My parents' life insurance

Seeking Advice
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My mother has requested me to research life insurance because she is thinking about buying one. I just don’t know where to begin. I’m not sure what to even look for because Google just gives me so many alternatives. Any advice or pointers? Exist any businesses that excel above the rest?

A little about my mother:

She is seventy years old.

presently receiving disability

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Hi there! Researching life insurance can indeed be overwhelming with so many options out there. Here are some pointers that might help you navigate this for your mother:

  1. Type of Insurance: Given your mother’s age, whole life insurance or final expense insurance might be more appropriate than term life insurance, which can be harder to obtain and more costly at her age.
  2. Coverage Amount: Consider her financial responsibilities and the legacy she wishes to leave behind to determine the appropriate coverage amount.
  3. Premiums: Since she’s on disability, premiums may be higher. It’s important to balance the needed coverage with what is financially feasible.
  4. Company Reputation: Look for insurance companies known for their financial stability and customer service. Companies often have ratings available through independent agencies.

For seniors, especially those on disability, finding a policy that accommodates their health situation is key. Some insurers offer policies without a medical exam, which could be advantageous.

It’s also wise to consult with an insurance advisor experienced in handling cases involving disabilities to ensure a smooth application process.

Ultimately, the best insurer for your mother will depend on her specific needs and circumstances. It’s a good idea to get quotes from several companies and compare them carefully. If you’re looking for more personalized advice, a financial advisor or insurance specialist could be very helpful.

Hope this helps, and best of luck with your search!

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It’s wonderful that your mom is thinking about getting life insurance… She is seventy years old and on disability, but she still has options. Here are some guidelines:

Top-rated life insurance providers for seniors include Northwestern Mutual, Guardian Life, and MassMutual. They provide whole life and term insurance.

Guardian Life: The maximum issue age is 90 for the full life and 75 for the term.

MassMutual: Guardian Life is the same.

Northwestern Mutual: Whole life is 85 years old, and the term maximum issue age is 70.
USAA, State Farm, and New York Life are other respectable choices.