Senior Life Insurance, Do You Need It?

senior life insuranceSenior life insurance is a whole life policy that seeks to settle an individual’s end of life debts, burials and other end of life costs associated with settling the estates. Senior life insurance is identical to what was formerly known as final expense life insurance or burial insurance. Typically, these policies range from ten to twenty thousand dollars of coverage.

There are some small policies in existence that will also cover the low cost of some funeral services like cremation. They function like smaller versions of whole life policies that are for specific purposes like final expenses, and they function in much the same manner.This insurance can be carried for life and builds cash value, as well as a tax free death payout to beneficiaries and the cash value can be borrowed against.

There has been a heavy proliferation in the acquisition of senior life insurance since the development of term life insurance. Formerly, when families first started out, they would purchase a sizeable whole life policy that the family would keep until death. The use of the policy in this manner was due to the inexpensive nature of this insurance product.

Since the inception of term life insurance policies, families have begun to purchase term life to cover large expenses, college, children and mortgages. After the responsibilities of the young family have been satisfied and term policies expire, these families often purchase small senior life policies to cover the present needs of the maturing family.

This allows the insurance policies and benefits to change as the needs of the family changes. This insures that the family does not purchase unnecessary policies over a lifetime, and this makes insurance cheaper overall for the families.

The average cost of funerals is often listed as approximately six thousand dollars, but the reals costs average eight to ten thousand. There are several hidden fees that are not listed in advertisements or when funeral directors give estimates to prospective clients without detailing the exact lists of services or final costs.

Funeral costs are composed of the funeral director fee, headstone and cemetery services. In some cases, pre-paid burial plans are opted for instead of senior life insurance to cover final expenses. The benefit of pre-paid plans is that they allow the insured to plan their own arrangements and not burden the family with the responsibility in their most vulnerable time.

Some pre-paid plans are now written so that if the plans are not fully paid or if there has been a significant increase in the market rate of the services at the time of death, the family could still incur significant charges over the plan’s assigned rate. In addition, pre-paid burial plans are commonly not transferable across state lines, and the penalty for cancelling these plans could be thirty percent or more of the value of the plan.

Senior life insurance is a completely better insurance product. Senior life coverage provides instant protection that is not only transferable across state lines, but they can be completely modified to reflect changes in life’s situations. To help families through the grieving and the wishes if the covered individual.

The consumer should relate their wishes to their loved ones in written and oral form. Using normal insurance rates as a marker, life insurance for seniors is very affordable. Because life insurance rates by age, life insurance is much cheaper when bought at earlier ages. Life insurance over 50 is still in the very affordable range.

Life insurance for elderly can be made even cheaper by choosing a lower final death benefit. To avoid many questions about health, seniors can opt for a simplified issue insurance policy. Non paramedical policies may only require bodily fluid samples, but guaranteed issue policies may only have a three question questionnaire to qualify for acceptance.

Younger, healthier consumers can choose a paramedical designation for a life insurance policy that will designate lower premiums according to the health level of the consumer. Rapid Decision Senior Life insurance is an insurance product offered for consumers between the ages of fifty and eighty-five. Although a few companies require a few medical obstacles, most companies do not require a medical exam.

However, they do have a set questionnaire and some internet database inquiries. People age fifty through seventy can purchase ten thousand to one hundred and fifty thousand dollars of coverage in policies with ten, twenty, and thirty year term lengths. However, the coverage is partial until the beginning of the policy’s fourth year of maturation, but the death benefit is paid for any cause after year three until the end of the term period.

Cheap life insurance Policies

Term life insurance policies are simple, cheap life insurance policies. It only offers coverage that is necessary without frivolous add-ons. Therefore in some form, term life is accessible to the masses, and quite often it is the best choice for most people. Term life is aCheap life insurance Policies policy that is in effect for a limited time or term. This term can range for a year to even thirty years. Life insurance is only necessary when a person does not have enough money to have their families live comfortably at this point in life.

Often, families do amass the amount of money that makes simple life insurance policies very unnecessary. If this point in life is expected, the term a person chooses should coincide with that time in which the money is saved elsewhere. If death occurs prior to the term or the money is saved elsewhere, the term life policy will pay the beneficiaries a death pay out.

