The Top Life Insurance Options In California For People Over 70 (See the List)
Types of Life Insurance Available
In California, seniors over 70 can primarily choose between two types of life insurance: term life and whole life insurance.
1. **Term Life Insurance**: This type of policy offers coverage for a specific period, typically ranging from 10 to 20 years. It is generally more affordable than whole life insurance and is ideal for those looking to cover short-term needs, such as paying off a mortgage or other debts1.
2. **Whole Life Insurance**: Unlike term insurance, whole life policies provide lifelong coverage and accumulate cash value over time. This can be beneficial for those planning to leave an inheritance or cover long-term expenses. However, whole life insurance tends to be more expensive2.