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Thread: Can anyone explain what deferred senior life insurance is?

  1. #1
    New User Level 0
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    Default Can anyone explain what deferred senior life insurance is?

    Can anyone here explain to me what deferred senior life insurance is?



  2. #2
    New User Level 0
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    Never heard of it.

  3. #3

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    It is the type of insurance for people who are in their 50's or perhaps older. If something happens to the policyholder in the first two years, the premiums will be returned and an addition of 3% interest.

  4. #4
    Senior Member Level 3 Dan Williams's Avatar
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    So...it's a modified benefit ? As in, if you die before two years is up...you basically get your money back? Is that what you mean?

  5. #5

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    It is simply a high rate, guaranteed issue policy, where the death has to be at least two years after you start paying on the policy (death must be deferred) in order for you to collect. It's the most expensive way to buy insurance, because people who are already critically ill, can still "buy in".

  6. #6
    Member Level 0 sigfriedm's Avatar
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    Deferred senior life insurance, if I'm not mistaken, is a type of policy not for yourself but your family. The provider pays you after you are dead. Your family will benefit from it.

  7. #7
    Member Level 0 chriscoslay's Avatar
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    Most probably it is an insurance for elderly person.

  8. #8
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    It is a type of insurance policy which is for senior persons. If something happens with policy holder after two years. Insurance company gives full policy amount to policy holder.

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