Senior Final Expense Insurance is a Super
Investment
Although you may not have any dependents, a senior final expense program can help you to begin formulating a
plan that will protect your assets and finance your final expenses.
Multiple types of affordable plans and options from which you can choose are available.
And it is easy to qualify for senior life insurance.
There is no medical exam; all you have to do is answer some health questions.
It is important to seek out a final expense policy that will not be cancelled just because you have grown
older.
For example, your top priority should be purchasing an amount of senior final expense insurance that will
provide adequate coverage for burial and funeral costs.
According to AARP, YOUR final expenses are the third most expensive purchases your heirs must make.
Funeral costs average over $10,000 (a cheap funeral) and Social Security provides only $225.
Naturally, most people don’t want to put that kind of burden on their loved ones.
Also, you must consider the likelihood of incurring medical bills or other outstanding debts that will need to
be immediately addressed.
This is important because even if you leave your family a large nest egg, they may have to wait a long time to
receive any money from your estate.
Meanwhile your loved ones could be responsible for paying your outstanding debts and other expenses.
Probate is a process that freezes your assets and can take a long time, anywhere from 6-18 months. After
probate, any further debts that are still outstanding will be either taken from your estate or inherited by your
loved ones.
As a result, they may have to borrow the money or take the necessary funds from their savings.
In contrast, there are no restrictions on how your loved ones may use the proceeds from your final expense
plans.
The money can be used for any expense, and your loved ones are usually given this tax free money within 2
weeks.
Therefore, your final expenses will not rest on your family.
Furthermore, if you have a spouse, consider that he or she will only receive a portion of your social security
after your death.
Since that may affect his or her standard of living, the option of purchasing a senior final expense insurance
may offer protection against the stress of having to move in with a child.
Or you may wish to leave a legacy gift by making your favorite charity the beneficiary of your senior final
expense insurance.
Seniors...You need to be informed about your senior final expense and the different options.
Senior final expense insurance is more than just a way to pay for a funeral.
It is a ticket to peace of mind.
Senior Final Expense
Program
1http://www.aarp.org/money/wise_consumer/smartshopping/funerals.html
2http://www.aarp.org/money/wise_consumer/smartshopping/funerals.html
3http://www.cremation.com/death-benefits.php
4http://www.lectlaw.com/filesh/qfl08.htm
5http://www.lectlaw.com/filesh/qfl08.htm
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