Posts Tagged ‘final expense insurance’

My New Plan for Retirement – Final Expense Insurance

Friday, July 3rd, 2009

So after a good 40 some odd years of working my butt off, I’ve finally come to the point where I can gladly look forward to my retirement.”Golden Years” some call it, yet is it really golden I ask you.I’ve known a lifetime of work and start to experience stir-craziness when I have a few days to be home relaxing.  I think the next years will be an interesting learning experience to say the least.

But with that being said, I was taught as a kid entering college a few very particular lessons that I still haven’t forgotten to this day.  The biggest lesson of them all, though, was that of financial security and well being.  Up until these days, all my focus has been on making sure I nest egg away enough cash to keep me going in my retirement days.  Now that those days are upon me, though, I need to shift focus to other things.

I don’t contribute to a 401K any more, rather I will be emptying one out, which certainly will be odd.  I took that as my cue, though, to set myself and my family up for my own well being and theirs.  I hate to say it as it sounds a little creepy to me but the reality is that we all pass on when it’s our time and I wanted to make sure that my family wasn’t stuck with my financial burdens when that day comes.Dealing with the extras that are added on was the hard and unexpected thing about my parents passing, funeral expense, medical bills debts they had, and even legal fees.

It was not only the last thing on my mind but truly the last thing I wanted to deal with at that moment so I’ve decided to do a little research on how to keep my family out of that mess when my time comes.  For that, I’ve found the one simple solution and it’s known as final expense insurance.Truly, final expense insurance is what I have been seeking.I have it organized to cover all my current debts, which I hope to eliminate before I pass, and to leave small bequests to those that stick around after I’m gone.  It’s truly a great thing to know that I’m relieving my family of undue stress.

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Final Expense Insurance – A Great Plan For My Future

Sunday, June 28th, 2009

Now that I’ve retired I’ve shifted my focus as well.  For many, many years now, I’ve poured my money into a 401K to prepare myself for this day and now that this day has arrived, I’ve decided to take my financial security outlook into the future once again.

I wanted to be certain that my family was protected when my time came.The very last experience a family member should have when faced with the loss of a loved one is the additional burden of expenses, so made myself responsible for finding a way to help.

Then I found final expense insurance.  It is exactly what it sounds like.  It’s an insurance policy that I have taken out that insures that when my time comes, my family will not be left with the tab.

I’m in good health at the moment and have a minimum of debt, yet nearly 60 years of experience has taught that there are a few curveballs still to be expected still s.  And as medical care costs only continue to rise, even my last few days could place a heavy financial burden on my family.

By taking out a policy for final expense insurance, I know I have them covered which puts my mind at ease.We’ve seen the ads on television talking about funeral costs and so on, but they are a load of rubbish.

Out of curiosity I looked into funeral prices only to find there are no recent, solid numbers to be found.  And furthermore, those insurance programs don’t offer my family the level of protection that I truly felt they deserved.  Even if I had opted for something like a burial policy, what about the rest of my expenses?

I think it’s fair to say that none of us know when our time has come so it’s not something that we can easily prepare for.We can’t say to the utility company “Please shut off the electricity on the 21st as I won’t be needing it any more”.

Truthfully I expect to be breathing for a good long while.  But by taking out a line of final expense insurance, I know when my plan finally fades, my expenses won’t be rolled over and onto my loved ones.By itself this means that it is more valuable than any other insurance I’ve carried.

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How Great Is Your Burial Expense Insurance

Wednesday, June 3rd, 2009

To better care about the well being of your family, you need to do something about your final expenses once you die. The way this is done is with final expense life insurance.

Insurance like this which provides for all of your final expenses is permanent insurance, meaning there are no term term limits to worry about. You do not have to commit to a term of 10 to 20 years and then have to pay a higher premium if you want to be covered for a longer period. This is for a finite time – your lifetime – and carries a premium that is fixed.

The Ideal Insurance Should Have
There are certain items that make up a high quality life insurance policy. When looking for way to cover final expenses, in addition to policies your already possess. you will want affordability. For instance, you do not want a policy that is going to be higher in cost just because you are higher in age. You should be between fifty-five and eighty years of age to be guaranteed coverage.

Guaranteed coverage means that you will not be turned down for coverage, even if you are 80 years old. his is a rare find as many insurance companies require medical exams or have age limits for coverage. Those who do not own any insurance policies, or have limited amounts, could be in a very difficult circumstance if policies were not available late in life. Actually, this would place the family in the difficult situation because the family would be the ones burdened with the expenses.

Another issue is that many policies don’t vest for two or three years before benefits will be paid. This is a problem if the insuree passes away prior to the end of the vesting period. This means that premiums have been paid, but no coverage issued. This also can put your family in a difficult position. They know the policy exists and they think that they are going to receive coverage, but they find out that it was not time for the coverage to go into effect. Panic can ensue.

What You Must Do
You may have to answer some health questions because, if you did not, the final expense life insurance company would be taking quite the gamble. However you won’t be required to take a lengthy medial exam as some policies require.

Your next step is for you to acquire a free quote so that you can see that a life insurance policy that takes care of your final expenses is not an expensive one. Forget the idea that a policy purchased at the ages from fifty-five to eighty must be excessively expensive. You should not be discriminated against because you are older.

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