Of course, if the policy is not extended and death occurs after the term expires, there will be no payout. Term life insurance is often not accessible for people that past the age of eighty years. However, term life is rarely necessary in that age group.

Term is life is available in two designations. The first is annual renewable term life. This is a single year of coverage that is also renewable annually. Level premium term life insurance is purchased in the preferred length of the term life policy. Level premium term life insurance is often offered in five year increments and in up to twenty year policies, but there are some level premium term policies that have term lengths for longer periods of time than that.

Annual renewable term policies are commonly having the lowest initial premiums of any life insurance available. However, the premium rises as the person that is covered ages. If a person or family is just starting out or are expecting to have more income in the future for whatever reasons, starting with a low premium that gradually rises with age, may be a suitable form of insurance. Therefore, for this purpose, annual renewable term life insurance is the cheapest option.

In contrast, level premium term insurance allows the premium to be locked in for the entire term of the policy. This fixed rate protects the insured from future premium increases that could cause the insured to lose coverage at the most vulnerable ages. However, the premium is based on the amount of the death benefit payout, age and health. This means that premiums are cheaper for younger, healthier individuals.

A common breakdown of the price is that a five hundred thousand dollar, twenty year term policy with a fixed annual premium will cost a healthy forty year old approximately three hundred and fifty dollars a year.

If this person waits until fifty years of age, that same policy’s premiums will triple. By age sixty, that premium will cost ten times the amount the policy would have cost at forty. This means that the three hundred and fifty dollar annual premium for the forty year old healthy man would cost three thousand dollars annually if the same policy was purchased at sixty.

Policies that accrue a cash value have considerably higher premiums. This is because a portion of the premium goes toward the investment instrument contained in the policy. A policy that builds cash value may cost a healthy forty year old approximately three thousand dollars annually.

The best place to shop for the cheapest life insurance is to look online to find different types of life insurance. In addition, look at life insurance reviews because the local market in the consumer’s area may be only able to represent a single company. Because the agent is not able to shop around and find the cheap life insurance, the premiums are often higher from these insurance professionals. However, if the agent is independent, they can shop multiple companies to discern the best rate for their client.

In addition, these agents may be able to consider their client’s particular situation in determining the best coverage at the best price. This, by nature, may not be the cheapest premium, but it may be the best coverage. However, because the agents can represent hundreds of companies, the companies must compete for the client’s business.

This means that the independent agent will offer the lowest premium when covering their client with the appropriate amount of insurance. Buying too much coverage is a problem for consumers. Independent agents prevent this from happening, thereby, saving their clients even more money.

What are some of the top insurance companies?

The advice given to people who are seeking life insurance policies is to obtain policies from companies that are financially sound and that have high ratings from the leading ratings agencies, but this system is hard to navigate for people that are not informed in the technical matters of the situation. However, this includes most people.

top insurance companiesAnother discrepancy with simply using an insurance company’s ratings to determine if they are a suitable company for the consumer’s needs is that most insurance agencies and these ratings agencies have prior relationships that may cause the ratings garnered from the agencies appear to have conflicts of interest. These ratings agencies also suffered considerable credibility damage in the latest financial meltdown. They were active participants in overrating and concealing problems with companies that would later tank the global economy and specifically the American economy.

In addition, these companies suffered significant damage in the particular portfolios that are used to determine the financial stability of these companies. In some cases, the company’s damaged credibility was correctly assigned to the companies that played a part in the demise of the economy. However, if the companies recovered and returned to providing a quality insurance product, the damage that is contained in those portfolios will unfairly cast doubt on companies that have sufficiently recovered and are strong and viable again.

Although most states offer an alternative to the open market when purchasing insurance by offering state mandated minimum coverage policies that often only address end of life issues, people entering this market will find the coverage lacking significantly. These policies often only offer half of the current payout of life insurance policies in the open market.

However, the ratings systems are sound by certain parameters. Their basic credibility is upheld in that companies with the highest ratings have the least chance of facing insolvency. In comparison, companies with the worst ratings suffered a significantly higher rate of subsequently facing insolvency.

