As you get older, and the kids leave the home, most people let their traditional term life insurance policies expire. These policies are to help a spouse or family member pay for a home, replace job income, pay for college and more. Upon retirement, most of these things have been paid off, and the need for life insurance is over. So, at this point it is critical to get a small insurance policy to cover funeral and other end of life type expenses that are not planned for nor covered. At an average cost of $9,000-$10,000, this is not something that is replaced with social security income or other smaller earnings.
It’s a safe bet that 90% of Americans could benefit from even a small burial insurance policy. As only 10% of the US is classified as wealthy, none of us are truly prepared for at least a $9,000 unplanned ordeal. For just a few dollars per month, it is certainly worth it to take out this permanent policy.
A burial insurance policy can be taken out at any age. Remember, you are planning for the unplanned, as a death can occur at any time. The majority of people are 55 years of older who take it, but that does not matter in terms of getting a policy. The sooner you start planning the better.
Yes. Just fill out the form and someone will contact you with policy options. You can choose the one that best suits your needs, and there is no pressure to take out a policy.
These days the average funeral costs are almost $10,000! That a 1200% increase in less than 60 years, and a 320% increase in the last 30 years. Costs will only continue to rise.
Once you fill out the form, you will get a quote. Rates can be as low as $10/month in some cases, and coverage amounts can range from as little as $2,500 to as high as $100,000.
No. The good news is that, when you claim the policy, you can use the money for whatever you need. Burial expenses, medical bills, credit card debt, taxes, whatever you need. The point of the policy is to help cover end of life expenses, but you are not limited as to how you can use the value of the funds claimed.
While policies do not require medical exams, you could be denied coverage for a variety of reasons. The most common reasons are current hospitalization, being in a nursing home or hospice, having less than one year to live, being 90 years of age or older, or having potentially fatal conditions such as dementia, HIV, AIDS, or Alzheimer’s disease.