To find the best life insurance for seniors, we evaluated both term life and permanent life insurance:

  • For term life insurance analysis, we used our own research and also data provided by AccuQuote, a national online life insurance agency. AccuQuote has been in business for over 30 years and works with only top-rated insurers.
  • For cash value life insurance analysis, we used data provided by Veralytic, an independent publisher of life insurance research and analytics. Veralytic measures the competitiveness of permanent life insurance products and can provide a customized policy analysis to your financial advisor.

Our ratings are based on:

Cost competitiveness of cash value policies (30% of score): This measures the level of premiums and internal policy charges for seniors, including the cost of insurance, fixed administration expenses and cash value-based wrap fees.

Reliability of policy illustrations (30% of score): We evaluated the reliability over time of the company’s illustrations for senior policyholders for permanent life insurance products.

Term life insurance rates (20% score): We used term life insurance rates for healthy buyers at age 70 for 10-year term life with coverage of $500,000.

Historical performance (10% of score): This measures the historical performance of the company’s investments that fuel cash value growth.

Financial strength (10% of score): This measure incorporates the insurer’s financial strength ratings from four major ratings agencies: AM Best, Fitch, Moody’s and Standard and Poor’s.

Read more: How Forbes Advisor Rates Life Insurance Companies

Compare Senior Life Insurance

Get Instant Rates With Leading Life Insurers

Last Update: June 25, 2024

Tagged in:

, , ,