Senior Life Insurance In California
Get a Quote
It is important to learn that there are different kinds of senior life insurance in California for different kinds of California seniors. While some families are concerned about funeral and other final expenses, others would like to leave a legacy or an estate behind. If you are trying to find a policy for yourself or your elderly parents, work with us to find the best solution for you and your family.
We serve Californians from kids to elderly folks over 80. Just complete our quick form to get life insurance quotes online.
California Senior Statistics
These are some quick stats about California senior citizens:
- Average CA age of death: 80.8
- CA population over 65: 12.5%
- Average CA home value: $383,900
- Average CA household income: $61,400
In California, home values are high when compared to average household income. This is particularly true in some of the largest cities. These are the largest California cities with their population:
- Los Angeles: 3,792,621
- San Diego: 1,307,402
- San Jose: 945,942
- San Francisco: 805,235
- Fresno: 494,665
California Senior Life Costs
These are sample monthly rates for a 79-year-old California woman who does not smoke:
- $8,000: $80.05
- $12,000: $118.77
- $20,000: $196.21
Note: These are sample prices. Your own rates will depend upon your age, health, and the amount of coverage you want to buy. Of course, you should also shop around for the insurer with the best rates for you. These rates are without a medical exam.
Life Insurance for Seniors in California
No matter which California city that you live in, from San Diego to San Francisco, you will find that a variety of different companies are eager to offer life insurance coverage for seniors. This is a quick summary of options:
- Term life insurance for seniors: You or your parents might qualify for fairly cheap 10- to 20-year term policies, depending upon health and age.
- Guaranteed acceptance life: The application asks absolutely no health questions, and all qualified applicants are accepted.
- Simplified issue burial plans: These policies require answers to a few health questions, but they offer an immediate death benefits, coverage options, and lower rates than guaranteed acceptance life insurance policies.
Term life insurance for Senior Citizens in CA
While many insurers are willing to offer term coverage for fairly healthy older folks, these policies will expire after the term. Some may also end at age 80, leaving the insured person with no coverage.
Simplified vs. Guaranteed Issue Life
If you absolutely do not wish to answer medical questions, guaranteed issue policies may be a good choice. However, instead of answering questions, you will have to wait for a waiting period to expire before the policy will pay the full benefits. It is much better to qualify for coverage by answering a few questions if it is possible.
Buying Life Insurance for Parents
You are very welcome to help your elderly parents get insured. However, you should know that they will need to participate in the application process. For example, the applicant may need to take a quick phone interview or sign the application. This can often be done online or on the phone, so you do not need to travel out of your home to buy life insurance for senior citizens in California.
Life Insurance Quotes
We want to help you find the coverage that is right for your situation. That will depend upon age, medical conditions, location, and how much coverage you want to buy. Fill out our quick life insurance quote form to see California life insurance rates and companies in seconds. We hope to help California families, from kids to seniors, find the right life insurance solutions!