These are some of the best final expense companies
How Does Burial Insurance for Seniors Work?
How can your burial insurance policy help you while your are living?
First and foremost, your burial insurance policy is designed to make sure you have a proper funeral. Secondly, your burial life insurance policy can be set up so you leave no financial burden behind for your loved ones.
What many do not realize is you Burial Insurance Policy can work for you while you are living. It can act as your emergency funds.
So let us learn how a real burial insurance policy works for the living - YOU!
- Jane Test, living in South Carolina. A female, who does not use tobacco and who was is 60 years old.
- Jane buys a $25,000.00 face amount burial insurance policy from us.
- Her monthly premium payment is $77.26 per month.
- Her monthly payments NEVER INCREASE
- Her benefits NEVER DECREASE
- SO far this is a good policy and basically a standard issued policy.
Now Jane buys her burial insurance policy online from us.
- Jane makes her premium policy payments on time for the next 15 years.
- Jane needs money. She made need money for medical bills, she may wish to help her son or daughter buy a house or she may wish to help pay for the education of one of her grandchildren, But Jane's bank account is empty. What will she do? How can she help her loved ones?
Where can Jane get money to help her loved one?
- The burial insurance policy Jane purchased from us builds cash value, which Jane can withdraw to help her loved ones.
- How much money can Jane withdraw? If Jane has kept her premium payment current. Then in the 15 year of her policy, she will built up a cash value of $7,6500 she can withdraw.
- And there will still be money in her burial insurance policy to help with her funeral and cover debt she has at the time of her death. This depends on the face amount of the policy. We can discuss this with you.
- So Jane, while living has helped her family, thus she can see the smiling faces on her loved ones. And when she is gone, they will continue to be smiling, because she also has left no financial burden behind.
The view our brochure for more information on this option - Click Here
A few companies offered Guaranteed Life Insurance or sometimes referred to as Guaranteed Burial Insurance for Seniors.
Here is a nice overview of Guaranteed Burial Insurance. Please request your free quote information before, so we may you with any questions you may have -
Guaranteed Life Insurance Features
- You DO NOT have to take a medical exam
- You DO NOT have to answer any health questions on the application
- Our guaranteed burial insurance policy is for ages 50 to 80
- The face amounts are from $5,000.00 to $25,000.oo in increments of $1,000.00
- Your monthly premium payment will NOT INCREASE
- Your benefits will NOT DECREASE
- To download our brochure for information - Click Here
If you are asking yourself - Why Buy a Burial Insurance Policy from Us?
We realize there are many companies you can buy your burial insurance policy from, but you should buy from us because
- We are independent insurance agents and these means, we find the burial insurance policy which is right for you and not right for the insurance company.
- Many agents work for just one insurance company. And they are trained to sell only the burial insurance policies from that one company. So there is no shopping and comparing to find the lowest rate and the burial policy which fits your budget. They sell what they are told.
- We represent many different insurance companies selling burial insurance policy and this is good for you, because we help you shop and compare burial polices. You do not have settle for a policy which is not right for you.
- Some of the companies we represent are Lafayette Life, Liberty Bankers, Foresters and Mutual of Omaha to name a few. We are qualified to do business with them all.
- You pay us nothing for free quotes and information
- Your burial insurance premiums are paid directly to the burial insurance company you choose to buy your burial policy from.
- How do we make money? The insurance companies pay us when we right a policy.
These are the main burial insurance classifications you will see. Not all burial insurance companies offer all the different levels and each state has different rules. We know the rules and will help you find the burial policy to suit your needs and fit your budget.
Each burial insurance company will also, in many cases, have age restrictions. Most will cover ages 40 to 85. And in some cases up to 90 year of age. Just remember the younger you are the lower insurance premium you should get.
- Level Death Benefits
- Graded Death Benefits
- Modified Death Benefits
- Guaranteed Death Benefits
To be approved for the Level, Graded or Modified life insurance policy. There is NO medical exam required, but you will have to answer some health questions. The guaranteed burial policy has NO medical exam requirement and NO health questions are ask. We can help you find out which burial insurance policy is right for you - Get your quote today!
