Contrary to popular opinion, every adult needs an insurance policy to secure their future financial well-being.
A final expense life insurance policy is purpose-designed to help individuals plan for their funeral and last wishes. This helps prevent planning hassles and unwanted burden on the deceased’s family.
Let’s see what insurance experts at Senior Insurance Partner have to say about the importance of final expense life insurance.
Understand the Concept
More often than not, applicants don’t rely on final expense life insurance plans because they think that the policy only covers funeral expenses. However, this isn’t entirely true.
Final expense life insurance policy helps the deceased’s family plan and arrange final services, without being burdened by unexpected expenses. The applicant can name a family member as the beneficiary who will get access to the amount.
It Doesn’t Expire
This is the best part about a final expense life insurance plan. The policy stays valid even if you live for a hundred years. Final expense coverage is similar to life insurance but offers better rates and lower premiums.
It Covers Many Things
People think that final expense coverage only pays for funeral services and memorials. However, it covers much more than that, such as:
- Funeral arrangement
- Agent fee
- Memorial arrangement
- Embalming: casket, cremation, burial, urn
- Burial vault, plot, headstone, obituary, and flowers
Is It Worth It?
Planning ahead is always better than waiting till the last minute. Whether it’s securing your kids’ future or covering assisted living expenses, a lifetime insurance policy can help. Senior Insurance Partner strongly advocates in favor of insurance for seniors.
A guarantee, life, term, or final expense life insurance allows seniors to get their preferred type of funeral ceremony. It helps them communicate their wishes to family members. Here’s how you can make the most of your burial coverage plan:
- Evaluate your needs: the type of ceremony, casket, burial spot, and other specifics.
- Assess your current savings
- Understand your health concerns
- Decide how you wish to distribute your estate
- Determine if you need a supplemental insurance plan
Affordable Life Insurance Plans for Seniors in the US
Now that you’re all set to buy a funeral expense life insurance plan for seniors, get in touch with Senior Insurance Partner. The insurance company for seniors is run by two highly skilled insurance advisors, Brandon Rigoni and Zachary Vitale.