Seniors Can Now Apply For Instant Decision Underwriting

Non-traditional life insurance plans, which require no medical exam and provide instant decision underwriting, are available to seniors as well as younger applicants. The life insurance industry is rushing into accelerated underwriting, and seniors are not being left out.

Every day, ten thousand Americans reach the age of 65 and, due to failing health, do not believe they have a chance of obtaining life insurance. However, insurance companies are beginning to provide opportunities for seniors beyond traditional guidelines.

Senior highlights may include the following:

  • The age range of availability: 25 to 85 years
  • Underwriting with an immediate decision
  • There will be no medical examination.
  • Simplified health-related questions

If a person dies in an accident within the first two years, he or she is entitled to the full amount of the benefit. However, if the insured person dies due to natural causes within the first two years of the policy’s inception, only a limited benefit will be paid. However, after two years, the policy cannot be canceled by the insurance company, only by the policyholder.

These policies typically pay out between $10,000 and $50,000. You can also obtain coverage for as little as $5,000. Remember that if you are counting on Social Security death benefits, you should only expect about $250.

Certain term lengths may not be available for these accelerated underwriting plans depending on your age. A 10- or 15-year policy, for example, may be an option for someone who is 70 but not older.

Accelerated underwriting policies, like traditional life insurance policies, provide you with a 30-day free look period to examine and accept the policy.

Follow the suggestions below for questions to ask before purchasing any life insurance product:

  • Your funeral expenses have already been paid for.
  • You have enough money set aside for your golden years.
  • Your children do not rely on you financially.
  • You have no outstanding financial obligations.

Guaranteed life insurance can be a good option for seniors who are considered high-risk by other insurance companies. Life insurance with guaranteed acceptance is not the same as accelerated life insurance.

However, if you require coverage and are unable to obtain it elsewhere, this may be the best option. Keep in mind that the coverage limits are typically lower and more expensive than underwritten plans.

Nonetheless, seniors should not be left out of the current accelerated underwriting trend in the life insurance industry. Seniors can get no medical exam and instant underwriting decision plans, so don’t think your age will keep you from getting these coveted products.

Our professional, friendly licensed agents are well-versed in the accelerated underwriting product line and can help you tailor a quote to your specific health and lifestyle characteristics by calling 1-800-556-9393. also offers online applications.

Leave a Comment