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What is the final expense life insurance? Ever pondered over the thought of future of your loved ones once you aren't there? Unfortunate incidents can happen in anyone's life at any point. It is essential that we are prepared for the future at all times. This is exactly what final life expense insurance helps us with. It is made and planned in such a way to cover the final bills that your family will receive after your death. Also termed as 'burial insurance,' this takes care of the pre-death medical as well as funeral costs of the insurance holder. Final expense life insurance is a type of permanent life insurance. It is most commonly used to cover up all the costs that one might face near the end of life. There are expenses like medical costs, funeral costs, burial costs and even the cost of a casket that are covered in this senior plan life insurance. What are the features of Final expense policies? There are many features that final expense insurance carries with itself. Apart from a hassle-free process for the family, there are other pros of opting for a final insurance expense plan as well. Funeral expenses can be a substantial troublesome amount. No individual wants to leave his/ her family with extra responsibilities and burdens. Fortunately, there are many reasons as to why they should go for a senior final expense insurance program.

• Approvals that take no time

Usually, insurances can take up a lot of time for approvals. It might even stretch to months for a small insurance request. However, these final expense life insurance for seniors get approved in a matter of minutes. Companies offer instant approvals when it comes to these insurance plans for senior citizens.

• No Questions Asked

Usually, these insurance plans have quite a lot of examinations that applicants have to go through. They are asked multiple questions as well. Whereas, to get a senior plan life insurance, there are no pre-requisites, physical or medical examinations that are necessary.

• No expiration date

The coverage for senior plan life insurance is for a lifetime and cannot expire at any point in time. The expenses that it covers are after death expenses, something that is incurred by the family.  

• Payouts that are lightning fast

The bills for the funeral need to be taken care of and cleared at the earliest. Hence, the funds provided by the insurance should not be delayed. That is where senior final expense insurance program really scales. Usually, the payouts are cleared within a week after providing the proper paperwork.

 

What is needed to apply?

The applicants have to provide full details of their medical history. They will be required to provide a MIB (Medical Information Bureau) file as well. This MIB file contains all the information regarding the applicant's health. A MIB file will have all the information that the applicant would have disclosed to any company regarding their medical state.

 

What are the questions that one needs to know?

There are a few questions and conditions that one needs to clear to get open care insurance services.

If the applicant answers in affirmative to any of the below mentioned questions, then we will not be able to secure a final expense life insurance for them.

• In case the proposed insured is presently in a hospital or nursing home

• If the proposed insured is receiving hospice care at present

• In case any medical professional has advised the proposed insured to be left with a life of less than one year

• If the proposed insured is over 89 years old

• If the proposed insured has been tested positive for HIV or diagnosed with AIDS

• If the proposed insured been diagnosed with Alzheimer’s disease or dementia?

How can we assist you in the process?

Here's how we can help you in acquiring the best final insurance expense plan for yourself:

Price: We are an independent insurance agency having business associations with top final expense companies in town. This would ensure you the most cost-effective plan fit for your needs.

Experience: When it comes to experience, we ensure you a dedicated staff having decades of years' experience in handling final expense life insurance policies. This experienced staff will provide the best possible assistance in choosing the perfect final expense policy plan.

Knowledge: We act as your agents and interact with the final expense life insurance companies on your behalf. Our experts have complete knowledge regarding your policy plans and hence, guide you well with it.

Speed: The insurance policies we help you with are handled entirely by our team. Thus, we make sure you get your policy issued to you at the earliest. Most of the policies are issued within 48 hours of applying and after submission of proper paperwork.

 

Benefits of applying for final expense insurance for senior

Final expense insurance is accompanied with various benefits. The most significant ones are as follows:

• All the ceremonial costs are taken care of.

The final expense insurance for seniors covers all the funeral costs. This covers everything, right from the cremation, caskets, and embalming to the funerary services.

• No botheration for the family members

Deaths are a time for the family to remorse and comfort each other. At this hour, it is ideal not to burden them with other aspects. The expenses' aspect can entirely be avoided at this hour by opting for final expenses insurance. Hence, the family won't have to go through any stress when it comes to financing.

• Procedures and rituals carried out peacefully.

No infighting, scrambling or any rivalry among siblings for payments would be there. The insurance already handles and covers all the costs.

Why should you consider buying final expense insurance for a senior?

Listed below are a few reasons that will surely make you consider buying final expense insurance:

• The fund value experiences an increase over time

The fund value you save beforehand is bound to experience growth similar to a savings account. Thus, it benefits you in handling the funeral at lower costs.

• Customized plans

The insurance plan you opt for can be customized as per your requirements and costs analysis.

• Exempted assets

Your final expense insurance plan might fall under the classification for an excluded asset. This is to make the applicant qualify for Medicaid as well as SSI.

• Ease of taxation

There is no need for you to worry about any growth or taxation if you are transferring funds from an investment.

Opting for a senior plan life insurance seems like the appropriate plan for any concerned elderly individual. Make sure you do not leave any liability on your loved ones. Get a senior final expense insurance program and live your last few days, worry-free!