If you have ever bought a life policy in the past, you probably agreed to pay a monthly premium. That is not always the case. Sometimes premiums are paid weekly, monthly, quarterly, or yearly. But a monthly premium is a very common way to schedule payments. There is one type policy, called single premium whole life, which is different. In this case, the whole policy is funded by one lump sum premium at the start of the policy.
Many people that have terminal diseases an are near death choose to purchase this type of policy. One reason for that is the cheaper premiums. Most polices range from $5,000 up to $50,000 and have a simple face value because they are meant just for funeral and burial costs. You do not have to worry about medical exams for this policy like you do with many life cover policies.
senior care usa final expense insurance for burial arrangements does not protect against inflation. It is just an insurance policy designed to deliver a predetermined lump sum.
Well, that’s great, except life does not always work out that way. The savings we pinched pennies to put away do not go as far as we thought they would. Some of us lost jobs and had to take out a second mortgage, and so we still owe on our home. Some of our kids did not take off as quickly as we thought they would, and we may even have them, and their own children, depending upon us. Besides, we think it would be nice to leave them something if we pass away, and we certainly did not mean that something to be a funeral bill and other debt!
Don’t fool yourself thinking you’re to young to buy insurance you’re not! Accidents and death can occur anytime, anywhere and your age means nothing! I learned this lesson the hard way in 2005 when an uninsured driver hit me.
Many senior citizens live on very small incomes. After they have to pay for essentials like food and medicine, there may not be anything left over. It is really impossible for most older people to put aside enough money to make sure that their family has cash to pay for these bills.
This is not the whole reason people purchase these policies of course. Of course, most life insurance policies will have an immediate death benefit. And you only need to make smaller monthly payments to get it. Instead of investing $15,000 up front, you could simply pay a fraction of that every month.
They just send out mailers or hire telemarketers and they do their best to get you leads (while still charging you $20-$30 per lead). Why can’t you just do this? If it’s going to work, its going to work for you as easily as it will work for them. Some areas just don’t generate leads and some generate tons. Why waste your money and commission to have someone do this for you? Aren’t you in the final expense business to make money? Aren’t you tired of working for someone else? Then why pay for someone to something that is so easy for you to do yourself?