By submitting your request, you agree to this website's The guaranteed issue life insurance for seniors from American General Life Insurance Company, is a simple and affordable final expense life insurance policy designed to help cover expenses like:With Senior Life Insurance, if you're age 50-80, you can't be turned down for health reasons, and you can receive permanent life insurance without having to qualify for coverage based on your health. Life Insurance through AIG Direct. Premiums will vary by issue age, gender, and face amount. ABR payments may be limited by the contract or by outstanding policy loans. Universal Life Insurance offers lifelong protection and the attractive flexibility to increase or decrease your coverage amount over time … LTCI coverage may include reimbursement for the cost of a nursing home, assisted living, home health care, homemaker services, adult day care, hospice services or respite care for the primary caretaker and the benefits may be conditioned on certain requirements or meeting an elimination period or limited by type of service, the number of days or a maximum dollar limit. Affordable Life Insurance For Seniors Over 60. ABR payments are unrestricted and may be used for any purpose. Some ABRs and all LTCI are conditioned upon the insured not being able to perform two or more of the activities of daily living or being cognitively impaired.This ABR pays proceeds that are intended to qualify for favorable tax treatment under section 101(g) of the Internal Revenue Code. The 7 Best Life Insurance Companies for Seniors for 2020 Mutual of Omaha: Best Overall AIG: Best Final Expense Insurance Banner: Best Term Life Insurance MassMutual: Best Whole Life Policy Gerber: Best for Grandchildren Transamerica: Best for Seniors Over 80 Prudential: Best Living Benefits There are two main types of whole life plans offered through AIG Direct: Universal Life and Guaranteed Issue Whole Life Insurance. The federal, state, or local tax consequences resulting from payment of an ABR will depend on the specific facts and circumstances, and consequently advice and guidance should be obtained from a personal tax advisor prior to the receipt of any payments. started in the 1760s. 5 Stars. The benefits from this final expense life insurance for seniors can lend a helping hand for your loved ones during difficult times.1 Advertised Rates concerning $20/month are current as of 07/24/20 and are for $5,000, whole life insurance policy for a female age 50. Offered by American General Life Insurance Company, Sometimes, financial situations can change rapidly for people over 60. AIG offers term life insurance with 18 different term lengths, some with living benefit options. No matter your age, the most important thing is finding the best options for your financial situation and stage of life.If you are over 50 and don't have any coverage at all, or need to increase your coverage for a period of time, take a look at Another life insurance plan that may appeal to people over 50 is to convert an existing term policy to permanent. Mel2018 Vancouver, WA Motivation: Protect Loved Ones Financially Had A Great Experience The agent was very knowledgeable, and professional. Benefit amounts are subject to AGL limitations.2 The total amount of all AGL Guaranteed Issue Whole Life Insurance policies on any person cannot exceed $25,000 in the aggregate. If so, Guaranteed Issue Whole Life Insurance coverage (or Life Insurance for Elderly) may be the best fit for you. The rider does not provide long-term care insurance subject to California insurance law, is not a California Partnership for Long-Term Care program policy. The policy is not a Medicare supplement.ABRs and LTCI provide different types of benefits. This type of flexibility could be helpful as your needs change over time. Death benefits and policy values, such as cash values, premium payments and cost of insurance charges if applicable, will be reduced if an ABR payment is made. Premiums are level and guaranteed not to increase. However, purchasing an affordable senior life insurance plan if you're over 50, over 60, or even later in life might be easier than you think. AIG Retirement Services represents AIG member companies - The Variable Annuity Life Insurance Company (VALIC), Houston, TX and its subsidiaries, VALIC Financial Advisors, Inc. (VFA) and VALIC Retirement Services Company (VRSCO). If you purchase a convertible policy, be sure to find out how long of a window you have in which to convert the policy to a permanent one after purchase. AGL is not licensed to do business in New York. Policies issued by AGL in all states except NY and ME. A common misconception for adults over 50 is that life insurance for seniors can be either too expensive, or impossible to obtain. Unexpected medical bills, cost of living expenses, and changes in business ownership are only a few reasons. AIG Life insurance helps keep life going and protecting your loved ones’ financial future. Guaranteed issue whole life insurance from AGL helps you lock in the coverage you need to protect the finances of your loved ones in the event of your death.