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Thread: What's the difference between whole life insurance and senior life insurance?

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    Default What's the difference between whole life insurance and senior life insurance?

    Hi, I am wondering what's the difference between whole life insurance and senior life insurance?



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    Quote Originally Posted by raymondz View Post
    Hi, I am wondering what's the difference between whole life insurance and senior life insurance?
    Whole life provides a death benefit to your survivors for your whole life. Senior only covers the specified term. Most senior policies NEVER pay a death benefit. The insured outlives the term most of the time.
    insurance is my life

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    Well done answered hollym.
    Just by the read of it, its understandable. Most senior life insurance provides terms that are insignificant to others so better be clear on every term you'd like to get.

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    how about over 50s life insurance?

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    Senior life insurance is a slang term for any life insurance that is marketed to seniors. Some of it IS term and ends as they reach a specified age (usually 80)

    Most reputable life agents sell seniors whole life. The term is usually sold to them by direct mail as more of an impulse buy through mail order companies such as Colonial or AARP.

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    Insurance is needed in all stages of life and particularly if you are a senior, then you should be protected with senior life insurance. At the time of your retirement, you will be having many expenses and you along with your spouse need some protection.

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    There is a big different between the two. While life insurance provides a lifetime coverage, insurance for seniors is only good for a specific period of time or for a specific term. Unlike the former, it doesn't provide benefits for your family members if ever something happens to you.

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    Quote Originally Posted by taperjean View Post
    There is a big different between the two. While life insurance provides a lifetime coverage, insurance for seniors is only good for a specific period of time or for a specific term. Unlike the former, it doesn't provide benefits for your family members if ever something happens to you.
    Taperjean, I believe the above statement is incomplete. It should read something like this:


    There is a big different between the two. While WHOLE life insurance provides a lifetime coverage, TERM insurance for seniors is only good for a specific period of time or for a specific term. Unlike the former, it doesn't provide benefits for your family members if ever something happens to you.

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    Quote Originally Posted by hollym View Post
    Whole life provides a death benefit to your survivors for your whole life. Senior only covers the specified term. Most senior policies NEVER pay a death benefit. The insured outlives the term most of the time.
    Amen to that Hollym.

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