Eligibility and Basic Requirements
CHIR life insurance accepts applicants over 70 if they meet health‑status criteria and can provide the necessary documentation. The insurer typically requires a recent medical exam or statement, proof of identity, and evidence of income or assets to assess underwriting risk.
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Gather Required Documents
Prepare the following before starting the application:
- Government‑issued ID (driver's license or passport)
- Social Security number
- Recent medical records or a physician's statement
- Proof of income (pay stubs, pension statements, or tax returns)
- Bank statements or asset statements for financial underwriting
Choose the Right Policy Type
CHIR offers several senior‑friendly options, such as simplified issue term, guaranteed issue whole life, and final expense policies. Simplified issue requires limited health information, while guaranteed issue has no medical questions but higher premiums. Select the plan that matches your coverage needs and budget.
Application Process
1. Start the application online or by phone with a CHIR representative.2. Complete the personal and health questionnaire accurately.3. Submit the gathered documents through the secure portal or mail.4. If a medical exam is required, schedule it with an approved provider; many seniors qualify for a waived exam.
Review and Approval
After submission, CHIR's underwriting team reviews the information. Decisions can be issued within 7‑14 days for simplified or guaranteed issue policies; full underwriting may take longer. If approved, you'll receive the policy contract, premium schedule, and beneficiary forms to finalize.
Tips for a Smoother Application
• Keep medical records up to date and request a summary from your doctor.• Disclose all health conditions honestly to avoid claim denials.• Compare premium quotes from multiple carriers, even if you intend to stay with CHIR.• Consider a joint‑life policy with a spouse to reduce costs.
Key Comparison of Senior CHIR Policies
| Policy Type | Medical Exam | Premium Level | Coverage Limits |
|---|---|---|---|
| Simplified Issue Term | Often waived | Moderate | $10,000‑$50,000 |
| Guaranteed Issue Whole Life | None | Higher | $5,000‑$25,000 |
| Final Expense | Usually waived | Varies | $7,500‑$30,000 |