In this article, I will explain why you need insurance as an 83 year old senior, what are the best insurance options for you, and how you can qualify if your health isn’t the best.
Whether you are 83 years old yourself or looking for a policy for an 83 year old parent, you’ve come to the right place!
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Seniors, including 83 year old men and women, should always have life insurance. There are many reasons you may want to take out insurance at your age. Here are the most common ones:
- To cover your final expenses. In our experience, seniors often don’t have enough life insurance coverage or savings to pay for their funeral costs and burial or cremation fees. One of the most common reasons why 83 year olds decide to purchase insurance is because they want to cover their final expenses.
- To pay off debt. As 83 years old, you may want to buy life insurance to pay off debt. This can be mortgage or credit card debt, for example.
- To leave a legacy of love. Many seniors decide to buy life insurance so that they can leave money behind to their loved ones.
- To replace a lost income. For 83 year olds, life insurance often serves as a replacement for income loss after the death of their spouse who was the primary earner.
At Buy Life Insurance For Burial, we have long experience in helping adult children get burial and life insurance coverage on their parents. It is possible to buy life insurance on your parents who are 83 years old under the condition that they sign off on the policy.
The only exception is if you have power of attorney. In that case, you can sign the policy for them.
If your parents agree for you to take out the life or burial insurance coverage, you can set up payments for their policy from your account.
Every person’s health situation is different. Besides, health factors vary significantly between life insurance carriers. That makes it impossible for an insurance agent to recommend one single carrier to 83 year old seniors.
But because Buy Life Insurance For Burial is an independent broker that carries top life insurance companies, we have access to the very best coverage options.
You can be sure that we will always recommend a great policy at the best price that will perfectly suit your individual needs.
As an 83 years old senior, you have several alternatives to choose from:
Whole life insurance is the type of insurance we most frequently recommend to our senior clients.
The advantage of whole life insurance is that it won’t cancel due to your age or your health. It remains in place as long as you are paying premiums. This is insurance that you can’t outlive.
Our life insurance carriers offer “simplified issue” underwriting. This means that you automatically qualify for their whole life policies and they won’t ask you to take a medical exam.
You only need to answer a few simple health questions to be approved. Also, you qualify for first-day full coverage and premiums don’t increase.
Universal life insurance
You can consider buying universal life insurance if you are in good health. However, you should keep in mind that if it’s set up incorrectly, guaranteed universal life insurance for seniors may cancel. When it’s set up right, it’s a permanent insurance policy that you won’t outlive.
Term life insurance
Many people think that term life insurance is the best life insurance for seniors. However, this is not necessarily true. Term life insurance guarantees coverage only for a certain number of years. So if you end up outliving this type of policy, you’ll be left with no insurance at all.
Besides, term life insurance is not that easy to qualify for. At the age of 83, you will most likely get refused due to your age or health. In addition, term life insurance often has very high premiums.
What if I want to have term life insurance anyway?
If you would still like to take out term life insurance, we’ll do our best to find a great policy for you. We can choose an insurance carrier who is easier on underwriting. Whatever your preferences, we’ll help you get a great term life insurance policy that suits your needs.
Yes, even if you’re on a fixed income, we can find you life insurance that is acceptable for you. At Buy Life Insurance For Burial, we help all our clients with a policy regardless of their financial situation.
We have extensive experience in helping low-income seniors to find great life insurance at a good price.
You can qualify for life insurance even if your health is not very good. You can qualify with one of the following conditions:
- heart issues including heart attacks and strokes,
- mental health issues,
- lung diseases,
- diabetes (even if you use insulin or have diabetic complications),
- neurological disorders such as Parkinson’s or lupus,
- and more.
However, if you are an 83 years old man or woman who suffers from the toughest pre-existing conditions, you may not be able to qualify for no questions asked whole life insurance policies. They offer coverage only until the age of 80.
The good news is, 83 year old seniors don’t always need to undergo a medical exam to qualify for life insurance. In fact, most of our senior clients opt for “simplified issue coverage” instead of taking medical exams.
When you apply for one of our life or burial insurance policies, the insurance company will check your medical history but you won’t have to undergo a medical exam.
Unlike most life insurance programs that require weeks of underwriting analysis, with our life insurance options, you will be able to get approved immediately. So this is a quick and simple way to get a life policy.
What about AARP and Colonial Penn? I often see television commercials about their burial insurance and get their mailers. Why not buy from them?
AARP or Colonial Penn have been advertising their burial insurance on television and through mail for seniors for years. However, you should know all the details of their policies before you decide to buy burial insurance from them.
AARP increases its burial insurance premiums every 5 years. Their term coverage becomes very expensive after a while and many seniors simply have to drop their AARP plans because they can’t afford them anymore.
Plus, AARP term life insurance cancels at the age of 80, which means that at your age you won’t be able to benefit from their term life insurance.
As Colonial Penn’s guaranteed acceptance policy doesn’t cover for full natural death for the first two years, this may not be the ideal policy for you. We at Buy Life Insurance For Burial believe that we can find much better products for your needs.
Contacting us for a free quote is quick and easy. Here’s what you need to do:
- Call us at 888-626-0439 to speak to one of our representatives. If we’re busy, leave us a message and we’ll call you back as soon as possible. It will take only 5-10 minutes to get you a quick quote for life insurance.
- Ask for an online quote. If you’re on a smartphone, click the button at the top to request a free quote. And if you’re on your computer, fill out the information to your right then click “submit”. You’ll get some price options, and we’ll follow up with you to see what you think.