Of the companies with low ratings, thirty-three to a hundred percent went insolvent according to the severity of their low rating as compared to the higher rated companies. Still, because companies use their ratings as a draw for potential customers, some still question the validity in their ratings. This provides a profit motive for insurance companies to influence the ratings agencies.

This also allows moderately rated companies to appear much stronger financially than the companies actually are. This in turn, muddies the waters surrounding the consumer’s ability to decipher the system and determine the best company with the best value that also services their needs without over buying coverage. In addition, the top tier companies have lobbied the ratings agencies into instituting a system that uses several types of A ratings.

This means that a company that has influence can qualify in a myriad of ways for any of the A ratings. This is effective as a marketing tool because the public will only see the rating as an A rating when in fact, their particular A rating could be the last of at least four variations on the A rating.

The financial strength of the companies is, in some part, determined by the analysis of the company’s balance sheet, financial vitality, capital ratios to reserve ratios. The data is discerned from governmental reports, as well as analysis from outside sources. This determination of financial strength only accounts for a part of the ratings agencies system of assigning ratings.

The top agencies then approach the companies to assess if the companies are actively addressing any issues that were related to impaired ratings. The companies then have the opportunity to directly influence the ratings system.

However, in spite of this influence, because of newly formed credible reporting agencies and the public’s ability to search the Web for pertinent information about these companies, ten companies have continued strength financially and also have reviews for customers that are satisfied with the range of their services, the costs and their customer service involved. There are some consistencies that customers and reporting agencies like to see in the top rated companies.

They are twenty four hour customer service support and guaranteed death benefit protection. The top rated companies also all offered the full range of life insurance products like term, universal, variable and whole life policies, but because the top tier matrix is so convoluted by top tier company lobbying, it is appropriate to list the top ten in no particular order.

Top 10 Life Insurance Companies
1. Met Life
3. American General Life
4. John Hancock
5. Prudential
6. The Hartford
7. JCPenney Life Insurance
8. AIG
9. Bankers Life and Casualty
10. Allstate
Guaranteed issue life insurance and critical illness insurance

Americans are most often afflicted by three primary critical illnesses. These are stroke, heart disease and cancer. However, critical illness insurance may also protect individuals against the costs of bypass surgery, major organ transplants including kidneys, blindness, heart valve and aorta surgery. Today, there are approximately over a half million Americans with critical illness insurance, and the industry is approaching approximately twelve billion dollars in active critical illness policies.

Critical illness policies are available through a variety of outlets including online, financial critical illness insuranceprofessionals, personal insurance agents, employer plans and as rider policies provided to supplement some individual life insurance policies by their insurance provider. However, there is some critical illness insurance that is dedicated to particular illnesses. Cancer insurance is one of the most common types, and other non-specific critical insurance is still obtainable regardless if a cancer policy is already in effect.

Individuals purchase critical illness insurance because there is a good chance that many people will survive these illnesses, but may be too impaired to return to a normal life or health as a result of the disease and the related treatment. In addition, a family’s total financial resources can be expended fighting these diseases and entire careers can be lost forever. Being underinsured or without insurance can cost a family everything. Even those with adequate insurance will face high deductibles, prescription costs and other expenses that will come directly from the cash savings of individuals or families.

These expenses could total many hundreds of dollars monthly causing the family or individual considerable hardship. Creditors lend no credence to the hardships of their customers, therefore, mortgages and car payments will have to be paid, as well as utilities and food. One bill that is not often considered even in these circumstances is that the insurance will also have to continue to be paid. The consequences of losing coverage at this point could be detrimental to living.

Critical illness insurance will pay a single, tax free, cash payment in a lump sum. This is payable if the insured survives a diagnosis of a critical illness for the period of time specified by the policy. In addition, there are several polices that will pay additional increments if further stipulations are met. The cost of critical illness insurance is often based on the age and health of the insured when the policy is purchased.

It also takes into account gender and if the insured ingests nicotine either by smoking or other delivery devices. In the smaller increments of the policy values, like those in the seventy thousand dollars of coverage range, the health stipulations are fairly moderate, but they can become significantly more expensive the more complicated the case is.

