If you are looking for life insurance at age 84 or wondering what type of life insurance for seniors is best for you that is what we are going to cover.
At age 84 it is very obvious the type of life insurance you should be looking for is final expense insurance or also known as burial insurance. The last big expense you are going to leave behind is your funeral bill and these expenses range between $10,000 – $15,000 on average.
That being said whether you are looking for yourself or elderly parents making sure there are death benefits to go to your loved ones so they can cover the funeral is vital to spare them from any financial burdens.
We have also covered in great detail final expense insurance for seniors over 80 as well as burial insurance for seniors age 85.
Be sure to read those definitive guides also to make an informed decision.
Quick Tip: To see burial insurance quotes fill out the form to your right.
Can I Get Life Insurance at Age 84
Can an 84 year old get life insurance? Yes you can get life insurance at 84 years old or 80 years it does not matter. That being said you will want to buy life insurance for final expenses because this is the biggest expense seniors leave behind for their familys.
It is also the easiest type of life insurance to qualify for because it does not require a medical exam. All you have to do is answer health questions on the carrier application and they will look at your medical history and prescriptions. If you are in good health with minimal prescriptions you will be approved.
Waiting Period or Non Waiting Period
Keep in mind that you may not have to take a medical exam but if your health is in extremely poor condition like being confined to a nursing home with long term care this will mean you cannot qualify for coverage with no waiting period.
Now you can still qualify for life insurance that has no health questions. This is guaranteed issue life insurance it does not have health questions or prescription checks but it does have a 2-year waiting period. This type of life insurance is for people with extreme or terminal illnesses.
Can I Get Life Insurance on my 84 year old Mother?
Yes you can get life insurance on your 84 year old mother. There just has to be insurable interest to get the policy for her and you need to make her aware you are getting the policy on her because the carrier will look at her medical history.
We have covered final expense insurance for parents in great detail.
Depending on the signature process she will need to be present for any electronic signatures required by the life insurance company. Whether you are purchasing life insurance age 84 or age 80 there is electronic signature process so the proposed insured can enter into the life insurance contract.
Life Insurance Companies for 84 year old
We are an independent broker which means we work with all of the top major life insurance companies nationally this means we can guarantee the best products at the best possible rates nationwide. Below we have a list of all our top-rated companies for life insurance age 84.
- Mutual of Omaha
- American Amicable
- Royal Neighbors
Those are hands down our top pics for life insurance at age 84. They are all the most reputable companies in the nation for final expense life insurance.
Watch out for the 2 worst companies for final expense insurance which are Colonial Penn and their $9.95 Plan and Lincoln Heritage The Funeral Advantage Plan. Both are gimmicks and are not the best products for seniors.
Final Expense Insurance Best Option for 84
Burial insurance is the best type of life insurance for seniors at age 84 because it is permanent coverage that never expires on you and the premiums never increase.
Term Life Insurance Worst Option for Life Insurance Age 84
If you are a senior at 84 you do not want term life insurance because it is going to be much more expensive. In addition to the expensive premiums you can only get a 10 year term when you are over age 80 which means the policy will only last until 90.
At that point, you will not be able to get coverage at all so if you outlive the term all the money is wasted and you overpaid. Also term life insurance does require medical exams and most seniors at age 84 cannot pass the strict underwriting to get the policy in the first place.
That is why burial insurance is your only option for life insurance age 84.
As we have mentioned final expense insurance has easy underwriting which means you do not have to do a medical exam. All you have to do is answer the life insurance application questions with your agent over the phone and the company will look at your prescription history.
If everything checks out you will be approved in minutes right over the phone. Life insurance companies for burial insurance look back at your health history from 2 – 3 years ago for most conditions. This means if you had a heart attack over 2 years ago you will still get coverage without a waiting period.
That is why this product is perfect for seniors even if you had some health issues from a few years ago you can still get day one coverage and approval.
Final Expense Insurance Benefits
Burial insurance has quite a few different benefits and policy riders depending on what company fits you the best.
The benefits for these plans would be:
- Premiums Never Increase
- Death Benefit Never Decreases
- Death Benefit is Tax-Free to your Beneficiary
There are additional policy riders such as accelerated death benefits which allow you to borrow from your policies face amount if you become terminally ill. This allows you to pay for things like hospital bills while you are still living.
The most important benefit to burial life insurance age 84 is the peace of mind it provides for your family. Knowing that they will not be responsible for the final expenses because they have a plan to protect them. You can also rest assured that they will be taken care of when you die.
Final expense life insurance age 84 is the perfect plan for seniors to make sure their loved ones are protected and if you are 84 years old now is the time to get coverage and protect your loved ones.