As people start to hit the ripe old age of between 40 and 50, they can't help but let the thought of death creep into their mind every now and again. Not only are they worried about what is going to happen to them on the other side, but they also fret about the financial strain and burden they are going to pass onto their loved ones. While there may not be any answers to what awaits them in the afterlife, there is something older adults can do to alleviate some of the pressures their family will face after their death.
Cover Funeral Costs With Burial Insurance
It is never too early to start thinking about burial insurance. After all, it is anyone's guess as to when a person’s time will come. Policies are typically available to persons 45 to 85. However, sometimes, individuals can find insurers that will give them coverage after the age of 85. It can be purchased for small amounts of let's say $2,000 or $5,000, but more significant sums are available from $25,000 to $100,000 too.
Funeral costs today are nothing to shake a stick at as they range between $7,000 and $10,000. Cremation is a somewhat cheaper alternative, but it has a rather high price tag too. For instance, a direct cremation costs about $2,500 while a cremation with a viewing and ceremony runs approximately $5,000. Many, many people in this world don't have this kind of money just hanging out in the bank. So, when an unexpected death occurs, they often have to take out loans to cover the expenses. Burial insurance can eliminate this problem.
Burial Insurance Information
These policies can be bought online or by phone, and there is no medical exam required at all, unlike some other types of insurance. The applicant will need to answer some questions about their health, smoking, and age though. Plus, the insurer will want to know if the person has any serious medical conditions. Acceptance is typically guaranteed, and coverage goes into effect immediately. Although, in some cases, the company will require a minimum 2-year premium pay period before collection is possible.
Another big draw of burial insurance is that the premiums never change. In other words, the policyholder doesn't have to worry about paying $15.00 one month and $175.00 the next. This aspect is huge as many people live on fixed incomes and can barely afford coverage in the first place. Some of the costs covered by this type of policy include but are not limited to...
Be Sure To Do Your Research
All of the items mentioned here are good reasons as to why burial insurance may be the perfect fit for you. There is something to keep in mind though. Some policies only cover a person up to 100 years of age. Thus, if you surpass this age, all of the payments you made will have been for naught. So, do your homework and be sure to get the right burial insurance policy to meet your needs.
Contact one of our knowledgeable representatives to get your burial insurance today.