Level Death Benefit for Burial Insurance Policies
You may qualify for a level death benefits burial policy even you use tobacco. The level benefit burial policy, in most cases, offers the lowest monthly insurance premium payment. We always start with trying to get you approved of this type of policy. If we can not, we go to the Graded Benefits insurance policy, then the Modified Benefits burial policy and then if we can not get your approval for these based upon your medical conditions, we move to the Guaranteed Burial Insurance Policy.
Grade Death Benefits Insurance Policies
- Each burial insurance company can have different polices concerning the graded benefits burial insurance policy.
- An overview would be - If you die during the first year, you will be paid 40% of the face amount of your policy. If you die during the second year, you will be paid 75% of your policy and then if you die in the third year and beyond while your policy is in place. You will be paid 100% of the face amount of your burial insurance policy.
Modified Death Benefits Insurance Policies
- If you die during the first two years your burial insurance policy is in effect. You will be paid the total amount of the premiums you paid in, plus interest. The interest rate will vary from insurance company to company. Some pay 5% and some pay 10%. Why is this good? Look at it this way. If you are guaranteed 10% on the premiums you paid it, well this rate is normally much higher than you can get in a checking or saving account at a bank.
- If you die in the third year and beyond. You will be paid 100% of the face amount of your burial policy.
Guaranteed Death Benefits Insurance Policies
- The guaranteed life insurance policy has a return of premium (ROP) if you die during the first two years of the guaranteed life insurance policy. You will be paid interest on the premiums returned to you. They are very similar to the modified insurance policy, except with the guaranteed death benefits burial insurance policy. There are no health questions.
Based upon information from National Funeral Directors Association (nfda.com) here are some statistics to help you learn about funerals.
- In 2105 there were a reported 19,291 funeral homes in business, which is down from 2004, which shows 21,528 funeral homes were in business. It is wise to buy you burial insurance plan from a well know, top rated insurance company, which we represent. Look at your burial insurance policy as a long term investment. And you want the company holding your money to be financial stable.
- Statistic show the cost of the national median cost of a funeral in 2004 was $6.580.00 and then by 2014 there was almost a 30% rise in the cost of a funeral to $8,508.00. The point here is to buy enough burial insurance to cover your needs. We can help you determine this by your requesting a quote.
- The median cost of cremation with viewing was $6,078.0o in 2014
First and foremost, your burial insurance is used to pay for you funeral. And to avoid leaving a final burden behind for your loved ones.
But there are other uses, which many overlook, when buying a burial insurance policy. We are not lawyers, so you may need legal advice to set up some of these options and you may also need to speak with your tax advisor on some of these options. We can work with either. But if you have an idea about how you wish to set up your payouts to your beneficiaries, please request a quote to get us started. It is not a difficult as you may think to set up some of these options. Here are some ideas.
- Consumer Debt - The most common consumer debts are credit cards and payday loans. Setting up a term life insurance policy can cover these debts, which will not leave your family with this burden.
- Mortgage Debt - This is a very popular usage of a final expense insurance policy. There is no reason for your loved one to lose your home if something happens to you.
- Charity - For those who enjoy helping others outside their family, we can help your setup your burial life insurance policy to pay the beneficiary of your choice. You also set up your final expense life insurance policy to pay your family member a portion and then some to the charity of your choice.
- Education - Your final expense insurance can go a long way in providing for the large debts which may arise do to the cost of an education, which seems to be rising yearly. Also keep in mind, this life insurance policy can cover not only class rooms hours, but can also be setup to cover the cost of living such as room and board.
- Estate or Inheritance Planning - Many of these plans are not taxed and the beneficiary of your choice could receive a tax free payout.
There are several different ways to purchase burial insurance for seniors
- An agent can visit your home, which many do not wish to have a stranger in their home.
- Buy burial insurance online, which is how we help our clients. It is fast, accurate and does not take up much of your time.
