Burial Insurance For Seniors 2020
In 2020 there are consistently lower costing, higher-rated life insurance companies that fall within the category of those providing burial insurance for seniors. This article is going to largely address burial insurance policies for seniors and provide some hints and tips to help you move forward through the years and be in the best position possible to protect your family from having to pay from their own pockets the cost of burying or cremating you when you die.
As we all know too well, this year has been an extremely stressful year for families and individuals around the world due to the medical and physical threat created by the Coronavirus pandemic.
Seniors are especially vulnerable and the death toll for that segment of the population continues to expand exponentially. Now more than ever it’s most important to have burial insurance coverage in place because of the likely hood of dying from such diseases as corona virus has drastically increased.
This article will cover burial insurance options from the least expensive to the most expensive burial insurance policies available.
What is Burial Insurance for Seniors?
Burial Insurance is a type of life insurance, whole life structured policy structured for those aged 55 to 85. If you’re looking for a policy that’s going to cover your cremation, burial, funeral costs; provide for a financial gift for your descendants, transportation for anyone, transportation of the body, for the funeral parlor, for your loved ones to come out for your service, burial insurance will cover any of those things and any other possible expenses you can think of that you would want to build into the policy. That’s burial insurance for seniors
Choosing a Highly Rated Life Insurance Policy
The companies that tend to be the top companies that provide the best service, prices and coverage are going to be companies that have a high rating. That is what defines which ones are the best to work with..
There are companies that specialize in assessing life insurance companies and rating them for performance, longevity and solvency.
They assign a rating to these life insurance companies. This writing this rating is very, very important. It has to do with financial solvency, has to do with reliability. It’s not a review.
It’s an actual professional, official rating and it can be an A-rating, an A plus, A minus rating or well below that, either a B or C-rating.
What you want is a life insurance company that’s going to provide a minus or above rating that says a lot about a life insurance company.
That’s step one. You want to make sure that you have a high rated company and the way that you do that is you connect with a broker agency that has access to a the highest-rated life insurance companies and they choose from those.
Choosing an Agency or Brokerage Firm
How do you pick a good agency?
If you chose us, Protect With Insurance, obviously that would be great! We’d love to work with you. But you want to pick your own life insurance agency, make sure that they’ve been around for a while. You want to make sure that their reviews and ratings are excellent. You can easily do this by looking at websites.
Does it look like an established professional website? Does it have a list of where they’re located. Is there any indication of how long they’ve been in business? Do they have a competent blog section? Believe it or not. Nowadays, that is key. If they do not, it shows that they’re hiding something.
Typically, they should have at least 20, 30, 50 blogs and they should be recent. It shouldn’t be blogs from a year ago. It should be that they’re writing blogs as a resource for their clients. They’re doing it now. They’re active now. They have experience. They have competency that is backing what they’re doing.
They’re not trying to take your money. They’re trying to offer resources. They’re trying to offer help. They’re trying to reach out and help people. So you want to look for a very competent, very thorough blog section in their Website that’s going to address all the things that are of interest to you, for the type of policy that you need.
That’s very, very crucial. It’s important to pick a solid agency. Now, once you’ve done that, you’ve confirmed with them which companies they pull from, and you can easily double check and make sure that the ratings on those companies are solid and here’s one great way.
If you type in and Google type in the name of the couple of agencies, let’s say it’s a Mutual of Omaha Life Insurance rating and search for a professional rating company like M&M and others like that.
Again, you are looking for a life insurance company that has only the highest ratings. You don’t want one that has a rating lower than A-.
You only want the best and we work only with the best life insurance companies out there so you know that you’ve got an agency that’s going to be pulling high rated companies.
Getting the Best Price on Life insurance
The way you get the best price, especially in 2020 this is very, very essential, is choosing a life insurance broker that is going to shop all of those companies for you based on the information you share with them.
The agency will ask you a lot of questions so that when they they’re searching for you, they have the information to search in the best way possible. You want them to be looking at all the A-rated companies out there. They’re going to pull up all their prices and then whichever one offers the lowest price and best coverage, that’s going to be what you should go with.
If you’re looking at a $5,000 policy, a basic kind of cremation for someone that is 55, if you’re a female, you’re going to be usually around 20 bucks plus or minus per month. If you’re male, it’s going to be just slightly above that.
Men have to pay more than women and the reason why is that statistically, men live five years less than women do.
That is the statistical average. So that’s what these companies go by and it just makes sense if you think about it. Men are always going to be a little bit more and it can be 5%.
It can be 20% more. It depends upon the category of the life insurance that you’re looking for. If you are in your seventies, it’s going to tend to cost about, 50% more, possibly more than that. Sometimes it can be double the cost depending if you’re a nonsmoker.
Companies that tend to give the best pricing, like Mutual of Omaha, are at the top of the list. They are an excellent company. They don’t always give the best price. It depends upon your age and depends upon exactly what your category is. But they are excellent. Transamerica is another excellent company. Another great company, American Amicable Life Insurance, is fantastic. If you have health issues, even severe health issues that are keeping you from getting the absolute highest or at least average health rating, then you’re going to want to look at a company called Gerber Life Insurance.
These are the things that a competent broker/agency can do for you. They will do all the heavy lifting for you. They will find the best policy for you with the best life insurance company they can find that will give you the best coverage to meet your needs at the best price.
A competent and established agency, like Protect With Insurance, will consider your health, your age, and your gender and go out and farm every A-rated life insurance company for you and find the best deal policy for you within your budget.
They can pull all of these options for you at one time. You don’t have to reach out to these companies. In fact, all of these companies would say the same thing. You would need to have an agent assigned to you.
So rather than having one agent for each one of these companies working to find the best deal for you for you individually, you will get the exact same results, even better, with a good independent brokerage, a good agency that will try all these companies and get the exact same pricing as if you went to the companies directly.
They will be able to compare all of these for you and find the best options.
We at Protect With Insurance pride ourselves on our ability to find you the best and most comprehensive burial insurance coverage and the lowest price possible.
We are known for our excellent customer service and dedication to our clients. We are there for you from the beginning of the process to its final completion, that being where you have the security of knowing that if you die, your funeral expenses will be covered and your family will be protected against the costs of burying you.
We hope that has been helpful. Please let us know if we can do anything for you. Click the link below. If you have specific requests on questions for future videos, just let us know and we’ll do our best to answer them all.
Looking forward to hearing and working with you.