Can Senior Life Insurance Cover Funeral Expenses?

Life insurance is the foundation for your family financial protection.  Benefits offered by any life insurance policy are undeniable. But, if you do not sign for life insurance soon enough, the costs can outweigh the benefits.  If you already are a senior, some companies may reject you, even if you are healthy.

funeral-costs-final-expense-insurance1Or they can charge you extra. Nevertheless, senior life insurance must be purchase.  One of the main reasons is that senior life insurance can cover funeral expenses.  Is never easy to plan your funeral and your postmortem estate, but not making any plan is simply foolish.

A regular adult funeral costs around $7000. And this is the minimum cost, for basic services.  A full ceremony can cost more than $15.000, depending of the quality of the metal casket, funeral monument, tombstone and some additional services provided by funeral company and other suppliers.  Not all families afford to pay so much money from their budget.

So, saving money from time is the best way you make sure that you will be buried during a decent, honorable ceremony.  You must first acquire some data regarding the costs and evaluate how much you are willing to spend for insurance.  There are several types of policies that can be obtained by seniors.

Term life insurance is the most common form of life insurance, but it pays off only if you are not that old when you apply for it. Permanent policies provide more benefits, including borrowing against policy and additional riders.  Also, they have a cash build component and all the benefits will be tax deferred.

You can include a final expense component in your policy or purchase separately. Final expense insurance is one of the preferred policies of the senior citizens, because the premiums are really cheap.

If you start saving money, at the age of 50, for$10.000 coverage, you will have to pay around $40-$50/month. Everybody can afford paying this sum. For more details, you should visit some website offering free quotes.

Our website is the ideal place to visit. You can learn more about life insurance policies and get free quotes. Visit our website!