Policyholders: Frequently Asked Questions

Questions? Call us at 877.777.8808.

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POLICYHOLDERSFREQUENTLY ASKED QUESTIONS

Policyholder Forms

Senior Life Insurance Company has been in business since 1970, and it has always been very important to us that our policyholders understand all details of their policies. Below are two lists of some of the more frequently asked questions that we receive from our policyholders and from prospective clients interested in our products.

If you do not find the answer to your question below, please contact us at info@srlife.net. Thank you for putting your trust in Senior Life.

Life Insurance Buyer’s Guide

Prepared by the National Association of Insurance Commissioners

Current Policyholder FAQs

+Can I borrow cash value from my life insurance policy?

If your policy builds cash value and this value has accumulated, it may be borrowed. Please see your policy for details.

+Can I increase my coverage?

Yes. You can add additional coverage at any age up to age 85. Issuance may depend on your answers to a few health questions.

+How can I update my mailing address?

The policyowner may call (877) 777-8808 and provide the policy number along with your old and new addresses or send a written request which includes the same information to Senior Life.

+How do I report a death?

You can use our online claim form to report a death. If you need assistance, please call our Claims Department toll free at (877) 777-8808, and one of our claims representatives will guide you through the process.

+What do I need to do if I change banks?

It is important that you call us as soon as you change banks and receive your new account information. All you will need to do is simply give us a call, and we will be happy to record your new information as long as your policy is current. You can reach us at (877) 777-8808.

+Where can I find more information about policy types?

You can call us toll free at (877) 777-8808. You can also click here to find out more about our Whole Life Policies and click here to find out more about our Term Life Policies.

+Who has the authority to change the ownership of a policy?

Only the policyowner can discuss matters regarding their policy with us.**Those who have power of attorney from the policyowner may also be privy to this information.

+If I misplace my policy, what should I do?

The policyowner can contact us, and we will send you a duplicate. You can call us at (877) 777-8808 or email your request to info@srlife.net.

+If I need further information or have policy questions, what should I do?

Please call us toll free at (877) 777-8808 or email us at info@srlife.net.

+How can the ownership of a policy be changed?

Please note that only a policyowner may change the ownership of a policy. You can find our Transfer of Ownership form by visiting our policyholder forms page. All requests to change ownership of a policy must be notarized and submitted in writing in its original form.

Prospective Policyholder FAQs

+Why do I need life insurance?

Life insurance will provide a cash death benefit that your selected beneficiary or beneficiaries can use for whatever they choose.

+Should I even apply for life insurance if I know that I have an existing medical condition?

Yes. Even those with health conditions may still be eligible for coverage under Senior Life Insurance Company policies.

+How much will life insurance cost me?

Premium rates for life insurance are typically based on factors such as age, sex, height, weight, and health status including tobacco/nicotine use. The type of policy you purchase will also affect the amount of the premium. Please contact us at (877) 777-8808 for a premium quote.

+Who is a beneficiary?

This is a person or other party designated to receive life insurance proceeds upon the death of the insured. The beneficiary is named when a policy is taken out and can be changed at the request of the policyowner.

+Will my premiums ever increase?

No.

+Can my policy ever be cancelled by the company?

Your policy may only be cancelled by the company for non-payment of premiums. It is important to make sure funds for payment are always readily available to ensure coverage for your family.

+Who will receive my death benefit?

The designated beneficiary will receive your death benefit.

+If I need further information or have policy questions, what should I do?

Please call us toll free at (877) 777-8808 or email us at info@srlife.net.