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Life Insurance

Life Insurance Beyond 50

Unfortunately, life insurance is something that often gets overlooked by people busy building families and careers. It’s not until the children are grown and people retire that they suddenly realize they need some type of life insurance to pay for burial and other final expenses.

Life Insurance

The type and coverage range will depend on how much an individual has to spend, their final expenses, and if they want to leave money to a spouse or heirs. The first thing to understand is that life insurance will cost more as individuals age and insurers can refuse to provide coverage at their discretion.

Term Life

This type of insurance provides coverage for a specific amount of time or term and is typically tied to a specific age limit of the holder. If the policyholder outlives the term of the policy, they have no insurance coverage after that point and their spouse or heirs will be responsible for their burial costs – and in some circumstances, any outstanding bills they may owe.

The benefits to a term life policy are that they’re far more affordable than other types and they often don’t require a medical exam. They’re simple, straightforward, and multiple options are available which makes them more flexible. With term life insurance, companies are betting that the policyholder will outlive the policy’s term and they won’t ever have to make a payout.

Whole Life

A whole life insurance policy’s premiums are more expensive since the insurer will have to provide a payout no matter when an individual dies since coverage isn’t tied to a specific age or term. A medical exam and health history will be required and will factor into what premiums are charged.

Unlike a term policy, a whole life insurance policy builds cash value and individuals can typically borrow the equity built over time, without touching the basic payout value. A whole life insurance policy can also be utilized as an estate planning tool.

For more information about how The Sena Group can help you with any

of your insurance needs, please contact us at 561-391-4661.

We can be found on Social Media at the following links.


The Sena Group
6501 Congress Ave., Ste. 100
Boca Raton, FL 33487