Senior Life Insurance In North Carolina

Discussing senior life insurance in North Carolina might not be as much fun as taking a day trip to the Carolina coast, but it is nice to know that there is a way to prepare for final expenses like funerals, settling up credit card debt, and even leaving some money behind for family members. Seniors and their family members have a variety of choices. It is important to find the right one before making a purchase decision.

We make it fast and easy to compare North Carolina senior life insurance. You can complete our simple online form and view life insurance quotes within seconds.

Senior Statistics for North Carolina

These are some interesting facts about senior citizens in North Carolina:

  • Average NC age of death: 79.6
  • NC population over 65: 14.3%
  • Average NC home value: $153,600
  • Average NC household income: $46,450

More senior citizens live in the largest North Carolina cities, and here is a list of those cities with their total population:

  • Charlotte: 731,424
  • Raleigh: 403,892
  • W. Raleigh: 338,759
  • Greensboro: 269,666
  • Westboro: 229,617

Life Insurance Rates for Seniors in North Carolina

Many North Carolina senior citizens, from 50 to over 80 years old, can find affordable life insurance. You probably already know that premiums could depend upon age, health, location, and insurer. We give you an opportunity to see personalized prices online.

To give you an example, consider these sample monthly premiums for an 81-year-old North Carolina man who does not smoke and wants permanent life insurance:

  • $8,000: $116.67
  • $12,000: $173.33
  • $20,000: $313.01

Note: These prices are samples, and your own may vary because of your age, the type of coverage you want, your health, and the insurance companies you compare.

Types of Life Insurance for Senior Citizens

If you are shopping for yourself or elderly parents, you might consider these kinds of life insurance:

  • Term insurance: Usually only available for younger senior citizens with no severe medical issues, term policies will be cheaper than permanent policies. People in their 50’s and 60’s may also be able to find no medical exam term life, but they will still need to answer health questions.
  • Whole life: This is permanent insurance that does not expire like term, so premiums will be somewhat higher. Depending upon health, you can choose between guaranteed acceptance and simplified issue policies.

When you look for life insurance for older seniors, it is important to understand the difference between guaranteed acceptance and simplified issue. They are both no exam policies. Guaranteed issue policies are often advertised on TV, and it is true that you do not have to answer any health questions on the application. The problem is that these plans will cost more and impose a waiting period before paying out the full benefits.

It is better to try to qualify by answering a few questions in order to get cheaper premiums and an immediate death benefit. If you’re not sure which option is better for you, you can always contact us for help.

Compare North Carolina Life Insurance Quotes and Plans

In fact, we want to help you find the best policy for you or your elderly parents. By filling out our quick form, you can see offers from the best life insurance companies in North Carolina. We strive to help all of our clients find the right policy at a fair price.