Senior life insurance

Choosing the right senior life insurance is crucial, but it doesn’t have to be complicated. At SBLI, we believe in straightforward solutions to protect your future and your loved ones, without the fuss.

The basics of senior life insurance

Senior life insurance isn’t one-size-fits-all. Factors like age, health, and financial situation play a significant role. For those over 70, finding affordable options can be challenging, so timely planning is essential.

Who needs senior life insurance?

Not everyone needs senior life insurance. If your children are financially independent, you have substantial retirement savings, or no outstanding debts, you might not need it. However, many choose it to cover final expenses, which can be significant. Burial or funeral insurance, typically offering a death benefit between $5,000 and $25,000, may be a popular choice.

Other uses for life insurance?

Life insurance can also serve as a form of inheritance or be used for charitable donations. Learn more about SBLI’s life insurance options here.

Types of senior life insurance

Whole life insurance

Whole life insurance offers fixed premiums and coverage that doesn’t expire, along with a cash value component that grows over time.¹ This type of policy can be more costly but ensures a substantial payout to beneficiaries. Whole life insurance is a good choice for lifelong protection and financial planning.²

Term life insurance

Term life insurance provides coverage for a specified period, usually between 10 and 30 years. It’s a cost-effective way to ensure financial protection during the prime earning years, but it does expire if not renewed at the end of the term period.³

Good to know: All SBLI policies include a subscription to LegacyShield — a powerful digital tool that can help build and protect your legacy.⁴ 

Over 115 years of solid financial strength

No matter which type of coverage is right for you, count on SBLI to deliver on our promises:

AM Best – A (Excellent): Our commitment to financial stability means reliable payouts for your policy’s benefits.⁵

Better Business Bureau – A+: Consistently recognized for customer satisfaction and integrity.⁶

Proven Track record: Protecting over 1,000,000 families with more than $187 billion insurance in force and over $3.5 billion in assets.⁷

Other options

Other options come with their own unique features. It’s important to research thoroughly and consult with a life insurance agent to find the best fit for your needs.

At SBLI, we make navigating your options simple and stress-free. Check out your SBLI insurance options today and secure peace of mind for you and your family. Give us a call to get the guidance you need today.

¹ Withdrawals are subject to ordinary income tax and, if taken prior to age 59 ½, a 10% federal penalty.
² Guarantees are backed by the financial strength and claims-paying ability of SBLI.
³ Not all term lengths are available to all applicants. The term lengths available to you are determined by your age when you apply.
⁴ SBLI has partnered with LegacyShield to provide certain products at no cost. Additional LegacyShield products may also be available for purchase. Your relationship or agreements with LegacyShield are separate from your relationship or agreements with SBLI. The kits you may be receiving access to through LegacyShield are not intended to be legal, tax, or investment advice. You should consult your own legal, tax, or investment advisor regarding your personal situation. Products or Services offered under LegacyShield are not insurance and are subject to change. For more information, please contact SBLI at www.sbli.com or via telephone at 800-694-7254. LegacyShield is a subsidiary of SBLI.
⁵ See www.ambest.com for more information.
⁶ See www.bbb.org for more information.
⁷ SBLI Annual Statement 2022