Final Expense Insurance for Seniors

3 Reasons Why Final Expense Insurance Is Great for Seniors

Thinking about death can feel lonely, scary, and uncomfortable. But in reality, you’re not alone. Death is a part of life, and we should prepare ourselves for the inevitable. Families may buy life insurance to help them prepare and provide financial security if something unexpected were to happen. Traditional life insurance might be a better fit for younger families than seniors. Instead, seniors and their loved ones should consider buying a final expense policy. Here are three reasons why:    

1.Final Expense Insurance Is Easy to Get

As you age, life insurance policies often become harder to get. Older folks are (typically) more prone to medical problems that may create obstacles to coverage. Generally, you’ll raise red flags with a carrier if you have: 

  • Obesity 
  • Diabetes
  • Depression
  • Heart disease
  • High cholesterol   
  • High blood pressure
  • Another chronic condition

Other issues, like cancer or having multiple health problems can cause high rates or an outright denial.  

BUT a final expense insurance policy is easier to get. You don’t have to take a medical exam. There’s generally a short questionnaire — that’s it. You’re guaranteed approval up to age 85.

Related Post: How Does Final Expense Insurance Work?

2.Final Expense Insurance Is Affordable 

When people take out traditional life insurance policies, they often do it for way more than their annual salary. Traditional life insurance can help your family make mortgage and car payments, and handle other finances. It’s more aimed at younger individuals that have dependent children and more important financial obligations.

But final expense insurance is affordable for most seniors — because the policies are meant to only pay for funeral and other end-of-life costs. We offer final expense policies up to $30,000. The exact monthly rates will depend on your gender, age, and health.   

Note: The rates generally increase as you get older. Many seniors get coverage as early as they can to secure a lower rate. To give you a general idea of the cost, a healthy 50 year-old male might pay around $30/month for a $10,000 policy.

3.Final Expense Insurance Gives Your Family Peace of Mind

Death is unavoidable, but it’s certainly a sad time. And funerals are costly. For remaining family members, the added cost of a funeral can be overwhelming — in the midst of coping with grief. Funerals cost between $7,000 and $10,000, on average. What will your family do if they’re unprepared? 

Final expense insurance is a practical way for seniors to give their families peace of mind. Since the funeral cost will be covered, the family has one less expense to worry about. They can instead focus their efforts on the burial service, making sure they carry out the wishes of their loved one. Give them the burial they deserve. Plus, the family gets time to process the loss and won’t have to stress about the logistics of making payments. 

Related Post: 8 Reasons to Buy Final Expense Insurance

How to Get a Good Rate

You can spend countless hours shopping around and checking company reviews. OR, you can work with an independent agency — like Final Expense Direct — that combines industry experience AND excellent customer service. We work with the top final expense carriers to ensure that you get the best, most affordable coverage for your needs. Call 1-877-674-0236 or request a quote online! 

COVID-19 RESPONSE

Final Expense Direct’s utmost concern is the safety of our clients, their families, and our employees and agents. Our hearts, thoughts, and prayers go out to all that the Coronavirus outbreak has touched and those whose lives have been disrupted. While 98% of our workforce is working remotely, we are here if you need assistance. If you are a client, please contact Customer Support at 800-538-3610, Ext 2, with any questions in regards to your policy. You may also contact us via email at customerservice@finalexpensedirect.com. We will continue to monitor this situation and keep you updated.