If you are a senior citizen, or if you are involved in the care of an elderly person, you have probably been bombarded for ads for products that are called burial policies or final expense insurance. These are, simply, smaller face value whole life insurance policies that are designed to be simple for older people to apply and qualify for!

Because, in terms of life insurance, the premiums are kept lower by the smaller face value, they can be a convenient way to plan for a funeral. Of course, nobody likes to think or talk about funerals or the fact that a loved one may pass away soon. However, with the sky rocketing cost of funerals, it is madness to think the problem will just take care of itself!

Funerals average $7,000 - $8,000 in the US, and in some cases they can cost much more. Besides just the burial, other expenses like travel or transporting a body almost certainly will arise. The elderly person may have left some debts or other financial matters that may need to be taken care of. A final expense or burial life insurance plan can usually even be used at the funeral home as proof of ability to pay for the funeral which takes an edge off of the expense if nobody is around who can write a quick check for a few grand.

The type of final expense or burial policy that an elderly person can get will depend upon their age and health status, though plans exist that cover seniors to age 85, and also for people with serious health issues. However, of course, the younger and healthier a person is, the cheaper the monthly premiums will be!

A burial life insurance policy is, in my mind, much better than a pre-paid burial plan. This is because a pre-paid, or pre-need plan will tie you into one funeral home or chain of funeral homes. I know of many elderly people who left their home unexpectedly because ill health forced them to move closer to children who had migrated away for job opportunities. Also, pre-need funeral plans only cover the funeral. They will not provide cash, to use as needed, that can also pay for travel, debt settlement, etc.

Compare Burial Insurance Plans Online

burial insurance, final expense insurance, senior citizens insurance