Nobody can predict the future, so Graded Benefit – Because funeral insurance pays in cash, the beneficiary can spend the money in any way that he or she needs to at the time. If you buy burial insurance for a senior, you will not be tied to any particular funeral home, location, or type of funeral. We know that there is no one best type of burial policy for your parents or yourself. That is why we provide multiple ways to compare burial insurance for seniors. If you would like to compare quotes from the comfort of your home or office from the nations best burial insurance companies, just provide the quote box at the top of this page with your ZIP code. You are also very welcome to give us a call and ask to speak with a licensed insurance agent for help with purchasing a life insurance policy from one of the top life insurance companies.
These averages come from the National Funeral Directors Association:
These averages do not include all of the funeral costs, such as the cemetery fees, monuments, flowers, and other expenses. They also do not account for other final expenses on top of the cost of a funeral that may have to get paid like medical bills, moving costs, travel, transporting a body to another city, or compensation for losing time at work. It is also important to remember that these average costs have been rising, so it is likely that they will be even more expensive in the future. Also, you are free to help your parents shop for burial insurance for seniors. You are also free to pay the premiums for your loved ones' final expense insurance. But there are a couple of things to keep in mind:
The cost of a burial insurance policy will depend upon coverage amount, age, health, company, and exact location. While many seniors find the rates affordable, grown children often also offer to pay the premiums because they are actually the ones who will benefit from this coverage. In any case, senior citizens and their adult children are usually relieved to find a good way to financially plan for the expense of a dignified funeral. These are example monthly burial insurance rates for relatively healthy individuals for a $10,000 face value plan in different states in the US:
Important: These are only sample burial insurance rates, and it is important to understand that these could vary because of company, underwriting, or location. The type of life insurance that you purchase (term life, whole life policy, etc.) and the cash value of the policy will have an impact, too. It's smart to shop around for final expense life insurance so that you can find the best insurance coverage for the best price.
There probably is some type of burial insurance plan for almost everybody, but it is important to understand how these plans work in order to find the right one. Before selecting one, you should consider both the price and the benefits. You might also consider some of our online or offline suggestions for companies with good reputations. Burial insurance for seniors is actually a type of whole life insurance that is very easy for older people to apply for. While qualifications differ by company, they are often open to people from middle age to about age 80. Some companies accept applicants up to 85. Consider these two basic types of burial insurance, so you will understand how they work:
You might wonder why anybody would want to answer medical questions or undergo a medical exam if they don’t have to. Typically, there will not be any questions about minor medical issues like controlled high blood pressure, high cholesterol, or a broken leg. By answering a few health questions, the applicant might qualify for a cheaper rate for premium payments and coverage with no waiting period. With guaranteed acceptance burial insurance for seniors, there will be a waiting period between two years to three years that the insured person must survive in order to make the full death benefit payable. If the insured person does not survive this waiting period, the plan may pay out a defined part of the full death benefit or return premiums, possibly with interest. Obviously, it is better to qualify for no waiting period and cheaper rates, but a guaranteed acceptance plan might be the right choice for an elderly senior who is seriously ill and cannot qualify for a plan with an immediate death benefit and lower rates. Since companies offer to refund premiums or pay part of the face value if the insured person does not survive the waiting period, the family will not lose any money. We can help you find the right choice for yourself or an elderly family member.
The right choice of burial insurance depends upon age, location, health, and the amount of coverage desired. Some folks just want to be sure they have enough money to pay for a funeral, but others would like to purchase a larger plan that can also provide enough money to leave their beneficiaries an inheritance. Using burial insurance for seniors as a way to leave an inheritance offers many advantages. We work hard to make shopping for the right burial insurance policy as easy as possible. First, we offer online burial insurance quotes, so that you can compare different companies and options from your own computer. All you have to do is enter your home ZIP code to get started. After comparing some good choices, you can also call us and ask to speak with a professional and licensed agent. By offering our clients tools and personalized service from experienced agents, we strive to help as many people as possible find the right solution at the right price.
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