Affordable Life Insurance for Seniors
Burial insurance is the most affordable life insurance for seniors who are looking for a permanent solution for their final expenses.
It’s easy to qualify for coverage — even if you have pre-existing health conditions — and the policy doesn’t expire like a term policy.
Burial insurance, also known as final expense insurance, has a smaller benefit — often no more than $50,000. This is because they are simply meant to cover funeral, burial costs, and some leftover bills.
They are a popular way to pay for funerals and burials in the senior crowd as there is no medical exam required to be approved coverage. It is a whole life insurance policy which means the price never goes up, coverage never decreases, the policy never expires, and cash value accumulates.
How much is final expense life insurance?
Is there a waiting period?
There are in some instances, but there is usually a way to find a policy with no waiting period.
However, to do this you have to answer health questions and be approved. There is still no exam required, however.
If you do not want to answer health questions, there is a waiting period between two to four years. This will always be the case and it does not matter who you purchase your policy from.
But there’s a good chance that we can find at least one company who will offer no waiting period for you.
What if I pass away during my waiting period?
If you choose to not answer health questions, have a waiting period, and pass away during that time, your beneficiaries will still receive a predetermined amount as a death benefit. It is always at least what you paid into the policy, if not more.
How to get affordable life insurance for seniors
There are a number of ways to make sure you’re getting a fair deal on your policy.
First, you need to be shopping more than just one carrier. Going to just Gerber or calling the number on the television commercial we’ve all seen is not enough.
Second, you need to come up with a good idea of how much coverage you need.
Our website is dedicated to helping you accomplish both of these tasks for you. We shop your policy through all of the highly-rated burial insurance companies to find you the best price for you. Then, we are able to put you in touch with an insurance agent who can help you in your area.
This saves you time you would have spent calling dozens of companies trying to find the best price. It also helps you to avoid getting in contact with a company with a poor financial rating who may give your family trouble collecting on your death benefit or saddling you with a premium you can’t afford.
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