Burial insurance, or final expense insurance, is like a boon for senior citizens because it takes away much pressure to worry about funeral costs. Everyone has a right to depart to the afterlife with utmost dignity. Still, senior citizens often worry about burial costs that their beneficiaries will have to bear once they are gone.
Burial insurance gives them the chance to make arrangements for their funeral, just the way they want. If you are worried about similar issues, here are some reasons as to why you should get the best final expense insurance for yourself.
- Easy to Obtain
Compared to other kinds of insurance policies, burial insurance is easy to qualify for. For life insurance, you often have to go through many medical tests and examinations. Many senior citizens do not want to go through that ordeal anymore. A time comes in their lives when they want to be at peace with themselves.
With burial insurance, no significant health queries are made by the insurance provider. Even if they do ask questions about their medical history, it is only for the records. There are hardly any hurdles that a senior citizen has to go through to qualify for this insurance.
- Lower Premiums
Since most senior people buy burial insurance very late in their lives, the premium rates are not as high as other life insurance schemes. Most burial insurance providers know that seniors pay for the premiums mostly through the money from their retirement. They try to keep the premiums as economical as possible and the clauses uncomplicated. The premiums are almost always locked, so there is no worry about the premiums increasing after the quarter. In some cases, you might also get a cash value in return if there is no death in the tenure for which you purchased the insurance. This feature varies from provider to provider, but it is something to be explored.
- Assistance from Insurance Providers
Unlike regular insurance, burial insurance providers are much more mindful of senior citizens’ needs, mostly due to their advanced years. The process is made hassle-free and transparent for seniors to help them find a suitable policy.
There is minimal paperwork, and there is always a representative by their sides to guide them through acquiring the insurance. They also help the beneficiaries to get access to the fund after the death of the insured person. You know for sure your beneficiaries will get a payout, and they won’t have to worry about your funeral finances once you are gone.
- Freedom to Choose
With burial insurance, a senior citizen gets the freedom to choose what kind of funeral they want for themselves. Funerals can be expensive. The price of the casket, flower decorations, costs of the funeral home, renting a venue for the memorial, transportation to the burial ground, costs of the funeral home, paying for the funeral lunch or dinner, and some other related expenses can together add to a lot of money.
You might not be comfortable leaving your beneficiaries to handle all those expenses. However, if you can pay for all of that yourself, there is no reason to compromise on what you want. The burial insurance benefit will cover the costs of the expenses, and all your beneficiary has to do is carry out your instructions. You can take care of your final expenses yourself, even when you are alive.
If you like to plan everything meticulously while you are alive, you will also plan for your final passage after your death. With a burial insurance or the best final expense insurance, you will have full control over your funeral preparations without worrying about the costs.