Life insurance is a described as the contract between the policy holder and the insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. Nowadays it is advisable to buy an appropriate insurance and secure the future of your loved ones. There are various companies that offer insurance plans but amongst them Senior Life Insurance company is one of the leading insurance providers for citizens of The United States.
The Senior Life Insurance company offers two basic plans-the immediate benefit plan and the Limited benefit plan. They also offer cancer insurance for people aged 0-69. The application procedure is quite simple with just one health question. You can enjoy the full benefits after 30 days of subscription. This policy is renewable and benefits are paid in form of cash. The last plan they offer is the Accidental benefit death rider which gives the beneficiary benefit equal to the policies face of amount.The insured’s death must meet guidelines of the “Accidental Death” as defined in the policies.
The limited benefit plan offers four products which are Modified Whole Life, Easy Issue Whole Life, Graded Whole Life and Guaranteed Issue Whole Life. The minimum face amount payment is $1000 for all these plans. The modified whole life is applicable to ages 40-85 and full face amount payment in case of death of the insured person. The Guaranteed whole life is applicable for ages 0-85 and the benefits are 110% of premiums paid for the first three years and then the full face amount the fourth year and thereafter. The Graded whole life insurance is applicable for ages 76-85 and this product’s benefit is 50% face amount for first year claims, 75% face amount for the second year claims, and then full face amount thereafter. The Easy issue whole life is eligible for those with significant health conditions from ages 0-85. This limited benefit plan features a return of insurance premium plus 10% during the first three years of coverage.
The immediate benefit plan offers a couple of plans out of which the mentioned ones are the most rewarding ones. The super preferred whole Life which is offered to people ages 40 to 80 who have no health issues and who have not used tobacco or nicotine products in the past 5 years. This offer is whole life coverage at very reasonable premiums that have a minimum face amount of $5,000. The Preferred Whole life is offered to people ages 0 to 80 with minor health issues and who have not used tobacco or nicotine products in the past twelve months. The minimum face amount is $1,000 and full benefits can be enjoyed from the date of issue. The 10 Pay Preferred 5% Growth Whole Life is offered to people ages 40 to 85 who have minor health issues and who have not used tobacco or nicotine products in the past 12 months.The benefit of this product is that it increases by 5% of the face amount each year after the first year. Another advantage of owning this plan is that you pay premiums for 10 years and thereafter the policy is valid but with no more premiums.
This company is a legitimate company and has been in the market for years. It offers rewarding plans for every age group and even people with some health problems. It is always advisable to opt for a good insurance company and Senior Life Insurance Company is a Trusted Brand name.
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