Why Burial Insurance?
- Peace of mind for those you love
- Protection when you need it most
- Affordable policies for everyone
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Regardless of the type of funeral one thing is certain, when a family member dies, the survivors suddenly find themselves confronted with major expenses. Besides needing money for funeral and burial costs, you may need money for outstanding medical expenses not covered by insurance or government programs or legal expenses related to estate settlement.
No Medical Exam Required
Coverage up to $25,000
Death Benefit Never Decreases
Premiums Never Increase
Final Expense For Seniors
In the United States, the majority of the population is sixty five years old or over. If you are a senior who is sixty five years of age or older, or if you have a family members who are close to sixty five years of age or older, the funeral expense of a sudden death in the family may surprise you. The expense for a basic funeral is $7500.00 . These days with the lack of entrepreneurial drive in the USA and the state of the economy being what it is, many of the individuals who are sixty five years old or over do not have $7500.00 on hand for a senior’s burial expense. The time to start thinking about how to pay for a funeral is before it happens. In addition to the burial expense, there may be other outstanding costs such as creditors who require payment. In addition to the burial expenses, the family may accumulate expenses while they travel to the funeral or while they prepare their loved one’s deceased body for burial.
The cost of a funeral may seem expensive, especially as an unanticipated expense. However, in the larger scenario, it is really a small expense, especially considering life insurance costs and benefits. Burial expense insurance is a practical form of life insurance, even for seniors over sixty five years of age with deteriorating health concerns. The face values of the burial insurance policy may seem insignificant when compared to the face value of the life insurance policies.
Any way that you look at it, burial expense life insurance is an intelligent investment for seniors. Burial expense insurance is a whole life insurance policy with a minimal face value. In a country such as the USA where many seniors survive on fixed incomes, the face value of a burial expense life insurance policy may be a bargain. Some face values of burial expense insurance may be ten thousand dollars, others may be as high as $50,000. The burial expense insurance becomes costly if you wait until your health deteriorates. when purchased by individuals in good health, burial expense insurance has fixed payments and there is no expiration date.
There are a variety of burial life insurance companies that offer a variety of burial insurance final expense products . Some burial insurance policies offer coverage which begins immediately. For those who are not in the best of health, guaranteed life insurance is the solution. In guaranteed life insurance plans, there is usually a period of acceptance. If the policyholder survives this period of acceptance, the policyholder’s heirs inherit the face value of the policy upon the policyholder’s death. For many people, guaranteed life insurance is the right decision. Being informed helps a person prepare for the unexpected expense of burial. Don’t wait until the last moment to purchase burial expense insurance. The best time to purchase is now. Contact your burial expense insurance agent today.
Two Types of Burial Insurance
Once you have decided that Burial Insurance is for you, there is one more key decision that you will have to make before enjoying blissful peace of mind. The decision you have to make is that of the two types of burial insurance on offer today, which are known as “Simplified Issue” and “Guaranteed Issue” – neither of which is mercifully as complicated as it sounds!
First of all there is the Guaranteed Issue for of burial insurance, which is the type you are already 100% guaranteed to be accepted for regardless of your circumstances or condition. This is a hugely popular option in that it demands no medical examination or tests of the applicant. How is it possible to accept all applicants unconditionally? Well, this particular kind of policy is offered at a slightly higher cost – costs which make it possible to offer extensive cover and peace of mind without any of the usual health questions and medical checks. The fact that these policies are of course higher risk for obvious reasons makes the slight increase in cost inevitable, though Guaranteed Issue plans continue to be massively popular and infinitely valuable for millions all across the US today. Guaranteed Issue plans will also usually require policy holders to make payments for at least two years before their policy can be used/withdrawn.
On the other side of the fence there is the Simplified Issue option, which is seen as the preferable choice by most and comes with lower costs. In order to qualify for this type of policy however, applicants must answer further questions and undertake a medical examination. Once the results of the medical screening have been forwarded, the policy can be issued directly in line with the current health and circumstances of the applicant and ensure peace of mind is granted quickly and absolutely.
There is simply no better way of removing a massive financial burden from family and friends than by ensuring a perfectly tailored policy is taken out at the ideally suited moment. Everybody Wins! The truth of the matter is that there are no right or wrong choices when it comes to picking between the two – it is simply a matter of personal preference and determining which you think fits the bill best.
Both policy types are after all geared toward the same result and will naturally cover the vast majority of the expenses that may otherwise cripple your family and friends following your death. As soon as the policy is in place, the feeling of relief is simply impossible to describe as you and those around you can let go of every financial worry for the coming years. This in turn frees you all up to enjoy every waking minute together and know that the happy memories you leave behind will not be tainted by eye-watering bills and debts. You can be rest assured that matters like this will be taken care of when you are not around to make sure of it.
Know Your Options
Regardless of the type of funeral one thing is certain, when a family member dies, the survivors suddenly find themselves confronted with major expenses. Besides needing money for funeral and burial costs, you may need money for outstanding medical expenses not covered by insurance or government programs or legal expenses related to estate settlement.Learn More
What to Expect from Final Expense Life Protection
If you are thinking about taking out a final expense life insurance policy, you’re technically half-way there toward exquisite peace of mind already. The trouble is, while the vast majority don’t particularly like discussing their own death or that of their loved ones, they also don’t want to think about the ideal of leaving their nearest and dearest struggling after their death. Sadly, failing to address a number of major financial matters can leave behind far more than happy memories alone.
Baby Boomers Need Final Expense Life Protection
According to U.S. statistics, there were over 76 million Americans born between 1946 and 1960. If you were born in this timeframe, then you are considered a baby boomer. As a baby boomer, you may not be aware of the many options available to you for final expenses. One of these options is final expense life policies, to complement your life insurance needs. You may not have a significant estate that your loved ones can use to pay your final costs.
How to Purchase Final Expense Life Insurance
Burial final expense insurance can be purchased by anyone who is alive. Before purchasing burial final expense insurance, the questions to ask are the following: What class of service would you prefer? Do you imagine a church filled to capacity with mourners? What kind of music would you like at your funeral arrangement? Burial insurance guarantees that your funeral costs will be covered without placing a financial load on your family.