Do Seniors Need Life Insurance No Physical Exam?

Whether seniors need life insurance or not is a long debated topic. Many financial advisors say it is a waste of money, while others argue that it can provide great benefits for family members. Who is right? Do seniors need life insurance no physical exam? Or is life insurance no physical exam required a waste of money? Let us find out!

What is life insurance for?

Life Insurance No Physical ExamThis is something more people should consider before purchasing a plan. What is the purpose of life coverage and how benefits from it will, in the end, answer the title question. Life insurance is a contract which provides a payment to your designated beneficiaries in case you lose your life. It does not benefit you directly; instead, it is a financial safety net on your loved ones can rely in case you lose your life.

If you are the only one who is employed, your death will leave your family without financial means. In order to prevent such a grim scenario, life insurance is bought to financially secure our loved ones.

When do seniors need life insurance?

There are some situations in which seniors need life coverage. Here are a few of them:

  • If the mortgage is not paid. If you still have mortgage payment left to make, life insurance money can be used by your beneficiaries to pay the remaining mortgage and keep the house
  • If you support a family member. If you are financially supporting a family member, you are a provider, and as I have said before, every provider needs life insurance.
  • If your family cannot afford to pay for your funeral. Funeral costs are expensive and your family may not afford to pay for them. In this case, a simple and fast life insurance no physical exam required can cover all your burial expenses!

Final words and conclusion

No medical exam life insurance is a good policy for seniors because it offers fast and simple coverage. Seniors can get accepted a lot easier for life coverage if they skip the medical examinations. Although expensive, these policies can come in handy if you are financially supporting someone or if you need to cover your funeral taxes.

Visit our website and compare the best life insurance quotes available on the market! We can find you cheap coverage in just a few minutes.