Buying a Burial Insurance Policy at ages 50-85

Written by Advanced Mutual Group

Introduction:

Medicare aged 65 and over

A senior couple on holiday at the seaside.

Buying a Burial insurance policy at ages 50-85. Burial insurance is a well known special type of life insurance policy that would be helpful when burying your loved ones. People who buy this type of policy believe that they are not a burden to their loved ones in the last stage of their lives.

Burial insurance policy which is also known as senior’s funeral insurance is usually made for paying end of life expenses to your loved ones. Of course, Burial insurance has adopted many names like Final expense life insurance, senior’s burial insurance, and burial insurance for senior’s but the main purpose is to pay tribute to your loved ones in the last phase of life.

Next, it is a difficult task for you to have a company which suits you best. So, the best solution is not to direct your insurance policy from a company. If you want to talk to them or make a deal with them then you should seek the help of an agent. Because an agent knows all terms and conditions of all companies of insurance policy through which you may able to find which will pay you the best cost.

There are certain questions related to burial insurance, so we would like to put these questions on the front page instead of placing them at the end. You may able to focusing these points.

Why Burial Insurance

Basically when you leave this world life insurance policy deducts the tax- free check and hands it over to your loved ones. You will get money from that company to pay for your final expenses. Moreover, there are no restrictions on where you use the money. We would like to give you an example of America where the funeral home is given money to be used where they want to meet their expenditures. Is burial insurance worth it?

What is covered by Burial insurance?

Cremation or funeral expenses are covered by Burial insurance to meet the expenditures of your funeral. Burial insurance provides benefit through policy to your beneficiary who is allowed to you use the many in any case.

Average Burial Insurance costs

Depending on your age, gender, the health you may be charged higher or lower. The average burial insurance cost is usually 45 dollars per month.

Are prepaid funerals worth it?

We would suggest you not to invest if you want simple funeral services such as direct cremation. Maybe there will no decrease in the cost of funerals. So, you may cost more than that service costs itself.

There are certain plans about Burial insurance which depends upon answers given by you to life insurance policy related to health questions.

Preferred plan

Some companies use this plan as a benefit plan. It is the plan where you may say I wouldn’t answer your questions about health. The best way for you is that If you are selected for this plan you will get 100% protection from day one but the lower price is offered by the company.

Graded plan which gives benefit:

Graded plan which gives benefit more than the preferred plan is also known as a medium option. You will be given this plan as long as you say yes to the questions asked about “graded” health. During the first two years of the policy, the grade plan would give you half of the package. If someone dies during the first- year one will be given 30% of the death benefit. But it will be given more almost 70% if someone dies during the second- year. We may say that each company has its exact percentage, as it varies from company to company. 25-40% of pays are given during one year and 50-70% of pays are given during the second- year.

The third plan is known as a modified plan:

The highest risk plan which is offered by a company is called a modified plan. This plan is given to you when you are asked about health questions and the company finds any issue related to your health. Premium paid plus interest is refundable. If you may suffer from death during the first two years of the policy.

But we will suggest you not go with a modified plan. If you are willing to adopt this plan we will ask you to go with guaranteed issue policy.

Criteria to get a policy:Doctors who care about their patients

There are some factors that will make you able to get a policy

Residence:

You don’t need to get the policy in every state. So we will recommend you to see your policy criteria either it covers your state where you have a residence or not.

Age:

Age is considered the main factor which is seen by all companies to get a policy. 50-85 is usually age to get a policy easily. If you lie between this age limit burial insurance company will give you relaxation.

Health:

Most plans don’t ask about your health but there is some product where health is counted necessary.

Difference Between:

Burial insurance, Final expense insurance, Funeral insurance

We made research on these terms and came to know there is no certain difference between all these three terms. We distinguished that all these terms are labeled interchangeably.

Getting a life insurance policy for grandparents:

Some companies that offer a term life insurance policy as if it were the normal burial insurance but you will find out after a while that they have cheated you. You will be completely unaware that one day the policy you are watching will end. The value of these life plans continues to rise every five years.

Final expense Life insurance is unique:

Final expense life insurance policy is unique as compared to other kinds of life insurance policies. Designs are made by insurance companies in such a way that they will be able to buy these plans. Issues related to health problems of seniors are also checked out and life insurance is unique as it is concerned with senior health problems and ensure that seniors can get much coverage as they want.

Underwriting:

Underwriting is considered a process in which financial risk for a fee is taken by an individual or by the institution. For a specified premium, the total amount of risk is divided into each risk-taker and the name of a risk-taker is mentioned. This is a summary of underwriting.

Funeral bills will be given to their family members, so it will cause relaxing seniors with high-risk conditions to qualify for policies offered by different companies, that’s why we call underwriting amazing.

Health issues and expense policy:

You can be protected if you are affected by the following health issues, but you should keep in mind that the list which is mentioned below is changed with your age and state.

    • Diabetic Neuropathy

    • Insulin usage

    • Heart attack Over 1 year ago

    • Diabetic Retinopathy

    • Strokes

    • Cancer with period limits

    • Depression

    • Water pills

    • Blindness

    • Anxiety

    • Hepatitis A, B, C 

    • Epilepsy

    • Home Health care

    • Morbid Obesity

    • Non-Cancerous tumors

    • Systematic lupus SLE

    • Fibromyalgia

    • Schizophrenia

      low cost whole life

 

  • Atrial Fibrillation

  • Bipolar depression

  • Blood clots

  • Blood Thinners

  • Asthma

  • Chronic Bronchitis

  • Chronic Kidney disease

  • Parkinson’s Disease

  • Sleep Apnea

There are many health issues that can be treated. If you don’t have any of the diseases listed, then you may be given a place.

No Health Question Policies:

Some Health conditions are so critical that the company can’t return the policy. In a situation where there is a high risk, only guaranteed issue life policy is permissible. Without guaranteed issue life people having health problems are unable to get coverage at all.

The main point in a guaranteed issue plan is that no question is asked about health and medical underwriting is not asked at all. Acceptance is guaranteed if you keep prepare yourselves for a legal contract.

Drawbacks to these no Health questions:

No health question plans bring disadvantages which are often seen.

  • 24-month waiting period

  • Lack of all premium plus interest maybe 10%

  • Relative to policies the cost is high

Guaranteed issue final expense policy will be the only option for you, If you are facing listed health issues

  • Dialysis

  • AIDS

  • Dementia

  • Hospice care

  • Organ transplantation

  • Having a Nursing facility.

Apply for Coverage:

You can apply for coverage as it is too easy as hiring someone to write an article. We will give a short preview

  • NO physical or medical exam

  • You will answer some basic questions related to health

  • Prescription history check

  • No printout related to pharmacist

  • Within a few seconds, analysis your medications

  • Within, 20 minutes you will be eligible for coverage

Conclusion:

By reading this article, now you are able to analyze how to buy the burial insurance at the age of 50 and what is it’s worth. It can save your loved ones from the burden of your afterlife expense and it is easy to get a burial insurance policy if you choose the right insurance policy provider.  

Hi, this is Mitch Winstead with Advanced Mutual Group. I have been selling life insurance since 2000.  We have the best rates with top-rated carriers. If you have any questions about this article or would like a quote with no obligations, please call our office today toll- free  1-866-598-8170 or email us at this link mitch@allstarseniorbenefits.comcheapest burial insurance

Our website is at this link http://www.advancedmutualgroup.com

About Advanced Mutual Group
About Advanced Mutual Group

We shop the life insurance market and do all the hard work for individuals across the nation to secure the best life insurance rates.

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