Steps to Buying Burial Insurance Online
- First, you choose the company you wish to be insured with based upon the reputation of the company and their quoted premium payments. Use the form on this page to get started
- We call you
- We review your request with you to make sure you understand the policy completely. We answer any questions you may have.
- We fill out the application while we are on the phone
- We fill out the application to the insurance company of your choice
- You get an email right away, while we are still on the phone
- You review the application to make sure all the information is correct
- You click submit or agree, in some cases. And you application is sent to the insurance company you have picked
- THAT IS IT! And in most cases we can do this all in one phone call
- Total time is about 15 minutes, which the benefits last beyond your lifetime.
- Quick and simple.
If you are asking - How is the Premium Payment for Burial Insurance Policies Calculated?
- There are several facts the insurance company will look at while reviewing your application
- But a few of the main facts the insurance company will be your age, if you use tobacco and what is your current health, which will be established by you answering a few health questions.
- NOTE - There are no health questions when buying one of our guaranteed life insurance polices.
As you age the insurance premiums will increase, so your policy payments should be lower if you buy at age 55 than wait until age 60
With most burial insurance polices you will be ask if you have used tobacco products in the past 12 months. If you answer yes, your premium payment on your burial policy will be higher. You can still be insured.
If you are willing to answer some health questions, this could save you money. In many cases you can have a medical condition. And if your medical condition is under control and depending on which prescribed medications you are taking under the direction of a doctor, you can be insured. Plus even is you smoke or have a medical condition, you still may qualify for a Level term burial policy, which offers the lowest monthly premium payments.
You must apply to be accepted and the younger you are the lower your burial life insurance monthly payment should be.
Get your free burial insurance quote today and see how much your monthly premium payment will be for your burial policy.
Your may pay for your burial insurance policy by:
- Credit card, but keep in mind the insurance company wants three (3) months of premiums to start your account and then after. The reason is because of the credit card processing fees
- Social Security Express Card
- ACH or Direct Deposit from your checking or saving account
Finding the best burial insurance company takes a little research on our part. And we do all this for you at no charge
We represent some of the best burial insurance companies in the world. To name a few and please keep in mind, as independent burial insurance agents, we are qualified to do business with any and all burial insurance companies. So we help you find the burial insurance policy which is right for you and not others.
Some of our best burial insurance companies we have found who put the client - YOU - first are:
- Mutual of Omaha
- Lafayette Life
- Liberty Bankers Life
- Gerber Life
- Assurity Life
- Click here to Compare Final Expense Companies
As the old saying goes "One person's trash is another gold". So what does this mean. It means that one burial insurance company or one burial insurance policy might be right for one person, even a family member of your, but that does not mean it is right for you! This is where our expert knowledge is going to be very help full to you. After you have submitted your request for a free quote and given us some of you information. WE GO TO WORK FOR YOU!
Keep in mind you must apply to be approved. So the sooner your start your application, which we help you, to sooner we can find out which is the best burial insurance company for you.
There is NO COST and NO OBLIGATION TO BUY for asking questions and requesting a quote.
Get started by requesting your online burial insurance quote TODAY.
Guaranteed Life Insurance Acceptance is a fast and easy application. There are NO medical exams and NO health questions. This application only take a few minutes to complete. And approval is guaranteed.
For Guaranteed Life Insurance Acceptance for MALES > Click Here
For Guaranteed Life Insurance Acceptance for FEMALES - Click Here
The answer is simple. Age plays a very important part of how much your monthly life insurance premium will be - The older you are - the higher your monthly premium will be. Act today. Save today. Request your no obligation final expense quote today.
The amount (stated in the policy) that is available in cash upon the surrender of a policy for cancellation before or after the policy matures (as a death claim or otherwise).
As a general rule, death proceeds are excludable from the beneficiary’s gross income. The proceeds are received income tax free by the beneficiary regardless of whether the beneficiary is an individual, a corporation, a trustee or the insured’s estate. In order for the death proceeds to be fully excluded from the beneficiary’s gross income, the life insurance contract must meet the provisions of applicable state law and the definition of life insurance found in the Internal Revenue Code.