	Article Directory		Article Submission Service		Article Marketing Blog		Publishers		Member Log In

Article Directory :: Home & Family Articles

Burial Insurance Policy For Seniors - A Choice for Elderly Parents

By Marilyn Katz

Republish: EasyPublish™
Published: 18Oct2009
Word count: 522
Viewed: 323 time(s)

Get Free Content For Your Site

Many older people do not think they need to buy a burial insurance pollicy (also called final expense) because they have savings they can rely on. But the few months before an older person passes away can be very expensive. Medical bills, nursing homes, and travel of relatives can really eat into savings fast. Then it could be a big shock for the family members, who are already having a sad time, to find out how much they need to pay for a funeral.

In addition, US funerals are getting more expensive every year. They may average six to eight thousand dollars, but in some areas, they cost much more. And these are just today's future. If a person survives for another 10 or 20 years, we can only expect funerals to cost twice as much!

In addition, other costs tend to be associaed with the end of life. People must take time off of work, either before or after the death. Some loved ones must travel from distant towns. And some guests may have to be fed our housed when they come.

In addition, the person who passed away may have left some debts. Medical bills or credit card debts must be settled somehow. It is nice to know that a cash payment is coming promptly!

What is a burial policy? Sometimes these are also called final expense or seniors life insurance.

It is simply a small face value whole life policy that has been designed to be easy for seniors to apply for. Face values usually range from $2,500 - $25,000. They are meant to pay for funerals, handle other expenses, and pay off debts. Any remaining cash can be used by the named beneficiaries in any way they see fit.

Some plans have a guaranteed approval which means that they do not even ask health questions. Others have a simplified application period, which means that most people in reasonable health can qualify for them. It is important for you to understand this so you can choose the one that is best for you. There are advanages and disadvantages to each type.

There are age limits to policies, and you will have to check with different insurers. But I have seen companies that will accept some applicants up to age 85. These type of senior burial policies are usually intended for people over 50, though of course younger people can find whole life insurance policies.

Who buys final expense life insurance? Sometimes seniors purchase a policy for themselves. They want to make sure that their kids can pay for a funeral without having to worry about coming up with cash. Those people feel as if the premiums are an affordable way to plan for the future.

Other times, the children of a senior citizen will purchase the policy for their parents. The older person is still the insured person, while the kids are named as the beneficiaries and offer to pay the premiums.

It is hard to talk abou our loved ones passing away, and nobody likes to think about it. But many seniors are actually happy to have this way to plan for the future.

Let us help you compare final expense rates so you can find the best deal. Our free online quote forms can help you find burial policies for seniors.

EasyPublish™ this article - publishers click here