Funeral or burial coverage is typically used to pay for funeral expenses and other very final expenses upon you pass away; but it could be of interest to you. It appears that every time you turn the television on there’s an advertisement for senior citizens searching for life insurance that’s affordable. So is it possible that the life insurance commercials are right for you? The truth of the matter is that it really depends upon your situation. Although it’s generally recommended for anyone over the age of 65 to carry at least a small amount of the policy in case something untoward happens, many seniors fall into the ‘safe’ category – meaning they’re healthy and rarely ever need that kind of coverage.
For those seniors that do have some type of final expense insurance plan, finding life insurance that suits their needs may be much easier. Simply put, burial coverage and/or funeral coverage plans can be obtained without having to spend more money than you absolutely have to. Here’s how.
If you’re like most seniors, you never planned on living past the age of 65. In most cases, this means you never dreamed of incurring expenses for medical services that would increase your age. However, the fact of the matter is that the medical industry keeps expanding every year. Because these medical advances are so expensive, seniors looking for senior life insurance policy are going to need to start thinking about the costs of their eventual deaths.
To make matters worse, it’s common for people to end up spending more on their burial insurance policy than they did on their health insurance plan. The reason behind this is that the two policies don’t generally cover each other’s expected costs. Burial expenses are already high enough without introducing more coverage into the picture. This means that when someone passes away, the final expenses aren’t covered by the family. Because of this, most seniors who purchase burial insurance policies are required to undergo a “contingency” fee when they die.
Thanks to the Internet, finding affordable burial and life insurance quotes is now a lot simpler. With an online broker, anyone can shop around for the best deals in no time at all. In fact, a simple search for “guaranteed universal” life insurance quotes can reveal quotes from dozens of different companies. These quotes are usually generated with your personal information already in place, allowing you to get quotes quickly and conveniently.
Once you receive a few quotes, you’ll want to take them all with a grain of salt. Since you’re comparing only one rate, you won’t always be comparing the same things. Seniors who are looking for life insurance quotes online should also keep in mind that many of these companies will offer a guaranteed quote for their customers. However, not all of them will provide you with guaranteed coverage levels.
You’ll still have to do a bit of shopping around to determine which company will give you the best deal. Remember, no company can give you exactly the same coverage for less. They may either provide a very large face amount for your expenses or provide very little coverage for your expenses at all. While it’s always better to pay a little more for more protection, remember that your senior need life insurance too. After all, without it, they would be paying expenses over their heads for something that they probably will never use.
If you aren’t comfortable providing any of your personal information online, you can always call a senior life insurance brokerage firm. Many of these companies operate just like traditional insurance companies, except they do all the work for you. Instead of having to go through the process of applying for coverage, going through the exam process, collecting the necessary paperwork, and then filling out the insurance policy yourself, you simply sit back down in a chair. A qualified broker will do all of the work for you, putting together a policy that best fits your needs and budget. You’ll be given the option to choose between an array of coverage levels as well as pay amounts, and all you have to do is sign the policy. All you have to do then is to pass your exam and become an independent insurance agent.