Introduction
Caring for aging parents includes financial planning. One way to protect their future (and yours) is by buying life insurance for parents over 60. Here’s why it matters — and how to do it right.
Why It’s Important
- Covers funeral expenses
- Pays off remaining debts
- Leaves a legacy for family
Types of Life Insurance for Seniors
- Term Life Insurance
- Cheaper, but limited years
- Whole Life Insurance
- Lasts a lifetime, builds cash value
- Guaranteed Issue
- No medical exam, but limited payout
Best Life Insurance Companies for Seniors (2025)
What to Look For
- Fixed premiums
- Fast approval process
- Good claim settlement ratio
Final Advice
Buying life insurance for elderly parents may seem tough, but it gives peace of mind. Make sure to compare quotes and choose a policy that fits your family’s needs and budget.