Posted on April 17, 2023

As we age, it's natural to start thinking about the future and the legacy we will leave behind for our loved ones. One crucial aspect of planning for the future is securing life insurance to protect your family's financial well-being after you're gone. However, for seniors over 65 years old, finding affordable and accessible life insurance can be challenging.

Many insurance companies turn down seniors over 65 due to their age or pre-existing medical conditions, leaving them without coverage or with exorbitant premiums. At Shermane's Insurance Agency LLC, we believe in inclusion and offer life insurance policies to seniors at affordable rates, regardless of their age or medical history. 

In this blog post, we will provide tips and tricks for seniors looking to obtain life insurance, including why some insurance companies turn down clients over 65, why Shermane's can offer term life insurance for you, at what age you should buy final expense insurance, the advantages of final expense life insurance, and how much it costs. We'll also invite you to reach out to our team to schedule a call and learn more about how we can support you on your insurance journey.

At Shermane's, we understand that every senior has unique needs and circumstances, and that's why we offer a range of life insurance policies to meet those needs. Our experienced team of underwriters specializes in evaluating the health risks of seniors, so we can offer term life insurance policies with coverage up to age 85. We also offer final expense insurance policies designed to cover end-of-life expenses such as funeral costs, medical bills, and outstanding debts.

Why do Some Insurance Companies Turn Down Clients Over 65?

Let's dive deeper into why insurance companies turn down clients over 65. Firstly, insurance companies consider older adults a higher risk due to their age. This means that seniors are more likely to make a claim than younger policyholders, which puts insurance companies at a higher risk of paying out claims. As a result, insurance companies often charge higher premiums to older adults to offset the increased risk.

Secondly, pre-existing medical conditions are common in older adults, which increases the risk of insurance companies paying out a claim. Insurance companies consider pre-existing conditions when determining the premium rates, and in some cases, may deny coverage altogether. This can be frustrating for seniors who are in good health but may be denied coverage due to a pre-existing condition.

Lastly, insurance companies may not have the expertise or resources to evaluate the health risks of older adults. Insurance companies use actuarial tables to determine the risk of insuring individuals based on age, gender, and health status. However, these tables may not accurately reflect the health risks of older adults, especially those with complex medical histories. As a result, insurance companies may be hesitant to offer coverage to seniors, even if they are in good health.

At Shermane's Insurance Agency LLC, we believe that every senior deserves access to comprehensive and affordable life insurance. Our team of experienced underwriters specializes in evaluating the health risks of seniors, so we can offer policies that meet their unique needs and circumstances. We understand that seniors may have pre-existing conditions or complex medical histories, and we work with them to find the best coverage options available.

Why Shermane's Can Offer Term Life Insurance for You?

Now, let's explore in more detail why Shermane's can offer term life insurance for seniors. Our team of experienced underwriters specializes in evaluating the health risks of seniors. We understand that older adults may have different health needs and circumstances compared to younger policyholders. As a result, we take a personalized approach to evaluating each senior's health risks to provide them with the best coverage options available.

At Shermane's, we believe that everyone deserves access to affordable and comprehensive life insurance, regardless of their age or medical history. We understand that seniors may be hesitant to obtain life insurance due to high premiums or a fear of being denied coverage. That's why we work with seniors to find policies that meet their unique needs and circumstances, so they can have peace of mind knowing their loved ones are protected.

We offer term life insurance policies with coverage up to age 85 at affordable premiums. Term life insurance policies provide coverage for a specific period, typically 10, 20, or 30 years. This type of policy is often a good option for seniors who want coverage for a specific period, such as to pay off a mortgage or support their children through college. Our experienced team can help seniors choose the coverage period that best fits their needs and budget.

At Shermane's Insurance Agency LLC, we're committed to providing seniors with access to affordable and comprehensive life insurance. Our range of policies, including term life insurance, whole life insurance, and final expense insurance, means that we can find the right coverage option for you. If you're over 65 and looking for life insurance, schedule a call with our team to learn more about our policies and how we can help you protect your family's financial future.

At What Age Should You Buy Final Expense Insurance?

The answer to this question depends on several factors, including your health, family history, and financial situation. Generally, it's best to purchase final expense insurance when you're in good health and can qualify for affordable premiums. The earlier you purchase a policy, the lower your premiums will be.

However, the age at which you should buy final expense insurance will depend on your unique circumstances. For example, if you have a pre-existing medical condition that may affect your ability to obtain coverage, it may be in your best interest to purchase a policy sooner rather than later. Additionally, if you have a family history of health issues, it may be wise to purchase a policy earlier in life to ensure coverage is in place when you need it.

At Shermane's Insurance Agency LLC, we understand that purchasing life insurance can be overwhelming, especially for seniors. That's why we offer personalized consultations to help seniors determine the best age to purchase final expense insurance. Our experienced team can evaluate your health risks and financial situation to provide you with the best coverage options available.

It's essential to remember that life insurance will protect your family's financial future. You don't buy life insurance because you're going to die, but because those you love are going to live. If your wife, husband, or children depend on you or your income, you'll need to get life insurance. Final expense insurance can provide peace of mind, knowing that your end-of-life expenses will be covered, and your loved ones won't have to bear the financial burden.

To determine the best age to purchase final expense insurance, schedule a call with our team at Shermane's Insurance Agency LLC. We're here to help you find the right coverage options for your unique needs and circumstances. Don't wait until it's too late to protect your family's financial future.

What Are the Advantages of Final Expense Life Insurance?

Final expense life insurance is a type of insurance policy designed to cover the cost of end-of-life expenses, such as funeral costs, medical bills, and outstanding debts. The advantages of final expense life insurance include:

• Peace of mind: Knowing that your loved ones won't have to worry about the financial burden of your final expenses.
• Affordability: Final expense life insurance policies are generally affordable, with premiums starting at just a few dollars per week.
• No medical exam: Some final expense life insurance policies don't require a medical exam, making it easier for seniors to obtain coverage.

How Much Does It Cost?

The cost of final expense insurance depends on several factors, such as age, health, and coverage amount. At Shermane's Insurance Agency LLC, we offer affordable final expense insurance policies to seniors in Brooklyn, Queens, MidWood, Jersey City, Jersey, Flatlands, Flatbush, Harlem, Crown Heights, Bushwick, Manhattan, Georgia, North Carolina, and New York. To get a personalized quote, schedule a call with our team.

We're Here for Any Questions!

It's essential to remember that life insurance is an investment in your family's financial future. Life is unpredictable, and having the right coverage in place can provide peace of mind knowing that your loved ones will be taken care of after you're gone. At Shermane's, we understand that seniors may have unique needs and circumstances, which is why we take a personalized approach to evaluating each senior's health risks and financial situation to provide them with the best coverage options available.

We're here to answer any questions you may have about life insurance for seniors and how Shermane's can help. Our experienced team is dedicated to helping you find the right coverage options for your unique needs and circumstances. Whether you're interested in term life insurance, whole life insurance, or final expense insurance, we're here to guide you every step of the way.

Don't wait until it's too late to protect your family's financial future. Schedule a call with our team at Shermane's Insurance Agency LLC today to learn more about our policies and how we can help you obtain the coverage you need. You can reach us at (516) 603-0175 or [email protected]. We look forward to he aring from you!