However, coverage can be purchased in virtually any amount from five thousand to a million dollars, but most policies average form ten to fifty thousand dollars of coverage. Some rates are guaranteed on the critical illness policies for a standard time. After this set period, the insurer will often petition their state’s insurance regulatory division for the right to increase the rate.

The set guaranteed period is often from 3 to 5 years. However, they cannot apply for an increase on an individual policy holder. They must apply to raise the rates over an entire group of policies at once. They commonly cite that many more claims were initiated than were anticipated by the company.

Critical insurance is designated as a health policy for sickness and accident. Because of this, the premiums are not tax deductible for the individual purchaser. However, the benefits are free of taxes. Often, businesses purchase critical insurance for their most necessary employees, and sometimes for founders and owners.

When that business is the beneficiary of the policy, both the premiums and the paid benefits are tax deductible. Because no one can accurately predict these events under any circumstances, the weight of the premiums is carried by those that are in a less healthy state and older than by those that are healthy and young.

This is the industry’s method of providing coverage for those less healthy people. This means that height, age, weight and smoking are significant factors in determining the costs of the premiums. However, some employer based plans cover everyone in the company.

This type of guaranteed issue life insurance or guaranteed acceptance life insurance is called a guaranteed issue basis policy. This makes an employer based plan for individuals that are in a less than healthy state, smoke or are slightly older, but young individuals that are healthy may find better value searching the open market for this type of product.

No exam life insurance

No exam life insuranceNo-medical exam life insurance does not require a medical exam for acceptance. It allows a policy to be started with only a few initial queries. The policies are often only issued as term life policies. These policies typically provide a death benefit that is payable if the insured passes prior to the termination of the policy. The most often issued terms are in five, ten, twenty and thirty year policies.

The coverage amounts for life insurance without a medical exam are restricted to certain amounts, but the policies often range to half million dollar policies. This often varies greatly depending upon the company that the insurance is written under. These policies are beneficial to consumers in a myriad of ways. If a person needs life insurance immediately, these policies are offered with very little delay.

Often, many people simply do not want to have physical exams for many reasons. In this case no-exam policies provide coverage. In any case, it allows the family to not incur undue financial burdens due to the demise of the insured. However, as stated before, these policies do have a questionnaire that requires full completion before coverage is commenced.

These questions ask health related questions that must be answered truthfully. This is the only method of insuring that the death benefits will be paid to the beneficiaries of these particular types of policies. In addition, these policies commonly have two types of waiting periods, and it is incumbent upon the insured to understand which waiting period applies to them, but they are standard.

The first waiting period is termed the Suicide and Contestability Waiting Period. This means that the insurance company has up to two years to substantiate the claims that the insured made when applying for this type of no medical exam life insurance. In addition, the same two year period applies to investigating the cause of death after the claim is made by the beneficiary and denying the claim based on the investigations.

If a person takes their own life within this initial two year time frame, the company is well within its rights to deny the claim. This is to diminish any chances of purchasing policies to benefit families by the suicide of the insured. The next form of waiting period is the time allotted for guaranteed issued life insurance policies.

This waiting period is for the same initial two year term, but no benefits will be paid for any death that occurs before the termination of the two year period, but in this case, the premiums will be repaid with interest if the death does occur before the termination of the initial two year period. These policies are commonly reserved for people that were unable to be covered under most other term life policies.

It is important to remember that deceit in this arena can be discerned by intricate methods that are employed by the insurance companies. In addition, only surrender the information that is asked of the applicant. It is not necessary to divulge information that is not requested by the interviewer. However, honesty will insure the insurance provides for the circumstances that the insured intends.

If it is revealed to the company that the information is not accurate, the company can sever ties with the insured by denying any claims, canceling the policy and refunding the premiums. There are several conveniences connected with no medical exam life insurance. The policies are quick and easy to obtain and can be commonly approved within twenty-four hours.

However, the policies are sometimes considerably more expensive than policies that are not life insurance no exam. Life insurance no medical exam insurance may be five times as expensive as insurance that requires an exam. Often, when people receive a medical exam for insurance, various health problems are revealed that could severely shorten life. This process often allows the time to treat these problems effectively and before the problem causes death of severe impairment.

