Life Insurance for Seniors over 70: Final Expenses covered

An average funeral costs $10,000-$20,000 in the U.S. today. So that these costs are taken care of and to avoid burdening family and loved ones with these expenses, many seniors choose to secure senior life insurance that covers these costs.

Another way to handle these expenses is to allocate part of an existing policy may have to distribute the funds necessary for these expenses. Other possible options include having a cash value or permanent policy. These kinds of policies can be secured when you retire and be dedicated to this specific purpose.

Many seniors with insufficient assets or life insurance already in place often choose to make sure these costs are covered by applying for a universal or whole life policy. These policies are popular with seniors and there are many insurance companies that offer them at discounted rates for seniors. Many even have provisions that have few or even no medical examination requirements as conditions for approval.

Getting life insurance for seniors over 70, does not need to become very stressful to achieve the proper coverage results. The person should take a moment to make themselves a check list of what they are wanting the policy to take care of.

When it comes to selecting a life insurance for seniors over 70 policy it can at times becoming overwhelming. However, if the person takes their time to perform their own advance research it can help them to make an educated decision on the proper coverage needed.

Need Help? Call 813-964-7100 and Mintco Financial Advisors will answer your questions about a Senior Life Insurance policy.  Also Mintco Financial will shop for you the best rate.

We do insure up to 89 years old depending in which State you live.

If you prefer visit www.MintcoFinancial.com

Funeral Insurance - Final Expenses Insurance- Life Insurance for Seniors

 

Funeral Planning With Life Insurance

Get a free quote mintcofinancial.com/life-insurance-quote.asp

I know that it sounds odd to use the word funeral and life in the same phrase, as in funeral life insurance! This product is meant to cover the expense of funerals and burials, which can cost thousands of dollars these days.  It is, actually, a smaller whole life policy that has been designed for this reason, and also designed as an affordable way to plan for funerals and other end-of-life expenses.

The face values vary, but are usually from a few thousand dollars to a few tens of thousands of dollars. It is hard to get exact figures for the average costs of funerals today, but estimates run from $8,000 – $10,000. Besides, other expenses tend to crop up when a loved one passes away. People take time off of work, they may have to travel, guests have to be fed. So it is always better, as in all things, to have more money than you need than less money than you need.


Sometimes you may also see this product called some other names like burial policies, final expense insurance, or senior life insurance. These different titles all, pretty much, refer to the same product. 

Advantages of Funeral Life Insurance

• The death benefit is cash for the beneficiary to use as they see fit.
• Many funeral homes will accept an assignment of the death benefit to pay for funeral expenses.
• The family is not locked into one funeral home or company.
• With pre-paid funeral plans, you may actually be paying interest on a loan, so even though you have small monthly payments to make, you may pay more in the long run.
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• Sometimes a person will purchase a policy for themselves. An average purchase is probably middle aged and thinking about retirement or estate planning. Sometimes the family will purchase the plan for a loved one. They do this to make sure they can take care of their family member when the time comes.
  
  

  Find Affordable Senior Life Insurance Policies

  Rates will vary by age, general health, and where you live.  Of course, rates will also vary by insurer, and so will the types of plans you can buy!  
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• If you have questions or need to understand better Senior Life Insurance please contact us at:
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  mintcofinancial.com/life-insurance-quote.asp
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• Or call us at 1-888-Mintco-8
• Or email us at anecamara@mintcofinancial.com