![]() A policy is usually kept in force by paying premiums, or by having the policy “paid up”. This means that the policy will stay in force as long as the policy is kept in force. These are, basically whole life insurance policies. However, some life insurance companies have developed senior life, guaranteed life insurance, or final expense life insurance programs to meet these needs. ![]() As if an advanced age were not enough, health problems may make us very tough or expensive to insure at all! Also, by the time we reach maturity, we may also have developed more health problems. However, we find many senior citizens and retired people who have not had the good fortune to be free of obligations, and with sufficient savings to cover their debts, final expenses, and other obligations. ![]() ![]() The theory behind term life insurance is that by that time the insured person will have fewer obligations, and they will have enough money saved to self insure. However, the problem with term life insurance is that it expires just when the covered person would find it harder to find the protection, after ten or twenty or thirty years, the term life insurance expires. Term life insurance policies are very popular these days, and of course, they can provide very valuable protection at a low cost for many people. ![]()
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