It is natural for everyone to want to live forever. So death is an eventuality you have to face. Instead of being irresponsible and not planning for it, it’s always better to plan for death with a funeral insurance policy. This way, you know your death does not burden your loved ones. How can I get Life Insurance for my parents?
Of course, you don’t actually require funeral insurance if you have lots of money to leave to your loved ones, which they can use to cover your funeral costs.
However this is not something everyone is lucky enough to have.
Moreover, if you do have some extra cash or assets, instead of making your loved ones use it to pay for your funeral costs, it’s better to have a funeral insurance policy they can use to take care of your funeral costs. This way, you can leave your estate intact for them to enjoy.
Enjoy retirement with no worries
If you have a funeral insurance policy, you can enjoy your retirement days with your loved ones, especially if you have health problems. This is because you know your insurance will take care of all your funeral expenses if and when you die.
Of course, you need not get funeral insurance if you want to have your children pay for your funeral expenses. While some people think that as they had taken care of their children’s tuition classes and met their needs when their children were small, their children should now bear their funeral expenses. However this is not how most parents look at things.
Most parents today prefer to have sufficient money ready for their funeral expenses and don’t want their children to pick up their final tab.
Funeral insurance is not a fraud
One reason why most people don’t get funeral insurance is because they think it is a fraud as they think that the policy entails high premiums and pays only under some circumstances. However this is false as funeral insurance companies follow the same criteria for calculating its premiums like any other life insurance policy.
Moreover, the policy pays only if and when the insured person passes away, not before it. So as long as you pay your premium amounts, and do not give false information in your application, no funeral insurance company can refuse or cancel your insurance claim payment.
So now that all your doubts and misconceptions about funeral insurance has been eradicated, you may as well get yourself a policy and keep yourself financially independent even after your death.
Can I get Life Insurance for my parents?
Yes, you can.
You will be the owner of the policy, pay the premiums, and also be the beneficiary of the death proceeds.
Usually this is okay as long as the child can prove an insurable interest. This is 100% legal, but will require approval by the insurance company.
An insurable interest means that the child would be somehow financially affected by the death of his or her parents. So if your parents have a big mortgage on their home, and you don’t want to inherit their debt, life insurance may be in order. Or if you are responsible for your parents funeral and burial arrangements, life insurance may be used for this.
Mintco Financial is the leading independent company that specializes in Life Insurance for Seniors.
Seniors up to 89 years old can be insured depending on which State the policy will be issued.
Call Mintco Financial Now 813-964-7100 or get a free quote
Mintco Financial shops for you and get the most affordable life insurance for your parents.