whole life insurance is available to eligible seniors ages 50 to 80 and provides $5,000 to $25,000 in coverage. Unlike traditional whole life insurance, this policy does not build a cash value, but it offers living benefits at no extra cost. The Chronic Illness benefit returns all premiums paid if the policyholder cannot perform two out of six"activities of daily living" or if they're severely cognitively impaired.
You can also purchase quality-of-life insurance riders for other AIG policies. These riders are Chronic Illness, Terminal Illness and Critical Illness . Just note that policies other than guaranteed issue may require a medical exam.Out of all the life insurance providers we analyzed, John Hancock was noteworthy for its maximums — specifically, its maximum age and coverage limits. John Hancock provides term coverage from $250,000 to $65 million for terms of 10 to 30 years for people up to age 80.
Still, John Hancock is worth considering if you qualify. It has a unique wellness program called Vitality, which offers rewards and discounts for making healthy choices and maintaining healthy habits. And its Aspire program makes it easier for people with Type 1 or Type 2 diabetes to get coverage .This list is meant to be a starting point for your life insurance search. As with any financial product, it's important to shop around and consider your individual needs and goals.