Most people start their families in their 20s and 30s, and often this is the first time they think about a life insurance policy. Once this coverage is purchased, it's normal to forget about it altogether and only review it every couple of years. When your circumstances have changed and when your family has grown up, it may be tempting to question the need for a life insurance policy altogether. However, even for seniors, life insurance in Brentwood and beyond is a must-have.
Why Seniors Need Insurance
Life insurance is a great way to ensure that your hard work is preserved and that your loved family members are taken care of for years to come. If you pass away suddenly, your family members could be responsible for some major expenses, including remaining debts such as mortgage payments, credit card bills, and loans. It will also help to cover funeral and death expenses. Life insurance can also help provide for a special-needs dependent after you are no longer alive to do so.
When Life Insurance for Seniors Doesn't Make Sense
Life insurance may not always be necessary if most of the following situations apply to you:
Types of Insurance
Both term and permanent life insurance policies are available for seniors, regardless of age. However, there can be some limitations when it comes to buying term life insurance. This is because certain term lengths may no longer be available to you at a certain age. For example, a 75-year-old may not be able to purchase a 20-year term policy but can settle for a 10-year policy for whole life insurance instead.
Talk to the expert insurance agents at Jack Stone Insurance Agency for a reliable life insurance policy that meets your needs and budget. Serving Brentwood, Antioch, and surrounding cities in California, contact us today!
