Can You Entitle Your Grandchildren As Beneficiaries Of Your Life Insurance Over 65?

Children are the most fragile members of a family: they do not have legal, financial or emotional independence. They need to be protected and at the same time, they are entitled to a brighter future. If you have grandchildren, you should consider purchasing over 50 life insurance. The death benefit protects your grandchildren from financial hardship and it can be used to pay for college tuition!

How can you get life insurance if over 65 years?

111aaaAgencies are legally required to insure people up to the age of 65 (if they are healthy enough) and even though some may not offer a plan to someone older than 65 years, others are willing to take higher risks. The easiest way to get coverage, if you are retired, is by applying for a no medical exam life insurance.

How to qualify for no medical exam life insurance?

In order to qualify for a plan, you do not have to take any medical examinations. You only have to complete a simple questionnaire. Because you skip medical tests, you can qualify a lot easier. Most seniors cannot get over 50 life insurance because of their high blood pressure and cholesterol levels. Medical examinations can also show different heart, liver or lung problems! By purchasing no medical exam life insurance, you do not have to worry about these things!

Can you entitle your grandchildren as beneficiaries?

Life insurance policies pay out a death benefit after you die. The payment goes to your beneficiaries and you are free to choose any person or organization you want. Yes, it is possible to name your grandchildren as the beneficiaries of your policy. If they are not of legal age, you can open a trust fund and have the money delivered there. If you want the benefit to cover college tuition costs, you can leave clear instructions on how the money should be spent.

Purchasing a life insurance plan can provide a lot of financial security and possibilities for your grandchildren. It is a nice and generous gesture to secure your grandchildren’s future, but you need to be careful when purchasing a plan! You have to make sure that you purchase a policy you can afford. We can help you find the cheapest quotes available! Click here for more information!