Although you might not want to think about it, planning for funeral and final expenses is a necessary part of your financial plan as you get older.
A senior life insurance policy is an easy way to set aside funds for your family to pay for your final expenses and allow them to maintain their standard of living even after you have passed. So, in exchange for premiums (payments), the insurance company provides a lump-sum payment, known as a death benefit, to beneficiaries in the event of the insured’s death. It is never too late to look into senior life insurance and it is vital to do so to protect your family.
By purchasing a Senior Life Insurance Policy you can help your family:
Continue to pay the home mortgage.
Maintain their standard of living.
Pay off debts, estate taxes, final expenses, etc.
Create a fund for college education.
Create a fund for a family member with special needs.
There are many varieties of life insurance- Term Life, Universal Life, and Whole Life Insurance for seniors. Our Senior Health Specialists can help explain your options, provide quote illustrations, and help you determine which would be the best fit for you.