There are many burial insurance companies with many variations of different burial insurance for seniors.
As a rule of thumb burial insurance for seniors will be cheaper for younger and healthier individuals. But what if you have missed the opportunity when you where younger and healthier and are now considering coverage to protect your family and get peace of mind for yourself? Well it’s never too late to get it because it can still be worth your while.
The important thing to realize is that your burial insurance policy is not an investment but a mechanism that will trigger a specific function when your time is up. Even if you are disciplined enough to put away money every month to save up $10-$20,000 for your own funeral expenses there’s a good chance you will not be able to get there since most seniors life on a fixed income. Worst case you may die before you save up barely enough for a bouquet of flowers and for this very reason burial insurance companies exist.
Also realize It helps your family finance your funeral and take care of what they need to take care of without worrying about how to come up with the money. Even if you have other life insurance policies you may still want to consider burial insurance for seniors because only a burial insurance policy is able to payout almost immediately since it is designed for just that purpose. Regular life policies can take weeks, months sometimes longer before your family sees a dime of the money.
For example if you live in California the following are actual premiums for burial insurance for seniors without medical exams.
The annual premium per $1000 of coverage for a male non smoker 60 years of age with good health = $43.94 (for $10,000 coverage annual premiums will be $43.94 x 10 = $439.40 per year or $36.62 monthly) Coverage begins immediately and it only requires a simple application and phone interview to qualify. Monthly premiums are set up for automatic withdrawals from you bank account. If you want to find out more details about this burial insurance for seniors please contact us