Because senior people are better risks, several big insurance companies make premium discounts available to people smart enough and aggressive enough to ask for them. More and more insurance companies are offering senior insurance discounts like auto insurance discounts, car insurance discounts, health insurance discounts, homeowners insurance discounts, etc. (more…)

PRUPAC (Prudential Project Advisory Committee) estimated that the senior discounts insurance would apply to about 25 percent of its customers.

That low loss rate means a lot to insurance companies. One example: Colonial Penn Property/Casualty Insurance Group, which also specializes in selling insurance to seniors, had enjoyed two decades of strong performance when it decided in the early 1980s to expand beyond its traditional market. (more…)