Burial Insurance For the Elderly – A Comprehensive Guide
Article by John Case
Burial insurance is becoming one of the most popular insurance policies these days particularly to seniors as a lot of them generally anticipate the dawn of their days. While most of them have life insurance plans, some either fail to renew their plans or their life insurance coverage has lapsed. Given this, many senior citizens would rather opt for funeral insurance than have their loved ones pay for their final burial expenses.
If you’re a senior citizen and is still apprehensive if you would consider purchasing a burial insurance or not, here are few features of funeral policies that may help change your mind:
· Permanent insurance coverage doesn’t give variable rates. Meaning to say, the premium rates are fixed and a major possibility of an increased payment will never happen regardless of the market movements and the like.
· The medical reimbursement advantage. An insurance company will cover the actual sum to the premium amount declared in your insurance policy. Therefore, if there are unpaid sums that concern your medical bills, the insurance company will be the one responsible in paying for all these outstanding balances.
· There are varieties of funeral insurance options to choose from and each corresponds to particular premiums to be paid. You can also find affordable insurance options with absolutely no medical examinations required.
Since most seniors are very much vulnerable to serious health conditions, you might be asking if there are probabilities where insurance companies turn down clients who have serious and major health issues. The answer to this is NO. You may be entailed to pay for a much higher premium rates, but no insurance company would turn down such client for the mere reason of an individual’s serious health condition. However, an elderly must be between 50 to 85 years old for them to get qualified. Although people ages 1 and above can avail of burial insurance, those in their senior years need to be in the given range of qualifying ages for them to meet the criteria.
As a final point, there are a lot of insurance companies offering affordable funeral insurance rates to the elderly. All you need to do is find a licensed and reliable agent who works in different final expense companies to provide you of better options. As each insurer has different underwriting policies and requisites, employing the service of an agent would help a great deal for you to stumble upon the best funeral life insurance coverage.
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