AARP projects that over 110 million Americans will be over 50 by the year 2020. One of the major concerns for this age group is planning ahead so their Senior Life Insurance for funeral expenses plan covers their final expenses, including funeral cost, debts owed, and any monies left to friends or family. More importantly, Senior Life Insurance gives families peace of mind that expenses are paid for in this time of need so families can focus on remembering their loved ones. Assurance Life works with seniors everyday. If you are looking for a senior life insurance policy to cover your final expenses you have come to the right place. Assurance Life has access to over 25 of the best Senior Life Insurance companies so finding the right plan for you won’t be a problem. Call us at 800-517-0810 to speak to one of our licensed agents.
What is Senior Life Insurance for Funeral Expenses?
Senior Life Insurance for Funeral Expenses is a whole life insurance policy intended to pay the expenses families incur upon the insured’s death. Sometimes these policies are called burial insurance, funeral insurance, or final expense insurance because these are the types of expenses most people use the death benefit for. The Senior Life Insurance plan covers you for your WHOLE LIFE, so long as the monthly premiums are paid. Plus, these plans can’t be cancelled due to age or health. However, the best benefit of all is that your monthly premium will NEVER increase. Senior Life Insurance is perfect for empty nesters who don’t need quite as much life insurance coverage now that kids have left home and want to secure the lowest rates for the most insurance while they are as young and healthy as they will ever be. Others who benefit from Senior Life Insurance are those who might want to add to existing policies or replace term life policies at the lowest rates possible. Maybe you have life insurance through your work and once your employment ends so does your policy? Regardless of your needs, Assurance Life is here to help.
How much Senior Life Insurance do you need?
Funeral costs are rising every day and over 50% of people over age 50 are no longer in the workforce. In fact, the average funeral in the United States is now ranging from $7500 to $9000. This means that every penny counts when deciding how much life insurance you need. The first place to start is deciding on burial or cremation as well as looking at other funeral costs in your area. Assurance Life can help you calculate these costs to get the death benefit that is right for you. Its important to only take out the amount of senior life insurance that you can afford. The last thing you would want is to take out a policy and have to let it go because you can’t afford it months later. Unfortunately, in this situation you would lose all the money you put in. Other questions to ask are if any debts are shared with beneficiaries which could be collected upon and if you would like to leave money to family members. Policy amounts can vary from as little as $5000 up to $50,000 due to the many different needs people have. Assurance Life always recommends to take a little extra out if you are below the age of 50. Unfortunately, we don’t know what a funeral will cost 30 years from now. So its important to budget on the higher side.
How to shop for Senior Life Insurance
So what’s next? It is time to choose the company that has the right Senior Life Insurance plan for you. Assurance Life works with many funeral insurance companies so our clients can be sure that YOU are our customer, not the insurance company. We have companies like Mutual of Omaha, AIG, Gerber, and more so that regardless of age or health, there is a burial insurance plan to give your family peace of mind. Some plans are Guaranteed Issue, meaning that you are automatically approved despite any current or previous health problems. Also, NO MEDICAL EXAM is needed and the application is quick and easy. Assurance Life offers FREE BURIAL INSURANCE QUOTES so you can compare rates and benefit amounts and choose the best plan for your budget. Rates are based on age and health so act now since you aren’t getting any younger!