Our Whole Life Insurance

At Americo Senior Life, our top priority is peace of mind – both for you, and your loved ones. That’s why our whole life insurance policies are designed to provide lifelong coverage with benefits that are tailored to your needs. Our options provide security against costly final expenses that can become a burden on your family.

If you’re considering whole life insurance but unsure if it’s right for you, we’re here to give you the basics of what this policy offers and how it can benefit you and your loved ones.

What is Whole Life Insurance and How Does it Work?

Whole life insurance coverage lasts your entire lifetime as long as you keep up your premium payments. Whole life policies from Americo Financial Life and Annuity Insurance Company have policies that provide a death benefit payout ranging from $5,000 to $30,000, so you can choose whatever amount suits your financial needs. Americo Senior Life provides life insurance with a death benefit payout ranging anywhere from $5,000 to $30,000, so you can choose whatever amount suits your financial needs. If you’re looking to simply cover your final expenses, you can choose a lower amount. If you have other debts such as a mortgage that will need to be paid off in your absence, select a higher amount of coverage so your loved ones aren’t left with extra bills to pay.

Additionally, whole life insurance offers a cash benefit that accumulates over the life of your policy. Subject to terms of the policy, you can take a loan on the accumulated cash values and pay it off over time. This could be useful if medical expenses pop up or unexpected financial obligations arise. If you should pass before paying it off, it will be taken out of your death benefit payout.

Term vs. Whole Life Insurance Explained 

Now that you know the basics of how a senior whole life insurance policy works, you may be wondering how this type of policy compares to term life insurance. Let’s look at the details!

Term life insurance provides coverage for a set period of time, typically anywhere from 5 to 30 years. However, if you are over the age of 70, some insurance providers will not allow you to purchase a term longer than 20 years. Even if you’re not quite at the age of 70 yet, the older you are and the more medical issues you have, the more expensive and difficult it may be to acquire term life insurance. Similar to whole life insurance, a term life policy does guarantee a death payout if the policyholder dies within the coverage period. 

Choosing Whole Life Insurance

When you’re looking to purchase a whole life insurance policy, there are a number of factors you need to consider. 

• Premium costs. Unfortunately, the older you are, the more expensive life insurance policies get. Choosing a longstanding provider like Americo ensures that you get affordable rates along with great coverage. 

• Reputation of the insurance provider. An insurance policy is only as trustworthy as its provider. That’s why it’s critical to select an insurance provider that is well-established, financially secure and trustworthy. This will ensure that your loved ones get the care they need after you’re gone, and you’ll have peace of mind knowing they’re in good hands. 

Get in Touch

Still have questions, or just need help getting started? Americo Senior Life is here to help you find the best insurance for your needs. With benefit amounts ranging from $5,000 to $30,000, Americo offers a wide range of coverage along with cash value benefits and premiums that don’t increase as you age. Speak with an Americo representative today to get started, or use our easy online application process and ensure the future you want for your loved ones.