Are you concerned about leaving your family with a big bill at the end of your life? Do you want to take the burden off of your loved ones by purchasing a life insurance policy as a senior citizen? Do you worry that you will not be able to afford the monthly payments? You might be surprised how affordable a final expense life insurance plan can be for seniors today! You can have peace of mind that your family will not have to beg, borrow, or incur debt to cover your final expenses.
When purchasing a final expense or burial insurance type of policy as a senior, there are a lot of things to take into consideration. Final expense policies are whole life policies that will pay your family to cover the cost of your funeral or cremation and any final debts you many owe. The average death benefit is between $2,000 to $30,000. Policies are issued up to age 85.
Do not buy anything through the mail! I hear complaints from seniors all the time who took it upon themselves to purchase a product that was not suitable for them or in their best interests! Use an independent agent who is contracted with multiple carriers so you can be worry free! The independent agent is your friend!
There are many carriers who can and will accept your specific medical conditions. Not all carriers have the same requirements, so one company may not offer you same day coverage if you take a blood thinner, while another carrier will! One carrier has higher rates for smokers and another carrier will consider you a non-smoker if you only use a pipe, cigar, or smokeless tobacco. You have options, so it is best to work with an experienced independent agent who is up to date on all the different carriers and can find you the best policy for your needs and your budget!
Do not work with an agent who only represents one carrier. That is the biggest mistake you can make and can cost you big time in terms of monthly premiums and how long it takes before the policy will pay out in full.
Working with an independent agent is the way to go. Independent agents have your best interests at heart. Protecting your family is what life insurance is all about. If you want to get the best policy that you qualify for based on your needs and your budget, consider using an independent agent!