Most people are in good health so this is the time to find cheap burial insurance. Many times, adults have term insurance that they purchased in their 20’s and 30’s and that insurance tends to expire in their 50’s. When that happens, a decision needs to be made about what kind of insurance you should buy next. With life expectancy growing every year, the solution to this problem is buying cheap burial insurance for final expenses while you are in good health and rates are the lowest they will ever be.
Term Life Insurance vs. Whole Life Insurance
The term insurance that most people need in their younger years is used to cover living expenses and the cost of raising children should one die at a young age, leaving family members in a financial crisis. These policies are usually 20 or 30 years at a fixed monthly premium. However, life policies all terminate/expire, leaving clients without coverage at the end of the term. If another term policy is purchased, that leaves you open to an extremely high rate of coverage when you renew in your 70’s or 80’s when you need your policy the most. The solution to this problem is to secure a whole life insurance policy instead of a term policy while in your 50’s. Whole life insurance is just what it sounds like- coverage for your WHOLE LIFE. Sometimes this type of policy can be called burial expense insurance, final expense insurance, or even funeral expense insurance because it is purchased at a time when those are the primary needs from the life insurance policy. When transitioning from a term life to a whole life insurance policy, the insurance needs are often less than when you are just starting a family. You can adjust your benefit needs based on projected final expenses upon death such as covering funeral expenses, outstanding debts, and any monies designated for family members. A wide range of benefits for final expense insurance are available.
Cheap Burial Insurance for Final Expenses
The main reasons for securing cheap burial insurance for final expenses is because the monthly rate is determined by age and health and you will never be younger or healthier than you are today! Assurance Life uses numerous companies meaning YOU are our customer, not the insurance company. We are able to get the best final expense insurance with the company that meets your needs. Even if you have a health condition or prior health problems, we have no exam life insurance policies with GUARANTEED ISSUE for all applicants, regardless of current or past health conditions. These guaranteed issue life insurance policies don’t even ask any health questions, so your acceptance is guaranteed. Assurance Life can help you take the next step in your whole life insurance needs and give you peace of mind to know you will continue your insurance coverage once your term life policy expires. The time is now while the rates for cheap burial insurance are as low as they will ever be.
Why it is important to use an independent broker?
This one is very important when looking for cheap burial insurance. Using an independent agent saves you a lot of money and can save you a lot of time during the buying process. Most independent agents like Assurance Life have access to many Burial Insurance Companies that they work with. This is important because each burial insurance company will view your health conditions differently. So finding the right plan and right company based on your individual health situation is critical. This assumes you like to save money and want the right policy for your needs. Buying direct from one funeral insurance company is often not your best option. They will only have one plan available to choose from and only one price. Plus, one company means one set of rules when it comes to underwriting. You need an independent agency with multiple funeral insurance companies working for you to find the most coverage at the lowest price. This is the best way to find cheap burial insurance.