For Seniors Over
It Is Not Too Late To Consider
Did you know that it is possible for seniors to obtain a life insurance policy? Many uninsured Canadians have found themselves in a situation where they have passed the age limits of standard life policies and believed they were no longer eligible for life coverage. But that isn’t true. No matter your age, it is important to be prepared and that includes considering estate planning and funeral costs. Life insurance for seniors can do both. Don’t miss out on the opportunity to protect yourself and your family members.
At Shelter Bay, our BC life insurance brokers work with providers all over the country so that you can explore your options. Our experts will:
- Help you navigate through the entire process
- Ensure you are making the right choice based on your coverage needs
- Find premiums that are manageable and affordable
Life insurance for seniors becomes essential when a senior may be responsible for debts and dependents and does not have adequate savings to cover these expenses in the event of their death.
Request A Senior
Life Insurance Quote
Shelter Bay Can Help Seniors
Find A Life Insurance Policy That Is Right For Them
There could be a variety of reasons why people want to consider life insurance policies later in life.
Our brokers are experienced and knowledgeable of many different products in the industry and are committed to ensuring our clients get the protection and rates they need. Our insurance advisors work with life insurance companies all across the country to ensure needs are met.
In order to determine the best life policy, our experts would need to do an individual assessment and quote for every client.
For example, if a healthy 60-year-old was interested in a life insurance plan for a temporary need, such as paying off an outstanding mortgage balance, term life insurance would be a more affordable option.
If an individual was seeking lifetime coverage, to cover final expenses such as estate taxes, medical and funeral expenses, and to leave a tax-free sum of money to their spouse, children or grandchildren, they should purchase a whole life insurance policy.
Life insurance rates for this type of protection are likely to be higher than term insurance, but many people find the coverages worth the trade-off.
Insurance Companies Offer Senior Life Insurance Coverage, Even With Pre-Existing Health Conditions
Depending on the severity of their health issues, many seniors are still eligible for life insurance. If a condition, like high blood pressure, is managed and not life-threatening, individuals can get protection at regular rates.
In the event that the medical condition is more moderate or severe, certain exclusions and higher premiums may apply. Contact us today for your free quote.
One of the number one questions we get asked is if there is life insurance for seniors without the requirement of a medical examination. Yes, there is! And there are several situations why someone over the age of 50 may consider those options.
High-risk seniors with pre-existing conditions might be disqualified from traditionally underwritten coverage or coverage with regular medical screening. Premiums also tend to be in favour of a non-smoker, so smokers may choose to go the route of non-medical insurance. In many other cases, people don’t want to have to deal with the physical and time-consuming process of a medical examination.
The following are types of insurance that clients can consider whether they are a smoker or non-smoker:
Simplified Issue Life Insurance and Guaranteed Issue Life Insurance are non-medical life insurance coverage policies that don’t require a medical exam.
Contact Shelter Bay Today For More Information On Insurance Coverage Options For Seniors.
Ensure Your Loved Ones Are Protected
There are many factors why individuals choose to forgo life insurance products. Some may not see the value of having the coverage, while others may have found the rates at a particular insurance company were unaffordable in the past. However, there often comes a time when they regret that decision or think it’s too late to get protection based on their age.
While a 70-year-old person may think they have enough money saved to cover their cost of living, they may not take into consideration final expenses or leaving behind a tax-free sum of money for their family.
A way to ensure your loved ones are not burdened by financial strain is to have a comprehensive policy in place.
Canada Protection Plan Insurance
We work directly with Canada Protection Plan to ensure our clients get the coverage and protection they deserve.
Ensure Your Loved Ones Are Protected
We offer life insurance to residents in:
• British Columbia
Whether you need help in deciding between whole life or term life insurance plans, or you think you’ve reached an age where you are uninsurable,
a life insurance broker at Shelter Bay can find a plan that is right for you.
Shelter Bay is an insurance brokerage with a head office located in British Columbia. We offer leading seniors’ life insurance plans to clients in select provinces across Canada. If you have an existing health condition or have passed the age maximums for traditional insurance policies, give us a call. One of our experienced life insurance brokers would be more than happy to provide you with information on the different types of senior life insurance, as well as a quote for plans that meet your needs. We will also answer all questions regarding burial insurance, term life insurance and more. Our agents want to help make sure you and your loved ones are protected with life insurance premiums and rates that are affordable and manageable.