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Senior Article
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6 - Seniors life insurance
from:Do you really need seniors’ life insurance?
Many seniors worry that they do not have enough life insurance to meet their final needs. Others worry that they are too old to get good, reasonably priced life insurance. Seniors life insurance is sometimes called final expense insurance. Research will show that there is affordable seniors’ life insurance on the market. One reason for the affordability of seniors’ life insurance today is the fact that more persons are living longer. Before committing to purchasing seniors life insurance, do determine the following:
* What are your financial goals
* How much can you afford to spend
Seniors life insurance can be purchased for persons aged fifty-five to seventy-five. Deciding between the different types of seniors’ life insurance available can be a challenge, but insurance agents or brokers can help to demystify the insurance landscape. Additionally, the savvy senior or someone acting on his or her belief can search online and get free quotes before making a final decision.
It is good to also know that many seniors’ life insurance options cover most medical expenses. Seniors’ life insurance can result in big savings for medical expenses, especially if you are suffering from chronic illnesses. The major expense apart from housing fro most seniors is housing.
Most seniors’ life insurance policies offer special incentives such as:
* No medical examinations
* Death benefits that will not decrease after a set number of years, normally between two and three years depending on the insurance company. If the insurer dies before the two or three years, the beneficiary gets only a portion of the sum insured.
* Fixed monthly premiums throughout the life of the policy, that is, the premium will never go up
* Many offer cash value on the tax deferred portion, that is, you can borrow money against that portion
* Allows the individual to sell his or her seniors life insurance policy for cash. This is becoming a lucrative business and provides seniors with much needed income for immediate needs. This is known as life settlements.
Seniors life insurance policies are also a good way to help your beneficiaries pay taxes on land or property left to them upon your death. Based on your next worth, death taxes can be quite high.
Seniors’ life insurance helps seniors live without the worry that their loved ones will be left to deal with their debts and funeral expenses. Spouses know that seniors’ life insurance can provide the financial strength their partners may need to continue to live comfortably. So, regardless of your age it may well make economic sense to take out a seniors’ life insurance policy to help your loved ones cope with any financial issues that may arise.
Senior News
Obama Selects 4 More Senior Defense Officials (Washington Post)
President-elect Barack Obama yesterday announced his picks for four senior defense officials, including two who served as top Pentagon budget officials under President Bill Clinton.
Read more...Senior official says US, China ties strengthening (AP via Yahoo! News)
China and the United States are "increasingly interdependent" following three decades of building close economic and political ties, a senior U.S. diplomat said Thursday.
Read more...Senior Housing sets quarterly dividend of 35 cents (AP via Yahoo! Finance)
Senior Housing Properties Trust said its board declared a regular quarterly dividend of 35 cents. The assisted living community, nursing home and medical clinic developer said its dividend is payable on Feb. 13 to shareholders of record on Jan. 22.
Read more...Senior calendar (Port Clinton News Herald)
A program of exercises, crafts, entertainment and education combines with meals served at the Ottawa County Senior Citizens Center and nutrition sites to form the county senior citizens activities program. Suggested donation for lunch is $2.50 for those 60 and older; $5 for those under 60.
Read more...Colonie OKs senior site deal (Albany Times Union)
Town says $55,000 saved on rent will go to senior programming COLONIE ? The Town Board Thursday night unanimously approved a new lease agreement with a private non-profit to house Colonie's Senior Resources Department, just two days after the accord seemed in jeopardy of collapsing.The five-year agreement will end an 8-month-old rent dispute between the town and Colonie Senior Service Centers ...
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