Life Insurance for Seniors – Should You Buy Accelerated Death Benefit?

Life insurance for seniors with an accelerated death benefit can be a powerful investment.  An accelerated death benefit rider allows you to receive a part of the death benefit if you develop a terminal illness. This is the only way you can receive some of the insurance money during your lifetime.

HappyElderCoupleSenior citizens are more likely to develop a terminal illness during retirement. If you think of purchasing life insurance, an accelerated death benefit rider can be an important addition.

How does it work?

When you buy life insurance, you can select additional options, known as riders. Every rider you attach to your policy will increase the costs, so make sure you know what riders are actually good for you. If you purchase accelerated death benefits, you are entitled to a percent of the total benefit guaranteed by your policy, but only if you develop a terminal illness.

Agencies may have different views on what they consider an eligible situation for accelerated death benefits. When buying life insurance for seniors, it is recommended to discuss your option with a professional insurance broker.

The benefits of purchasing an accelerated death benefit rider

  • You will be able to pay for expensive medical treatment
  • You will be able to help your family financially
  • You will have better control over your insurance money
  • You will benefit from higher quality medical services

How to buy a plan?

If you want to find affordable life insurance during retirement, the best thing is to compare online quotes. Online life insurance quotes can help you save money when shopping for life coverage. It also improves your chances of finding an agency that will insure you with full accelerated death benefits.

We do not sell life insurance, but we have important contacts in the industry market. Our insurance agents are ready to assist you and answer all your questions. You can call us or compare quotes directly on our website!