life insurance product from Transamerica can help.
Protective
Protective offers some of the best value, especially for guaranteed universal insurance coverage. This company offers several life insurance options as a trustworthy and top-rated carrier. Their life insurance plans for people over 50 are competitively priced and customizable. Protective is an excellent option for those who want flexibility with long-term coverage.
Banner
Banner Life Insurance Company is the best option for those with severe health concerns. The insurance company's strong financial status and excellent use of independent agents make them a fantastic selection. If health is an issue, consider Banner, as they are one of the best-priced carriers for seniors with medical conditions.
Sagicor
Sagicor is a premier, no-exam life insurance company that meets the needs of people above 50 because of some of its no-lapse guarantee products. The no-lapse guarantee in their products offers guarantees while keeping your premium low. In addition, Sagicor also provides a couple of indexed universal life insurance products and advanced planning options for people with sophisticated cases.
AIG Direct
AIG Direct is another life insurance company for Americans that need coverage that won't change or lapse. The best thing about AIG Direct is its robust living benefits. There are options that increase your policy's benefits if certain conditions are met before you die.
Haven Life
Haven Life is among the leader in life insurance coverage for those over 50 and is backed by MassMutual. You can get around $500,000 in term life coverage through Haven Simple, a simplified product that doesn't require an invasive exam but involves medical questions. Haven Simple comes in your choice of 5 to 20-year terms and is available to applicants up to age 55.
Contact ChooseTerm.com if you need help finding the right life insurance policy. We support people at every stage of life and strive to help them find the right life insurance policy. Call us today at 541-400-9040 to receive an instant insurance quote.