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Review of Senior Life Insurance Company.
Kelly Maxwell.
Editor’s Rating: Three out
Summary.
Senior Life Insurance Company collaborates closely with the online company Ethos to provide life insurance products to seniors as well as individuals of various age groups. On the Better Business Bureau, their prices are higher than average and they receive numerous complaints regarding unsolicited phone calls.
| Pros | Cons |
|---|---|
| ✅ Can buy through Ethos online | ❌ High number of complaints |
| ❌ Above-average rates | |
| ❌ Picky with underwriting | |
| ❌ Only up to $30,000 |
In general, Senior Life Insurance Company is not a terrible company, however, they have many areas for improvement.
There are numerous other companies that qualify for our list of the best life insurance companies prior to Seniors Life Insurance Company.
This article provides a comprehensive overview of everything they provide and the prices they charge.
Who is the Senior Life Insurance Corporation?
Senior Life Insurance Company, established in 2000, primarily specializes in selling final expense whole life insurance. However, they also offer term insurance options.
They have thousands of agents across the country and are one of the fastest growing final expense companies in the past decade.
Products offered by the Senior Life Insurance
Senior Life Insurance Company mainly offers whole life insurance for final expenses, but they also provide a 20-year term option.
Instant Protection Entire Life.
This is the final standard expense for your whole life insurance policy. The main product that they offer in the market is Senior Life Insurance Company’s immediate coverage product.
The offering provided by Senior Life Insurance Company is pricier, with the sole differentiation being that it varies from policies provided by other companies like Mutual of Omaha.
Whole Life Insurance with Guaranteed Approval
The guaranteed issue product we have discovered to be significantly higher in cost compared to other companies that offer guaranteed issue policies.
However, they offer this plan to anyone ages 0-85, which can be beneficial for some younger people with very serious health conditions.
If possible, you should attempt to avoid opting for plans with extended waiting periods.
20-Year Term.
Senior Life Insurance Company also offers a life insurance policy with a duration of 20 years.
Regrettably, this is only available for a period of 20 years, and nothing more.
If you are looking for simplified term life insurance, you will find better rates and plans for this product type elsewhere.
Rates for Senior Life Insurance Companies.
Senior Life Insurance Company offers life insurance products with rates that are higher than average.
Here are example prices for their end-of-life insurance offering.
Instant Protection Entire Life – Female Non-Smoker.
| Age | $10,000 | $20,000 | $30,000 |
|---|---|---|---|
| 50 | $24 | $44 | $65 |
| 60 | $37 | $71 | $104 |
| 70 | $62 | $121 | $179 |
| 80 | $127 | $251 | $375 |
Regrettably, they do not showcase prices on their website and require you to communicate with a representative to obtain rates.
Lawsuit against Senior Life Insurance Company
Senior Life Insurance Company has encountered a legal case concerning unwanted messages and phone calls from its staff.
You can find further information regarding the legal case at this location.
While this is a pretty standard practice in the insurance industry, you don’t want to be bombarded with unsolicited texts or calls from a company that you don’t want to work with.
Summary.
In our opinion, there are many other companies, both brokerage and independent agency, that will serve you better than Senior Life Insurance Company.
You can browse through our compilation of the top life insurance companies for older adults here.
Any of the businesses on that roster will provide you with superior service, and these are companies that we frequently collaborate with.
If you have any questions about Senior Life Insurance Company or if you want to receive instant quotes to fill out our life term or life whole expense, please see our quoter to get the final quotes.
FAQs.
Is Senior Life Insurance Company legitimate?
When it comes to unwanted text messages and phone calls, Senior Life Insurance Company has received numerous grievances and even faced a legal case. Nevertheless, their prices are higher than the average and they operate legitimately, indeed.