If you are caring for an aging person, or if you are a senior citizen, then you might have noticed ads for the seniors burial insurance. These are also known as financial expense insurance. The offer looks helpful and very beneficial because they promote a way to handle your funeral expenses by making monthly payments easily without any financial problems. If you have done any kind of research on the funeral prices, then you know that they are average around more than $7000 and can even cost you more. This is only the burial expenses but sometime family members have to travel and it can be more expensive. The departed may have left some affairs or debts to be cleared, which is another big thing to deal with. You never want to think about the death of your loved one. This kind of situation is very stressful and a little proper planning can reduce your pressure.

These types of policies are similar to whole life insurance companies which have been designed to be apply easily. They have been designed also with older people, usually senior citizens around 50-80 years of age. Simplified issue policies would ask you few health questions and most elderly would be qualified. The meaning of guaranteed issue means that no questions related to health would be asked. They will use a waiting period rather than asking health questions to qualify the applicants.

You should look for the simplified issue, because the premium cost less and they payout without any waiting period. If you as an applicant is already ill, then a guaranteed plan would be a no- lose deal. The beneficiary would collect the premium plans interest if any insured person passes away before the waiting period and they would get the paid premiums and also interest.

Do not try to run off and buy the first policy which you are watching on the Television. These polices can come with different tags of price. Insurers are different at the time of setting their premium rates. You have a right to compare premiums and plans like if you are shopping for any other type of insurance.

Some plans would have an immediate death benefit. It means that they pay the full face values after issuing the policy. Other will have a waiting period before the payment of full benefit. It is very vital for you to understand how your policy is going to work before you purchase it and also before you make a claim.

All the seniors should get a policy with an immediate death benefit. But some people with different health conditions wouldn’t be qualifying for it. In this case, it would be Ok to consider a policy with a waiting period. They pay a partial death benefit or refund premiums if the insured person passes away before the waiting period. It is an easy task to compare prices and plan with online quote forms too. You can spend a couple of minutes in completing them. So, start searching and comparing now!

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yerevan

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