Burial Insurance Quote Florida

Florida Burial Insurance Quote

Over 4,983,456 Baby Boomers in Florida Need Final Expense Protection

Nearly 26.51% of all of Florida's 18,801,310 in population is considered a baby boomer. As a baby boomer, you may not be aware of the many options available to you for final expenses. Augmenting your life insurance needs with a burial insurance life policies is affordable for the 2,613,065 female & 2,370,391 male baby boomers across Florida. Create peace of mind for your loved ones by contacting our Living Legacy agents local to your city in Florida below.

Final Expense Insurance Quote in Florida

Understanding Burial Insurance for Parents in Florida

Sometimes you may find that your parents in Florida are no longer in a position financially to purchase an insurance policy like burial insurance to help cover their final expenses in Florida after they pass. If they are in poor health or if they are on a fixed income, they may not be able to pay the monthly premiums required for this kind of insurance coverage.

In these cases, the children of the parents in Florida can step in and purchase the policy for them to make sure that all funeral expenses are covered in the future.

Why Purchase Burial Insurance in Florida?

Funeral costs in Florida are steadily rising each year and throughout the United States which means it is becoming increasingly difficult for Florida families to cover all of their loved one's final expenses without experiencing some form of financial hardship or strain.

Some costs involved in the funeral include the casket, the body preparation, viewing, casket, service, death certificate, and obituary listing. These costs can add up quickly, and the average funeral in Florida can cost upwards of $10,000 or more depending on the location and the services you choose.

For this reason, it makes sense to purchase a burial insurance policy in Florida for your parents because you will ultimately be the one that is responsible for paying these expenses. Legally speaking, you have to prove that there is some kind of insurable interest between your parents and yourself.

Choosing Burial Insurance in Florida

After deciding to purchase burial insurance in Florida, there are several elderly insurance options you can choose from. Many of these options are based on the health of your parents. The options you may be presented with include term life insurance, burial insurance, and graded benefits insurance.

Term Life Insurance in Florida

This type of insurance in Florida requires a medical examination to prove that the insured is still in good health. The policy is also for a fixed period of time - typically, it is a term of 5, 10,15, or 20 years). The insured person on the policy is also covered up to the age of 85, but this may vary depending on the insurance company's guidelines.

With this type of insurance policy in Florida, you will find that the premiums begin to increase when it gets to the end of the term. This is because many aging parents will outlive the fixed term specified and in this case, the policy will be converted into a whole life insurance policy instead.

Finally, with this type of policy, you may also want to consider adding in a burial insurance policy in Florida as well in case they do outlive the term defined in the policy you purchased.

Burial Insurance in Florida

This insurance option is ideal for elderly parents in Florida who are still in good health standing. There is no medical examination required, and the insured is covered for the duration of their life. Additionally, the premiums are fixed and will never change - meaning you will never see an increase or decrease in the monthly premiums you pay for the policy.

You will also find that the cash value of this type of policy increases with time as well and if they are healthy, you will receive the full benefit from the day after you purchase the policy in Florida and beyond. The coverage can never be canceled as long as you continually make on-time payments and the policy covers the burial costs and other final expenses.

Graded Benefits Burial Insurance

This type of insurance in Florida is often considered the middle ground between the three available options. Like the burial insurance, there is no medical examination required, and the insured is covered for life. The policy premiums also always stay the same while the policy increases in cash value over time. However, you will only receive partial coverage for the first two years following the policy purchase.

For most policies in Florida, you will not actually see the full amount of benefits and coverage until the three or four-year mark has passed. However, the insurance company cannot cancel coverage as long as you continue to make the payments on time and the proceeds can still go toward covering the burial costs and final expenses in Florida once the term limits are up.

Now that you are aware of the policies that are available to you in Florida and the benefits each of these policies award you, it is time to sit down with your parents and discuss these elderly insurance options to help ensure a stable and secure financial future while being able to provide the funeral your loved ones deserve in Florida.

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