Final expense life insurance is a type of whole life policy used to pay for final expenses such as funeral and burial services when the person insured dies. This type of life insurance policy helps to lessen the financial burden often placed on a family member when a loved one dies.
Now that you are getting older, however, life insurance might be on your mind. You may be concerned that it is too late to buy any worthwhile coverage. Well, even though it is always better purchasing policies at a younger age, obtaining coverage at an older age may not be as difficult as you may think.
In fact, many life insurance companies offer policies that are created specifically for the mature market. In particular are senior life insurance plans for final expenses. These type of plans often have very few medical question and in some cases have none at all. There are traditionally no medical exams required and features include…
- No medical exams
- No blood draws
- Affordable premium rates that never increase
- Quick underwriting process – policy may be issued in 2 days when application is fully and accurately completed
- Policy can never be cancelled as long as you pay the premiums
- Tax free proceeds under current tax law
- Competitive rates
- Non-tobacco class defined as no tobacco for last 12 months
If you need to explore the possibilities of purchasing a life insurance policy, we’d be happy to help you sort through your many options.