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Life insurance for seniors over 80 years old. Yes, it's true that the average funeral costs about $6,500 not including the burial plot, according to the National Funeral Directors Association. Adding in burial expenses, a funeral can cost about $10,000.
So sure, if you don't have any savings to speak of and you worry about paying for a funeral, then it may be prudent to get a small life insurance policy to cover the funeral costs.
Can I be insured I am 80 years old?
Yes you can. Just contact us at 813-964-7100 ( Mike Minter). www.MintcoFinancial.com
We will provide you the best quote.
FINAL EXPENSE INSURANCE, also known as "burial" or "funeral" insurance, is a life insurance policy with a low face value, such as $5,000 to $50,000, that you buy from an insurance company. You can name any beneficiary, typically a family member, who would make the claim and receive the money upon your death. That beneficiary would then be responsible for using the money to carry out your wishes.
FINAL EXPENSE POLICIES are generally either "simplified issue" policies, for which you're asked several medical questions but don't have to take a medical exam, or "guaranteed issue," where the policy is issued to anyone who applies with no medical questions asked.
People who have a serious health problem may receive a policy with a "graded death benefit" or a "modified death benefit," which means the coverage amount increases over time and your beneficiaries won't receive the full face value if you die within the first few years of the policy.
Remember that any life insurance policy can be used to pay for a funeral.
For more information about purchasing a FINAL EXPENSE POLICY, feel free to contact us. Our service is designed to be informative without any obligation on your part to buy unless you believe that this product is right for you. Need a quote?