As you leave middle age behind, buying insurance to finance your funeral may seem like a no-brainer - death is inevitable, after all, and somebody will have to pay.
Today, the average funeral costs $6,590, according to the National Funeral Directors Association. That's just for basics and doesn't include costs for the cemetery, grave marker and flowers.
You can't buy an insurance policy that will cover every conceivable cost related to your death. The terms "funeral insurance" and "burial insurance" generally refer to small life insurance policies marketed to people who want to leave a little money behind for their families to cover final expenses.
These whole-life policies provide coverage for the rest of your life and have cash value. The cash account builds over time; you can withdraw or borrow against it, although the amount - plus interest - will be subtracted from the death benefit if you don't repay it. Because these policies are small, the cash value is minimal.
Getting life insurance for people over 80 is easier these days. Insurance companies have already accepted that the human life expectancy has increased, and have begun granting coverage for seniors over sixty years of age.
So if you are a senior with an insurance policy, but you think that the proceeds of this insurance will not be enough to cover the needs of your family, securing an additional policy might be helpful.
Or if you are just thinling to get a small policy to cover your final expenses, please contact us. Mintco Financial Team is a firm of independent financial advisors and will shop the best quote for you.
A good majority of seniors are in excellent physical condition, but it's expected that these individuals will have health problems. Insurance companies can offer affordable life plans for seniors over 80 who have medical issues. The rate of the premium would depend on their particular health condition: some providers might require you to undergo a medical evaluation to have a better understanding of your health.
Call us at 813-964-7100 and we will discuss your health condition beforehand. You will then be able to decide on the coverage that is most suitable for your needs.
Final expense insurance can save your loved ones a lot of money and stress at the time of your death. With the high cost of funerals, the last thing anyone wants to think about after they lose a loved one is paying for and planning final arrangements. Final expense insurance can help ease that burden by paying for many of the costs associated with funerals.
How Much You Should Buy?
It’s a good idea to discuss with your loved ones, or whoever will be your policy’s beneficiary, your wishes for the type of funeral you would like to have.
In general, funeral costs can range from $1,000 to $10,000 or more.
No one likes to think about what will happen after they are gone, but don’t forget about the people who will be left behind and will need to take care of your final arrangements.
If you don’t already have a regular life insurance policy, buying a final expense insurance policy is a good alternative that will help your loved ones pay for your funeral costs.
To get started, compare your options between final expense insurance and life insurance, decide if you’d like to submit to a medical exam or not and determine how much final expense insurance you should buy.
Call Mintco Financial Independent Advisors at 813-964-7100
Life insurance for seniors over 70 is now a possibility for many elderly individuals living in the United States. If you’re old and gray and have not saved much during your younger years, this type of senior insurance coverage is very useful.
Don’t think that this is impossible? It’s very possible and if truth be told, many companies are specializing in the senior life insurance niche nowadays, unlike before when it was next to impossible to find an insurance carrier who would sell you a policy once you’re over the age of 70.
Buying life insurance for seniors over 70 becomes important as your age and health deteriorates and the inevitability of death becomes a grim reality. Most people buy senior life insurance to ensure that their loved ones don’t have to pay money out of their own pockets for your funeral expenses.
Many baby boomers and seniors who are 70 and older can get affordable life insurance coverage. Of course, your health history impacts the bottom line.
If you are in good health, lead an active lifestyle and don’t smoke, you have a better chance of getting affordable life insurance than if not.
What makes the most difference in getting affordable insurance is using an independent agent, who can help you find the right company to get the most best pricing possible. The independent agent will know which company(s) will underwrite your application most favorably and therefore give you the best rating/pricing. They should have an in house underwriter to be of assistance in getting you the best rating as well.
Just because you are 70 or older doesn’t mean you can’t get affordable life insurance. It is especially important to go to the right carrier when you are applying for life insurance and you are 70 or older.
We recommend you to give us a call at 813-964-7100 or visit our website at http://www.mintcofinancial.com/quotes/final-expense-life-insurance-quote/, we are an independent agents who have experience with Baby Boomers and seniors. We can help you decide what type(s) of life insurance you need as well as help you get the best value for your money.
