Benefits of Getting Burial Insurance for Seniors Over 85

Grandparents Over 65 Happy with a Guranteed Life PolicyIf you have reached the age of 85 and you do not have a funeral or burial insurance policy, then it is time to consider getting one. The cost of a funeral today is over $9,000, but there are additional expenses for families whose loved ones have passed away such as an unpaid debt which may cause a considerable burden. The good news for seniors over 85 who buy a life policy is that there are at least five solid benefits to having this type of coverage.

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Covers Funeral Costs

First and foremost, burial insurance covers the cost of a funeral so that your family is not burdened. This is arguably the most beneficial aspect of having good life insurance because it protects your spouse, children, and grandchildren from having to shoulder the financial burden of funeral expenses during their time of grief.

Covers Other Expenses

In addition to the burial costs, the insurance also covers any unpaid debt that might otherwise be a financial burden to your family. This includes paying off or paying down on the mortgage, covering expenses such as credit card debt for you and your spouse, and any other debt that will need to be addressed. This will help ease the financial transition caused by the loss of your income and provide comfort to your spouse or family in the process.

No Exam

While standard life insurance policies require medical exams and health questions, burial insurance is easier to obtain because they have fewer requirements. You can even purchase insurance that has no exam or health questions, although the premiums will be higher. The good news is that even if you are over 85 and have suffered from health issues, you may qualify for burial insurance.

Leaving a Legacy

In addition to covering funeral expenses and any unpaid debt, the policy can also carry a legacy for children and grandchildren which can help pay for college expenses, a down payment on a home, or other purchase which provides some comfort or relief. For seniors who have little in the way of income or savings to help their families, a right life insurance benefit can mean so much.

Peace of Mind

One of the best reasons to get burial insurance for seniors who have reached the age of 85 is the peace of mind that it delivers to you and your family. No longer will you have to be concerned about the financial expenses that otherwise would burden your spouse and children if you should pass away. Plus, it helps your loved ones focus on each other and the feelings they will be dealing with instead of having to make decisions about your funeral arrangements in their state of mind.

A no exam life insurance policy for seniors over 85 is affordable, provides coverage for funeral expenses and unpaid debt, and may even provide a legacy for your family. You should shop around online by getting free quotes or seeing an independent insurance agent who represents many different companies so you can find the right burial insurance for your needs.