What is Life Insurance?

Life Insurance for Seniors

Life insurance is a financial product that provides coverage against the risk of premature death. Without it, your family would not be able to pay for funeral and final expenses in case of an unexpected or untimely death. Life insurance can also serve as a retirement investment if you choose to borrow against the cash value built up in your policy.


Life insurance is a necessary part of any financial portfolio. It provides your beneficiaries with the means to pay for funeral and final expenses, and it also allows you to secure your family's future if you die before retirement. You are probably thinking about life insurance because someone close to you has died without having adequate coverage or because you are concerned about your family's financial stability after you're gone. This article will explain how life insurance works, provide a brief overview of the different types of coverage available and give you information on where to get started when buying a policy.


There are essentially two main types of life insurance policies: term and whole. The term is cheaper but only covers you for a set period of time. The whole life is more expensive but also more flexible because it covers you for your entire life and also provides a savings component that allows you to borrow against the policy's cash value in certain circumstances. 

What is Whole Life Insurance?

Whole life insurance is permanent coverage that lasts your entire lifetime, and also has an investment component. It's not cheap (the premiums will be higher than those for a comparable term policy) but it offers more flexibility because you can borrow against the cash value built up in the policy should you need to.

What is Term Life Insurance?

The alternative to whole life insurance is a term policy. These policies are cheaper but they expire at the end of their coverage period and you need to buy new coverage when it runs out. If you don't renew your policy, the insurance company is not on the hook for any final expenses. However, be aware that term life insurance is much less flexible than whole life in that you can't borrow against your cash value or continue the policy beyond its initial term. A senior final expenses policy is a type of life insurance that's geared toward seniors and generally sold as a single premium immediate annuity. With this type of plan, the insurer will make payments to your recipient upon your death. Your beneficiary will be paid the face value of the policy.


The advantage of purchasing a senior final expense life insurance policy is that it offers an affordable way for you to cover your final expenses. As we age, the task of paying our final bills gets more expensive each year. The average cost of a funeral in 2017 was over $10,000, which includes all the necessary services and products needed to lay a loved one to rest. A final expense life insurance policy will ease the burden of paying for your funeral, which is something else you should consider in addition to finding a company that offers affordable rates.

Without these types of policies, many older individuals are forced to dip into their estate to pay for their last medical expenses. However, if you own a final expense life insurance policy, you won't have to worry about leaving an inheritance if your life is cut short. Additionally, the life insurance policy will ensure that your final bills are paid off without any family members having to take on debt.

Advantages of Senior Final Expense Life Insurance Policies

There are several advantages to purchasing a life insurance policy for seniors such as:


* Provides an affordable way to pay your final medical bills

* Allows you to leave behind a life insurance legacy for your family, as opposed to leaving them with debt from their loved one's funeral expenses

* Eases the burden of covering your final costs on top of other regular living expenses such as food and housing


Seniors' life insurance plans can have a variety of life insurance options. You'll want to make sure you're choosing a life insurance plan that will work best for your family when it comes time to pay the costs associated with your death. Your life insurance agent will help you choose a life insurance policy that fits your unique financial and personal needs, so be sure to ask them for advice.

We have life insurance agents who will gladly sit down with you to help you choose life insurance options. No matter what your life insurance needs are, our life insurance agents at the company can assist you by finding life insurance plans that work for you.

The experts at Senior Final Expenses are here to answer your questions about any of the available senior life insurance plans. We can also help you choose a plan that best suits your loved ones' needs. Our licensed agents are ready to answer any questions you have about life insurance or the final expense policy, so feel free to contact us today!

Life Insurance Plan

Why We Have The Best Licensed Life Insurance Agents

The insurance business is incredibly competitive, which means consumers have the power to demand and receive the best rates for life insurance. Our licensed agents are highly trained life insurance professionals who will search hundreds of carriers looking for the right kind of plan for your needs. We also work hard to keep up with all the latest changes in the industry so we can offer you the most up-to-date information. The good folks at Senior Final Expenses work hard to ensure you receive a quality policy from one of the best carriers in the industry, at some of the best rates in the nation so your loved ones can have peace of mind without breaking your bank account or taking on debt. We offer affordable life insurance plans for seniors and lastly, we promise that our licensed agents will do their very best to help you find the lowest rates with the most affordable coverage options, which includes final expense insurance plans.

The End of Your Life is Not a Good Time to Shop for Life Insurance 

Many people believe that life insurance is only meant for those who are terminally ill. In reality, it's something all of us should consider purchasing because the end of your life can come sooner than you think. Why wait until you're sick to buy a policy? The truth is that most seniors don't need to be in top shape to buy a life insurance policy. In fact, it's important to choose a plan and purchase it as soon as you can. Don't wait until your health is declining because, at that point, it will be more difficult to get the coverage you need.

Final Expense Life Insurance Options 

There are many different types of final expense policies available depending on your individual situation and what you are looking for in a policy. For example, our life insurance agents can find a plan that pays out immediately or they may be able to help you purchase a policy that will pay out over several years. Policies can also be tailored to suit your family's needs as well. You may want to choose a policy that will help your spouse get back on their feet after you pass away. That's why it's important to shop around and compare final expense life insurance plans. Our licensed agents can explain all of the different policies available and they'll even go over prices so you know what it will cost to purchase a policy in advance.



The last thing you want to do is wait until it's too late to shop for a plan and then realize your family has no way of paying off your final expenses. This is why it's best to contact our licensed agents as soon as you can so they can show you how easy it is to get life insurance. Our life insurance professionals can help you find the plan that's right for your family. The good folks at Senior Final Expenses are here to make sure you receive a quality policy from one of the best carriers in the industry, at some of the best rates in the nation.


Share by: