As a senior citizen, it is advisable to apply for the life insurance for seniors over 65. If you have dependents and have significant debts that outweigh your assets, you need to buy the right life insurance policy. Many people often put off purchasing life insurance while many fail to buy enough coverage. Those who make the decision to purchase life insurance fail to understand the amount of policy to buy. As a result, many families have been devastated by inadequate coverage. Buying the right policy is an important financial plan that you do not wish to mess up, because the future of the family could be at stake. Some of the myths pertaining to life insurance include:
· People with poor health cannot get insurance
It must be understood that life insurance policies are not specially designed for the healthy. Each of the cases is treated individually therefore, it is important to find a suitable policy, regardless of the condition of your health.
· Applicants do not have to worry about their health
Many of the advertisements promise applicants they will not be turned away, regardless of their health. However, if you are looking for a last minute windfall for the heirs the condition of your health is paramount. The costs of the non-medical policies reflect the increased risks to the insurers.