Not having the extensive exam that comes with insurance that requires an exam, may leave those problems to cause more significant problems and even death. These policies are very convenient and although they are more expensive than other forms of this type of insurance, they offer immediate coverage without incurring the expense of a medical exam.

This means that coverage can be accessible if a person needs insurance after receiving a clean bill of health. Medical insurance without an exam is also a favorable policy for people in rural areas or that need coverage after moves into areas before they have established a relationship with suitable doctor’s offices.

Burial Insurance is Important and Affordable

Burial InsuranceWhile none of us want to think about death, it is a natural part of the life cycle. The cost of a funeral can be very expensive. With burial insurance, those final expenses won’t be a burden on your loved ones. Such insurance is more affordable than most people realize especially for those looking for senior life insurance.

Burial Insurance is a type of policy that you can purchase to pay for the costs involved with a funeral and burial. You may hear it referred to by other names including final expense insurance and funeral insurance. The amount of the policy can vary depending on the type of policy and the value.

Final expense insurance is a hassle free way to get the benefits your family will need to pay for your funeral costs. This can include the casket and burial plot or the cremation. It can include the services, flowers, and other details. You can even pre-plan your funeral services and have that information along with your funeral insurance plan. This reduces the stress on your family during their time of mourning. Not just financially, but emotionally too.

Final Expense Costs
Price Estimates
Burial Insurance$150 a year for $50,000 worth of coverage
Cremation CostAverage cost is from $1,600 to $2,500
Funeral CostsAverage funeral cost is $7,000 and that price continues to increase

It also gives you peace of mind that your final expenses will be paid for you. At the same time, you can have the type of service you want without family worrying about the cost to make that happen for you. Not being able to provide a loved one with the best service can cause guilt and friction within a family.

You may be thinking that you won’t qualify, but you don’t have to worry about your health. When it comes to guaranteed life insurance for burial purposes, just about anyone can qualify. Find out what burial insurance for seniors will cost you. There are plans that allow you to pay monthly, quarterly, and even annually. Burial insurance cost is generally discounted if you pay annually versus the other options.

Burial insurance cost will depend on your age and the amount of payout that you would like to receive for your final expenses. Generally, the death benefit amount will range from $5,000 to $25,000. The higher the amount the more it is going to cost you in terms of premiums. The younger you are when you start the policy, the less you pay.

Take your time to explore the various burial insurance companies to see what they offer. You will find plenty of variations in terms of the cost of this type of guaranteed life insurance. You will also find that the coverage and the various stipulations also vary. Never sign up for a plan until you fully understand and agree to all of the terms.

Ask any questions that you may have. Don’t make assumptions about the coverage. Let your family know that you do have burial insurance so that they can file a claim when it is time to plan your funeral services. Always verify that the insurance provider is a legitimate company before you work with them. Sadly, there are some scams out there so you need to do your homework.

While everyone should be thinking about burial insurance, it is never too late to get a policy in place. You can contact some burial insurance companies for quotes. You aren’t under any obligation until you sign all of the paperwork. Gather information about burial insurance for seniors so you can make a well informed decision.

The Benefits of Final Expense Insurance

Before you say you can’t afford final expense insurance, you need to realize how important it is. Many people fail to realize just how many benefits come with final expenses insurance. There can be plenty of costs involved with funeral services. It all depends on what you would like to have as part of your final resting place.

You may wish to be cremated and that is far less expensive than a burial. With a burial, there is the cost of the plot and the headstone. However, there are also costs involved with digging up the grave site and then covering it back up. A vault or liner may need to go inside too, and that increases the costs.

If the services will take place at a church, then there is typically no cost for the use of the facility. However, if the services take place in a funeral home, there is the cost of the location being used. For church service, there will be costs from the funeral home too for the transporting of the body to and from the church. As you can see, there are plenty of additional costs that most people haven’t even thought about.

The payout from final expense life insurance can also be used to pay for outstanding household and medical bills of the deceased. You certainly don’t want to think about your family being stuck with those bills you left behind. Perhaps you have family out of town that can’t afford to come to your services. Some of the money from your final expense insurance could be used to pay for them to travel to and from your services.

