Despite reports that average life expectancy has declined, many people still plan to keep working past traditional retirement age, whether for financial reasons or because they’d be bored otherwise. This may not be a surprise, but financial advisors need to remember to check in on seniors to make sure they are insured and that they have the right amount of coverage.

What is Senior Insurance

Final Expense Insurance

Final expense insurance is usually a smaller amount of insurance for the purpose of providing funeral coverage for family members in the event of a death. Underwriting for this Final Expense policy is usually easier to receive an approval. Insurance companies will often avoid medical exams and medical history to get approvals for clients seeking final expense insurance.

Guaranteed Issue

Unlike traditional life insurance, guaranteed issue life insurance involves no health questions. It can help you pay for end-of-life expenses such as funeral costs, medical bills, as well as cover any outstanding debts so they don't get passed on to your family, guaranteed issue life insurance is worth considering


People use life insurance for many reasons. Gifting provides participants a transfer of wealth from one party to another under the IRS tax law that allows annual gifting limits for $15,000 per person, $30,000 per married couple. There is no limit to the number of recipients you can give a gift to. There is also a lifetime exemption of $11.58 million.

Long Term Care Insurance

Long term care is an important part of the insurance portfolio. With the rising cost of medical insurance and care, long-term care insurance provides coverage for your spouse or professional to pay for the cost of daily living activities that one is unable to perform. For a long-term policy to cover your disability, an individual must be unable to perform two out of six daily living activities, this includes: eating (ability to feed yourself), toileting, continence, transporting, bathing and dressing. Long-term care involves a variety of services designed to meet a person's health or personal care needs during a short or long period of time. Long-term care also includes community services such as meals, adult day care, and transportation services. These services may be provided free or for a fee.

Permanent Life Insurance

Permanent life insurance typically comes in two forms, whole life and universal life. Whole life provides owners with a permanent policy that offers a fixed premium to age one-hundred. Universal life also guarantees a fixed premium, however, unlike Whole Life Cash Value growth, Universal Life offers a permanent policy whose face amount remains unchanged due to the minimum amount of premium allowed to keep the in-force. Permanent life insurance allows for families to prepare for an untimely death of loved ones along as fixed premiums are paid.

Asset Protection

Asset protection is a component of financial planning intended to protect one's assets from creditor claims. Individuals and business entities use asset protection techniques to limit creditors' access to certain valuable assets while operating within the bounds of debtor-creditor law

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