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Those of us near retirement age have seen thousands of ads for insurance products - term life policies, whole life, universal life, and on and on in a confusing parade. As young adults some of us bought one or more types of policies and have them still. Many did not, or through financial and health issues, lost our coverage.
Final Expense Insurance Is A Second Chance To Be PrudentIt is for those of us sensible enough to plan for our own passing, and who want to express our concern for the well-being of those we leave behind. Not limited to limited just to burial costs, final expense insurance gives those left behind freedom to deal with many types of expenses, medical bills, debt other than burial, or even just as a gift.
No Such Thing as "Average" Funerals Funeral service costs are poorly reported, vary widely across the country, and have numerous options. Just relying on an "average funeral price" of $8 - $10,000 is a poor way to plan. Funeral services in rural areas can be notably less than this amount while ceremonies in large cities could run you more than double!
Local Funeral Costs Can Easily be Discovered Question your friends, minister or insurance professionals in your area about actual costs. Be certain that you discuss the level of service appropriate for you and your circumstances. It isn't fun to think about our passing yet you must plan now, or your loved ones will be forced to deal with these difficult issues at an especially difficult time.
Easy Issue Insurance By Design Most of us in reasonable health between 50 and 80 can obtain final expense insurance. Insurance companies make this possible by limiting maximum amount of coverage to $50,000, and by separating the policy types into two classes - guaranteed issue and simplified issue.
No Medical Exam Required Nobody is turned down for guaranteed issue policies, and, everyone between 50 and 80 years of age will qualify. No medical exam will be required when you apply for this type of policy. Usually guaranteed issue policies have a waiting period of 2 - 3 years before death benefits can be paid out.
Guaranteed Issue Policies Have Drawbacks Rates are higher for guaranteed issue policies because the insuror doesn't know the health risks of the applicant. Another negative is the 2- 3 year waiting period required. Should the insured person pass away during the waiting period death benefits will not be payable. The premiums already paid in will then be refunded and interest on them is sometimes paid as well. Simply put, if you don't want to answer any health questions insurers are taking a bigger risk - they protect themselves will higher rates and a delay of benefits.
Reasonable Health Yields Lower Rates Reasonably healthy older people should try simplified issue final expense plans. They do ask some basic health questions but if you qualify premiums are less than guaranteed issue plans and the benefits are available immediately - there's no waiting period. Choose a simplified issue final expense insurance policy if you possibly can. You'll save money, be covered immediately and give your loved ones freedom and flexibility during a difficult time.
Final Expense Insurance Is A Second Chance To Be PrudentIt is for those of us sensible enough to plan for our own passing, and who want to express our concern for the well-being of those we leave behind. Not limited to limited just to burial costs, final expense insurance gives those left behind freedom to deal with many types of expenses, medical bills, debt other than burial, or even just as a gift.
No Such Thing as "Average" Funerals Funeral service costs are poorly reported, vary widely across the country, and have numerous options. Just relying on an "average funeral price" of $8 - $10,000 is a poor way to plan. Funeral services in rural areas can be notably less than this amount while ceremonies in large cities could run you more than double!
Local Funeral Costs Can Easily be Discovered Question your friends, minister or insurance professionals in your area about actual costs. Be certain that you discuss the level of service appropriate for you and your circumstances. It isn't fun to think about our passing yet you must plan now, or your loved ones will be forced to deal with these difficult issues at an especially difficult time.
Easy Issue Insurance By Design Most of us in reasonable health between 50 and 80 can obtain final expense insurance. Insurance companies make this possible by limiting maximum amount of coverage to $50,000, and by separating the policy types into two classes - guaranteed issue and simplified issue.
No Medical Exam Required Nobody is turned down for guaranteed issue policies, and, everyone between 50 and 80 years of age will qualify. No medical exam will be required when you apply for this type of policy. Usually guaranteed issue policies have a waiting period of 2 - 3 years before death benefits can be paid out.
Guaranteed Issue Policies Have Drawbacks Rates are higher for guaranteed issue policies because the insuror doesn't know the health risks of the applicant. Another negative is the 2- 3 year waiting period required. Should the insured person pass away during the waiting period death benefits will not be payable. The premiums already paid in will then be refunded and interest on them is sometimes paid as well. Simply put, if you don't want to answer any health questions insurers are taking a bigger risk - they protect themselves will higher rates and a delay of benefits.
Reasonable Health Yields Lower Rates Reasonably healthy older people should try simplified issue final expense plans. They do ask some basic health questions but if you qualify premiums are less than guaranteed issue plans and the benefits are available immediately - there's no waiting period. Choose a simplified issue final expense insurance policy if you possibly can. You'll save money, be covered immediately and give your loved ones freedom and flexibility during a difficult time.
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