It can be hard to think about what your family will do once you are gone. After all, you envision yourself as always being a huge part of what they do. Their world is going to be turned upside down, and they are emotionally going to be struggling. With final expense insurance in place, you have the peace of mind knowing that they won’t be dealing with financial struggles at the same time.

Final expense insurance companies offer a variety of types of plans. The goal should be for you to secure one that offers enough funding for your final expense costs to be successfully covered. One of those entities you may wish to consult with is Equita final expense coverage. They can help you to get the amount of coverage you need without it being a huge expense to fit into your budget.

Not all final expense insurance companies are the same. Take your time to see what each of them offers. Think about what benefits you want and the cost of the services you would like to receive. This will help you to identify the plan that is the best fit for your needs.
Final expense whole life insurance really is an important type of coverage to have.

It is a way to ensure your family can carry out your wishes for your funeral services and your burial. It ensures that there won’t be any financial complications that get in their way of carrying out those wishes in your honor. Final expense life insurance is important to have, and too many people still don’t have such coverage in place!

Burial Policy Benefits

There is no shortage of benefits that come with a burial policy. Of course what is offered Burial Policywill vary from one policy to the next. Don’t make the mistake of thinking they are all the same. That can get you into trouble. It can also result in you paying too much for too little coverage.

Burial life insurance can ensure that you have the funds in place to pay for your final expenses. There are plenty of costs that come with a funeral. This includes both a burial and a cremation. Such costs can quickly deplete the savings of a family or put them into serious debt. A lack of money can also cause them to have to reduce the quality of the funeral services they provide for a loved one.

You can seek burial plans for anyone in your family. It is a good idea to get such a plan in place at an early age. While you don’t want to think about dying when you are young, you will get the lowest rates if you start the policy in your 40s versus in your 60s. A burial insurance quote is going to ask for your age. It is a factor in determining your premiums for coverage.

Talk to your parents to find out if they have burial insurance in place. If not, get a quote for them. Burial insurance for parents can be a great gift that you provide them with. You can ask them about what type of funeral service they would like. You can pay the premium for them if you worry they can’t cover those costs. Then you will have the funds in place when they die to pay for those service arrangements.

Families without a burial policy in place can be hit very hard when someone dies. This is especially true if that individual was the primary income provider in the household. Burial plans can help to ensure there is adequate coverage in place to pay for a funeral service for the individual on the plan. There will be a huge difference in the financial obligation for a cremation versus a burial.

The coverage needs to be enough to pay for the type of service a person would like to have. Burial insurance quotes can help you to find out how much a commitment to such coverage is going to cost. You will be surprised to learn just how low the premiums often are. It isn’t going to be a huge dent for your household budget.

Consider the premiums you pay for burial plans to be an investment for the future. Losing a loved one is often the hardest thing we will ever experience in our lifetime. However, not feeling out of control financially due to that death can help you to get through it.Take some time to obtain various burial insurance quotes so that you can get a good idea of the cost. You also want to get a good idea of the coverage each of them offers you.

Comparing apples to apples is important when it comes to a burial insurance policy. It is a good idea to think about the coverage you want before you explore pricing. That way you can ensure the quote does include essentials and those extras you really want.

Funeral Advantage Insurance

Funeral planning doesn’t have to be stressful or confusing. Funeral Advantage Insurance offers plenty of help to get you on the right track. They have qualified professionals that will listen to your needs. They will help you to plan the coverage you need for burial or cremation final expenses.

Don’t be shy about contacting them for help. You may have lots of questions that you would like to get answers to. Once you know those details, you can decide what you would like to have for your own funeral services. You have time to think about it, but you don’t want to keep putting it off.

Some people get put off by the idea of planning a funeral. However, you need to think about the positive aspect of doing so. If you have ever had to plan a funeral for someone, you already know how difficult that can be. You can save your family from going through that process on their own when you are no longer with them.

Your funeral plan will play a vital role in determining the type of coverage you need. It will also help facilitate the dollar amount of coverage you need. Funeral Advantage isn’t going to try to get you to buy the most expensive policy. Instead, they offer a no pressure method for you to get the coverage you need. They also take your budget into consideration. They never want to see any client with a policy they can’t afford to keep up with.

