Yes, there are whole life insurance plans, also known as, permanent life insurance policies, offered to senior citizens.
These permanent insurance plans provide guaranteed lifetime protection as long as the premiums are paid on time.
They provide a death benefit payout upon the passing of the insured person. These whole life plans also build up cash value inside the policy over time, which is available as a loan if needed.
Your premiums remain level, and your coverage does not expire. The amount of life insurance coverage remains the same throughout the life of your policy.
There are guaranteed issue whole life insurance policies for seniors age 45 to 85, which means you cannot be turned down for coverage due to any pre-existing medical condition.
Here's how to get whole life insurance policies for seniors.
