Critical Questions You Must Ask When You Buy Final Expense Life Insurance

May 28, 2010

If you are considering buying final expense insurance, you need to be aware of the different kinds of final expense policies that are available on the market today. I’ve seen many people who bought final expense life insurance from a big name final expense insurance company that weren’t aware of some of the shortcomings of their final expense insurance policy. Here are 4 questions you absolutely must get answers to.

  1. Will I be covered for the full policy amount on my final expense insurance policy immediately after my insurance policy goes into effect? Many final expense policies are what are called graded benefit policies where you may receive very little money in the first two to three years.
  2. Will my final expense insurance premiums ever go up? Be sure your premiums are fixed for the rest of your life, no matter how long you live. If you have a final expense policy that increases down the road, you could find yourself with an insurance policy you can’t afford just when you need it the most.
  3. Will my final expense life insurance coverage ever decrease? As we all know and experience every day, the prices of things tend to go up over time. You want to be sure that your final expense policy’s coverage not only never goes down but the amount of insurance coverage you purchase allows for increases in funeral costs and other final expenses.

Finding  answers to these critical questions is critical when you purchase final expense insurance or as some call it, burial expense insurance. Never let an agent pressure you into such an important purchase. You want to make an informed decision just like you would with any other major purchase that affects you for many years in the future.


When You are Contemplating Guaranteed Life Insurance For Seniors, Seniors Need To Evaluate Exactly what Your Needs Are

March 23, 2010

Quite a few people buy life insurance because they just think it’s something everybody ought to have. And while the majority of people should have life insurance, the needs and goals of every individual must be well thought-out before you just go out and purchase some say $50,000 or more life insurance policy just because you should have a bunch of life insurance. If you’re not cautious, you could end up with much more insurance and expense that is correct for you or your family.

So exactly what kind of questions should a person be asking themselves when they are contemplating purchasing life insurance, particularly guaranteed life insurance for seniors. While the following list of questions you should ask is not meant to be all-inclusive, it should get you thinking in the right direction so you end up with a good decision about how much life insurance you need as well as the type of life insurance policy.

1.    Do I have other people that depends on me for an income?

2.    If I am departed, what will be the financial blow on my loved ones?

3.    Would my other half or family wish to continue to live in the home you currently reside in or would a smaller place be adequate?

4.    Exactly how much would need to be available to pay for:
a.    My funeral
b.    My debts, particularly that are joint debts
c.    A cushion for a significant other or loved one if they don’t have adequate income by themselves

5.    Just how much expense would I feel comfortable in paying each month to service your life insurance policy?

6.    Taking into consideration my age and physical condition, how long to I want my insurance payment to be locked?

7.    Will I want my life insurance policy to become an asset I can access for emergencies down the road if I survive quite a long time.

So there you have it, some key questions to ask when contemplating the purchase of a guaranteed life insurance for seniors. One last recommendation, obtain a quote from a top rated guaranteed issue senior life insurer on the amount of insurance you are considering buying. That way you have a cost base to weigh your insurance needs.

For a free no obligation guaranteed issue life insurance for seniors, go to whole life insurance online quote or call 1-877-521-7939 (Ask for Diane).

Seniors wanting more information can also visit our website final expense life insurance

An interesting Video For Seniors as well as younger people on Hearing Loss