We all know this to be a fact, everyone gets old and will one day have to leave this life. It is a sad time for everyone, but it can also be rather costly matter. When we get old, if we are lucky enough we will pass away naturally, but often it is due to some illness that will end up with huge medical bills and a funeral expense that our families will be burdened with after we are gone. However, with a funeral insurance for the seniors, we can take care of all these even before things start going downhill.
What is this insurance?
It is simply a life insurance that extends a little further and includes burial costs. It will allow those we leave behind to manage all the expenses without having to pull out their savings. Here are some of the many benefits of getting this type of insurance policy.
1. Medical bills covered
Since many seniors may end up in the hospital due to an illness or old age, the insurance will cover any medical bills that may have added up. Many people pass away at a hospital, and the medical costs are not so cheap.
2. Burial expenses
The insurance will also cover the cost of burial which can be a cremation or a ground burial. You can specify if you want to graveyard service and/or memorial service etc. In this way, there will be no need for your family to think of the costs.
3. Show people you still care
Since a funeral requires a lot of planning and arrangements to be made, it will put more stress when your family needs to pull out money for the various expenses. If you have this policy in place, they will know that you have thought of them even after you are gone.
4. Easy to claim
When you get the insurance policy, you will have to nominate someone who will become the recipient in case of your demise. All they have to do is take the death certificate, and the insurance policy and the funds will be released to them. It may be a lump sum or a monthly payment according to your instructions.
5. Anyone can buy the policy
The insurance can be paid for by a child who has elderly parents or by the senior themselves. The details do not have to be filled in immediately and can be done later on after discussion between family members.
Even though we do not like to talk about it, planning for a funeral or burial with an insurance coverage can make the difficult time a little less stressful for everyone concerned.