Pre-need funeral insurance is practical and it is a great way to be responsible for your family. None of us have a magic wand or a crystal ball to tell us when our final day will be. With burial insurance, you will have the confidence that comes with knowing your final expenses aren’t going to be the responsibility of your family to pay for.

This is a wonderful way to ensure you get the funeral services you want too. Your family will find comfort in knowing they were able to fulfill your wishes for a memorable service. The cost of a funeral can be an unexpected expense that disrupts their financial capabilities. We have health insurance in the even that we get sick. You may or you may not. We all know that we will die one day, so planning for it is very important.

There is no cost for the funeral planning that is provided by Funeral Advantage Insurance. It is a tool that you can use to help you determine the coverage you need and the amount of coverage you should have in your policy. You may be surprised when you learn just how much it costs for even a basic funeral service to be completed.

Contact Funeral Advantage today and see what they offer regarding burial insurance. Policies are available for those up to 85 years of age. Parents can start policies for their children that can be carried on as they become adults by that individual. The younger a person is when they start pre need funeral insurance, the lower the premiums.

However, it is never too late to get a funeral plan in motion. As long as you are 85 or younger, you can qualify through Funeral Advantage. There is no health screening or medical history required. This is a simple and very effective way to pay for funeral services.

How much does Cremation Cost?

Cremation CostPerhaps you are interested in having your remains cremated after your death. This is a less expensive option than preparing the body for burial. It is also less expensive than the cost of a plot, casket, and headstone. Yet your decision to proceed with cremation shouldn’t be about the cost. If you have end of life insurance, then you will have coverage for the type of service that you want.

Cremation costs include the processing of the body. The body is placed into a high temperature furnace. The remains are collected and they are given to the family. Many funeral homes offer various sizes and styles of urns that can be purchased for the remains to be taken home in. If your wish is for your ashes to be scattered at a location, your family may be content to take them in a box from the funeral home.

If you are married, you should think about survivor-ship life insurance policies. This offers coverage for both individuals under the umbrella of one policy. Should one person die, there can be a payout for funeral cost. The death insurance policy will continue with the survivor listed. There will be a second payout for the funeral cost when that second covered individual dies.

An endowment policy is also an option to consider for the cost of cremation. This type of policy will pay out a set amount of money upon the death of a covered individual. This includes the cost of cremation and other expenses the individual left behind. It is a good idea to talk with a funeral home director.

Find out what options you have regarding cremation and the cost. They can assist you with pre-planning. This can help you to determine how much coverage you should have with your policy. You don’t want to estimate those costs on your own as you could be way off target. By pre-planning, your family won’t have to guess what you want. They will know you wish to be cremated and the type of service you would like to have provided in your honor.

Since cremation costs less than a burial, the amount of end of life insurance coverage you would need could be substantially less. This can mean significantly lower premiums for the individual on a monthly basis. It is certainly something to consider if you are interested in cremation or you have a very limited budget to work within.

Remember, death insurance will only be valid if the premiums stay current. It won’t do you any good if you default ton the coverage due to not being able to pay those premiums. When possible, pay for the coverage in advance. Try to pay for it annually when you get a bonus at work or you get an income tax return. By doing so, you aren’t cutting into your household budget but you still have the burial insurance that you really need.

The cost of cremation depends on the funeral home. It also depends on what type of services you would like to go along with it. This can be done at the funeral home or at a church. As mentioned, the cost of an urn may be part of this as well. Flowers and other items can also add into the overall cost. The average cost is from $1,600 to $2,500 when you factor in all of the cremation costs.

Funeral Arrangements

When a person passes away, it often falls on the shoulders of the family that remains to make funeral arrangements. They may be guessing about what to provide for the person they loved so much. They may be overwhelmed due to the planning of the funeral along with their own grief over the loss.

Sadly, for too many families, there are problems during the planning due to the funeral costs. They are blown away by how much it costs to provide a lovely service for their departed. They may have conflicting ideas about what someone would have wanted for their services. That can create internal family problems and hurt feelings that may never be resolved.

For example, I know a family with four children, and none of them talk to each other now. When their dad passed away, there was no insurance coverage for the final expenses. Two of the children stated they knew their dad would like to be buried and not cremated. Two of the kids opted for cremation due to the lower cost of it.

