Low Rate Burial Life Insurance Is Now Available in Richmond, VA
A burial life insurance policy is an excellent way to supplement the financial assistance you leave behind for you and your family. If you already have an existing life insurance policy or a family nest egg set aside for this purpose, a burial life insurance policy will give additional coverage to your beneficiaries.
If you are a senior who has already purchased a life insurance policy, chances are you have purchased it many years ago. The coverage may have seemed sufficient at the time, but the cost of living increases over the years. This means the amount of coverage you purchased at the time may not be sufficient for your beneficiaries today. Plus the cost of living continues to rise, so it is important to keep an eye on the amount of life insurance you have.
There are other expense that need to be taken care of other than your income once you are away from the picture. The average funeral in Virginia today can range from $10,000 to $15,000, and just as the cost of living increases, so do funeral costs. Having an additional burial insurance policy can help your beneficiaries pay for the cost of your burial and funeral.
People today are living much longer than they did a generations ago, which means your beneficiaries may live for many years after your death. You want to make sure that the life insurance coverage that you do have is sufficient coverage for the duration of their lives, or however long it takes to adjust financially to your death.
So if you are a senior that already has life insurance or a savings set aside to financially compensate your family members take a look at purchasing a burial insurance policy for the reasons I just mentioned.
Get Burial Life Insurance With No Medical Exam
Term life insurance policies are very popular these days, and of course, they can provide very valuable protection at a low cost for many people. However, the problem with term life insurance is that it expires just when the covered person would find it harder to find protection, after ten or twenty or thirty years, the term life insurance expires. The theory behind term life insurance is that by that time the insured person will have less obligations, and they will have enough money saved to self insure.
However, we find many senior citizens and retired people who have not had the good fortune to be free of obligations, and with sufficient savings to cover their debts, final expenses, and other obligations. Also, by the time we reach maturity, we may also have developed more health problems. As if an advanced age were not enough, health problems may make us very tough or expensive to insure at all!
However some life insurance companies have developed burial life, guaranteed life insurance, or final expense life insurance programs to meet these needs. These are, basically whole life insurance policies. This means that the policy will stay in force as long as the policy is kept in force. A policy is usually kept in force by paying premiums, or by having the policy paid up. Yes, many whole life policies can be paid up over a period of years, usually ten to twenty years. In this case, an insured person can relax, knowing they will have life insurance for their whole lives, and not just for a period of years.
These type of burial life insurance or final expense policies come in two types that do not require a medical exam. For a face value that usually ranges from $2,500 to $25,000, many senior life insurance companies will offer simple issue and guaranteed issue life insurance policies. Because the face value is lower, and so the risk to insurance companies is lower, you can find some more relaxed requirements to gain affordable coverage for life insurance. Seniors can leave this money to a beneficiary, usually their spouse or children, to cover burial expenses, settle final debts, and leave some money as an estate.
Simple issue life insurance policies provide immediate death benefits. They do as health questions on the applications, but the great majority of seniors can qualify. They usually only declined applicants who have a terminal disease, or are in a nursing home. So smaller health issues will not prevent an applicant from obtaining coverage. Since the coverage is immediate, as soon as the insured person is notified that their policy has been issued, they will be covered.
Guaranteed issue life insurance policies do not ask any health questions at all! Instead they underwrite by delaying full coverage for a period of months, from 24 to 36, or 2 to 3 years. If the insured person passes away during this qualification period, they will refund all premiums with a specified interest rate. For an older individual with serious health issues, this is still a no-lose deal.
GET A GUARANTEED ISSUE LIFE INSURANCE QUOTE!
If you are an older person, or if you are concerned about paying final expenses for your parents, consider a burial life insurance policy. It will be much easier to pay an affordable monthly premiums than to come up with several thousand dollars for a burial and other expenses after the person dies.
GET AN AFFORDABLE BURIAL INSURANCE QUOTE!
The insurance industry is constantly evolving. Insurance providers are forever trying to refine the balance between cost and coverage. As competition gets stronger, companies are working harder than ever to bring you the best protection at a price you can afford.
Whether you are searching for Burial insurance, annuities, life insurance or niche plans such as guaranteed issue life insurance, you need to be one step ahead of the game if you want to get the most out of your policy. This is where we come in...
| David A Lewis Jr-Local Agent Our agents are expert in the field of insurance in Virginia. Did you know that some insurance laws and plan prices differ from state to state? We will help you get the best plan for your money, wherever you happen to live. No matter what type of insurance you are looking to buy, it is important to us that you get it right first time. This could save you a lot of stress - and possibly lots of money. | A message for Seniors: As a client, your needs are a priority. We offer several services for retired persons aged 65 and over as well as guaranteed plans for those who have been diagnosed with a pre-existing condition. Burial life insurance is one of our most popular product categories, and rightly so. If you spent a large sum on out of pocket funeral expenses you can really benefit from one of these policies as well as enjoying substantial savings. |
Your family will always come first; you wouldn`t want them to have to bear the financial burden of your last days. No matter what your age, it`s always good to have a plan as to how you intend to cover these costs. Final expense insurance will pay for your funeral service and other associated costs.
Your standard of living is important to you. Should you be taken ill or suffer mobility problems further down the road, we want you to lead the most comfortable life you possibly can. Long term care insurance makes this possible. It also lifts the burden of care from those around you, improving the standard of living for everyone you hold dear.
We know about the benefits and pitfalls of group versus single insurance policies; employer sponsored health plans; term versus whole life and other insurance `gray areas` that customers often wish to better understand. Please don`t hesitate to call us with your questions, no matter whether you are a valued customer, a potential one, or if you simply need advice.