Mintco Financial Team is an independent financial advisory company. We work for you!
Joe Simpson secretly took out a $4.5 million life insurance policy in daughter Jessica’s name with himself listed as the sole beneficiary, a source tells RadarOnline.com exclusively.
The policy was drafted around 8 years ago, the source says, and The Dukes Of Hazzard star and her mom Tina only found out about its existence last week.
Tina’s attorneys at Dunnam & Dunnam were made aware of the policy’s existence in a meeting with the Simpsons’ business manager, David Levin, and the source says that both Jessica and Tina are “furious” that Joe had done such a thing without the knowledge of either of them.
“Tina found out about yet another one of Joe’s secrets and couldn’t believe what she was hearing,” the source, who is close to the Simpson family, tells RadarOnline.com.
“It came out in a meeting with David and her attorneys last week that Joe set up a life insurance policy for Jessica 8 years ago that made him the sole beneficiary.
“It was pointed out to Tina that as Jessica’s manager Joe wasn’t doing anything underhanded by taking out a policy to protect his biggest income source, but she was absolutely furious that Joe did it without consulting her or Jessica.
So here it is the question:
Can I buy life insurance for someone else? The simple answer is, “yes”. You are allowed to pay the premiums and collect the benefits on a life insurance policy that insures a life that is not your own. For example, many people have life insurance on their children. Another example is that companies sometimes buy life insurance on their key employees so that they can recover from the negative financial effect that losing that employee might cause.
There are two things that you need to consider. One, you are going to need to have the consent and participation of the person whose life is being insured. Two, you are going to need to provide a reason to the insurance company that you will be affected financially if the insured dies. The only exception to this is life insurance on children. Usually the parent of a minor can purchase life insurance on the child without any additional reasons. If you have nothing to lose from the death of the person, then you don’t really have an “insurable interest” and in such cases would only gain financially from the death of the insured. Just being a relative does not necessarily create an insurable interest. You will have to prove that you are somehow financially affected by the death of that particular relative.
Speak to a life insurance specialist at Mintco Financial to find out more on buying life insurance on someone else.
When the majority of people reach the age of 80 without having getting a lifestyle insurance coverage policy, they think that they have waited as well extended and can’t get an insurance company willing to sell them a policy. Luckily, this really is not the case. There’s life insurance for seniors more than 80 and up to 89.
In fact, one can find extra options than a number of folks understand. The marketplace is full of firms which have packages for all people no matter what their circumstance is. As a matter of truth, you can find some organisations that specialize in selling insurance to those over 80.
Fortunately, many companies are starting to offer senior life insurance. Senior life insurance serves as a more affordable option for the elderly, and offers the benefits needed to protect one’s family in the case of one’s unfortunate death. With many policies for senior life insurance no exam is needed to purchase a plan. As such, one does not need to worry about pre-existing medical conditions impacting their senior life insurance premiums.
Life insurance for seniors has grown increasingly popular over the past decade for a very good reason. Whether you are looking to leave your children and grandchildren with one last gift, or simply do not want them to ever have to worry about your final expenses, senior life insurance will help keep you and your loved ones covered.
Mintco Financial is a leading company in Senior Life Insurance and has helped many seniors over 80 get Life Insurance.
Call us now at 813-964-7100 or fill the quote form and we will contact you!
If you have some pre-existing health conditions, and most seniors do, then you can still get affordable rates for elderly life insurance at this age. Minor health concerns like high blood pressure, high cholesterol, and even type 2 diabetes that is controlled with medication, can usually qualify for standard rates. If you have some more serious health problems such as heart disease, cancer, or a history of stroke, then you could still qualify for a guaranteed issue life insurancepolicy. This type of policy has graded benefits, which means that the death benefit is not fully payable until after year 2, but it can still provide peace of mind if you've been turned down before.
If you have questions please call us at 813-964-7100 or visit our website atwww.MintcoFinancial.com
