What is Final Expense Life Insurance for Seniors
Final expense life insurance is one of the most important insurance policies a person can get because it eases the financial burden usually placed upon the family members when one dies. Being one of the easiest life insurance polices to get issued it’s no wonder that it is one of the most popular forms of life insurance for seniors age 45 – 90.
Common Final Expenses Covered by a Senior Life Insurance Policy
If you are considering final expense life policy, then you have to make sure that you are fully aware of what it covers. The most common expenses this type of insurance coverage is used for are the following :
• Funeral director’s services fee
• Funeral home and actual funeral services
• Grave site
• Expenses for burial
• Outer burial container or grave liner
There are also unexpected costs that may be covered by the insurance. These include:
• Utility bills, home heating, mortgage and other bills shouldered by the deceased when he/she was still alive (note that these bills still need monthly payments)
• Miscellaneous funeral expenses (examples would be expenses for flowers, mass booklets, priest, organist and prayer cards)
• Catering once the funeral service is completed
• Travel expenses (for loved ones and relatives who cannot afford to fly to the location of the deceased)
Final expense life insurance covers the expenses mentioned above and possibly more.
Benefits of Getting a Life Insurance Policy to Cover Final Expenses
There are numerous reasons why getting a final expense life insurance policy is beneficial for seniors. The first mentionable is that some insurance companies offer guaranteed coverage for people who are between forty-five and ninety years old.
Another benefit of senior final expense life insurance is that it allows your family to benefit financially at the time of your death. The usual coverage amount is between $2,500 and $100,000. Most insurance companies offer this type of policy without requiring you to undergo blood or medical tests.
Purchasing a final expense life insurance policy can be an easy process. Underwriting typically involves less medical underwriting, fewer medical questions, and no exam or blood work is required.
With final expense life insurance, you can feel at ease knowing that your entire family is protected against the financial burdens that usually follow an unexpected death. For a fast no-obligation final expense insurance quote click the following link and complete the form, and view your quotes in less than a minute.