Life Insurance for Elderly

 

   
       
 
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Burial Insurance for Seniors and the Elderly

Burial life insurance is permanent whole life insurance coverage that isBurial Life Insurance intended to cover the costs associated with a burial.

 Most seniors and elderly recognize that the cost of a funeral is significant and it continues to rise each year.

Without life insurance, those costs can be a major burden for family members who are left behind, during an already stressful time.

If you are thinking about getting a policy to cover the cost of your final expenses, then here are some costs to consider:

Typical Funeral Costs

 Professional services  $1,595
 Embalming  $   550
 Other body preparations  $   203
 Use of facilities / staff for viewing  $   406
 Use of facilities / staff for ceremony  $   463
 Transfer to funeral home  $   233
 Hearse  $   251
 Service car / van  $   120
 Basic memorial printed package  $   119
 Casket  $2,255
 Vault  $1,128


Estimated Total Cost*                                  $7,323 

On top of burial costs, there may be other final expenses to consider such as taxes, probate costs, and final bills. These only add to the financial burden left on family members when a loved one passes.

Your Choices Are:

  • Leave the burden to family or friends
  • Prepay for a burial in cash
  • Borrow money from a bank

OR

You can plan ahead for the costs of your burial and other final expenses by getting an affordable burial insurance plan. This is usually the easiest and most affordable way to provide peace of mind for you and your loved ones. You can get a burial insurance policy that fits your budget and your needs.

Features of a Burial Insurance Policy

  • Permanent coverage that will last for your lifetime
  • Level premiums that will never increase
  • Accumulates cash value on a tax deferred basis
  • $2,500 to $50,000 worth of coverage
  • Available for ages 50 to 85

What About Health Issues?

Most seniors and elderly have some type of health issue. This can range from something minor like high blood pressure or high cholesterol that is controlled with medication, to more serious problems such as diabetes, heart disease, or cancer.

If you are worried about qualifying for a policy for your health, then you should know that there are several different types of policies available. Many seniors and elderly can qualify for standard rates with day one coverage. Those with major health problems can still qualify for a guaranteed issue life insurance policy with graded benefits. 

Ready for a Quote - Get Started Today

The first step when looking for a burial insurance policy is to shop around. Rates can vary by as much as 70% from one company to another, so it definitely pays to compare. Give yourself and your family the peace of mind that comes with proper planning. Get a quote today and compare multiple rates for elderly burial insurance from several leading carriers.