In the end, the dad was buried, and one of the kids took out a loan to pay for it. The agreement was that the other three siblings would pay him back. One of them did but the other two didn’t. One didn’t make a single payment and the other did for a few months and then stopped. The family has been divided ever since. This all could have been avoided if dad had a plan for his final expenses in place that the family could have used to pay for it and to follow his wishes.

A funeral service should be in honor of the deceased, a celebration of their life. When the family feels like they have to shortchange that person due to the cost, it creates feelings of guilt. With burial insurance in place, those funeral expenses can be covered. The family isn’t going to be paying out of pocket for the cost.

Sharing information with your loved ones about what you would like to have as part of your funeral services is very important. Such conversations may be tough to talk about, but they are necessary. We never know when our last day will occur, and there is so much that those who love us will have to figure out.

The average cost of a funeral is approximately $2,000 for a cremation and $7,000 for a burial. It may be a huge struggle for your family to come up with those funds. They may want to provide you with the best service possible, but they just don’t have the means to make it happen. With burial insurance in place, there will be money for them to allocate for all of those expenses. It is going to ensure that burden isn’t on their shoulders.

It is a good idea to go through final expense 101 with a professional funeral director. They can schedule a time to go through the basics with you. They can answer any questions you may have about costs, options, and insurance coverage. They can help you with planning your funeral arrangements.

They will keep those arrangements on file until you die. Any time between when you make Funeral Arrangementsthe arrangements and when you die, they can be modified. You can make additions or changes. Perhaps you decide after the death of someone else that you aren’t happy with the plans you created at one point. They don’t have to be set in stone, but you should make any changes you want as soon as you can so that they can be implemented.

This is a wonderful way to make sure your family doesn’t get torn apart due to funeral service planning or funeral costs. The average cost of a funeral continues to go up, so now is the perfect time to get a burial insurance policy started.

Funeral Costs and Planning

The average funeral cost is $7,000 and that price continues to increase. If you were to die tomorrow, would your family face a hardship to pay for your final expenses? The answer doesn’t have to be yes if you get funeral expense insurance. This should be a priority, not something you put on the back burner to check into one day.

Don’t let the average cost of funeral expenses prevent you from putting your wishes for particular services out there. Perhaps you want to keep it simple but maybe you want a lavish headstone or you want a plot that is close to other family members. Through funeral planning, you get to have a say in what will take place for your services.

You can sit down with a funeral home director and discuss what you would like to have offered. They can let you know the cost so that you can secure enough coverage through funeral expense insurance. It is important that your coverage is enough for all of your funeral related expenditures. At the same time, you need to make sure the premiums will fit easily into your budget.

In many instances, if you pre-plan your funeral and expenses with a funeral home, they will provide them at the current costs. This can be a tremendous savings as the cost of such expenses is only going to continue to increase as the years pass. Find out if this is an option you can lock into with your local funeral home.

It may seem uncomfortable to plan your funeral, but you will find them to be professional and helpful. You can take time to make decisions too when you plan in advance. If your family has to plan your services, they have a very small window of time to do so.

The cost of funeral services depends on location, the type of service, and many other factors. For example, the burial location and the type of headstone. It is important to make sure you have enough funds secured through a funeral insurance policy to enable your family to carry out your wishes for your final services.

There isn’t anything you can do about average funeral cost. However, you can make sure you have enough money through a funeral insurance policy to ensure your family doesn’t experience a financial hardship. You can also make sure your family doesn’t have to eliminate anything from what you wanted for your funeral services due to the cost.

Talk to your family about the average cost of funeral expenses. Let them know you are looking into getting a burial insurance policy. They should be aware of your funeral planning efforts so that there is no question about what you would like those final services to be like. There are families out there that become divided due to differences of opinion in regards to such services. When you share your thoughts about what you want, that can be prevented.

The cost of a funeral isn’t something that most people think about until they have to come up with money for one. Now that you are aware of the expense and the options you have, contact some providers of burial insurance so that you can feel good about offering that to your family. It is one final act of caring for them that will make a huge difference.