final expense life insurance Archives - Page 3 of 3

Why Single People Need Life Insurance Too

When many people think of life insurance, they think about buying it as security for the families who rely on them. While life insurance is definitely something that everyone with a family should have, this doesn’t mean that single people don’t also need life insurance. In fact, there are multiple reasons why single people should consider getting life insurance! Odds are, many single people will have one the following reasons for getting covered.

You have student loans

graduation cap on top of stacks of hundred dollar bills — *If you have private student loans, then it can fall on your parents or other cosigners after your death.*

Did you know that the average American owes almost $40,000 in student loan debt? When taking out a large loan such as one to pay for your education, more often than not you will need a cosigner to secure the loan. And, while federal student loans are discharged when you die, that is not the case for private loans. If you pass away, you will leave your parents or other cosigner on the hook to pay that money back.

You have other debts with cosigners

Student loans often have cosigners, but you could also have another type of loan that a parent or someone else has co-signed. For example, when you first started out after high school or college, you probably had no credit and needed a cosigner for any loan you needed, such as for a car or house. Anyone who co-signed your loans will be responsible for those debts even after you are gone.

This is an excellent reason to get life insurance – you don’t want your debt to turn into their debt! Term life insurance plans are a good choice, because you can take out these policies for the same amount of time that you will be paying back your loan. For example, if your loan has a payback period of 10 or 30 years, you can get a term life insurance policy to cover you during that time.

You own a business with a partner

silhouette of people shaking hands with gears in the background and the word partnership — *If you own a business with someone, you can help keep the business going with your life insurance money.*

If you plan to start a small business, or are currently running a business, you will probably have or need to take out small business loans to help it grow. If you have a business partner, your death would put a lot of financial strain on them, because they would need to take on the entirety of those loans. Life insurance would help keep your business going, and keep your partner out of debt, by replacing your share of the capital.

You plan on having children someday

If you know you want to have children in the future, it is best to take out a life insurance policy when you are young and healthy so you can get more coverage at a lower price. Planning ahead in this way will ensure that your future children will be taken care of. Remember, when you take out a life insurance policy, you can always add beneficiaries to it later, so you can be certain the money will go to them.

Your family has a history of health issues

If you have a family history of a serious health condition, such as heart disease or diabetes, then there is a chance you will be diagnosed with that condition in the future. Consider getting a life insurance policy when you are young and healthy, so that any pre-existing conditions will not prevent you from getting a good plan with low rates.

You want to cover end-of-life (final) expenses

white casket with white flowers on top of it in a car — *Final expense life insurance will help pay for your funeral, and other debts you may have when you are gone.*

It’s a hard subject to talk about, but eventually everyone will pass away. When that time comes, it will be emotionally tough for your family, and it could also end up being financially tough for them if you do not have a way to help them pay for your final expenses. Funeral expenses can cost anywhere from $10,000 to $15,000, an amount that many people just don’t have on hand. This will leave your family scrambling, trying to come up with the money to bury you as well as cover any other debts you might have. Final expense life insurance policies are inexpensive and can help your family at this difficult time.

There are many different kinds of life insurance policies to consider. Final expense life insurance is best for the end-of-life expenses, and is inexpensive. Term life insurance is a great option for a single person with loans, because you can choose a term that suits your specific needs. Speak to an agent to help you decide what kind of policy is right for you, both now and in the future. Below are some of the top-rated insurance companies in the country, all of which offer affordable plans specific to your needs. Look into rates today so you can protect your future.

Getting Life Insurance & Preparing For A Medical Exam

If you’re shopping for a life insurance policy, you are most likely searching for a great rate. But in order to determine your premium price, some insurance companies will require you to undergo a medical exam before you buy. They do this in order to figure out how much of a risk it is to insure you; the healthier you are, the cheaper your insurance premiums will be. There is no need to be nervous about this medical exam, even if you have pre-existing conditions. Before undergoing your medical exam, there are ways that you can prepare, so you can get the best possible rate.

What To Expect

a man sitting down getting his blood pressure checked by a doctor — *During a life insurance medical exam, a medical professional will go over your health history and check your blood pressure.*

Life insurance companies usually require a physical in order to get a full view of your health history, family history and lifestyle habits. In most cases, a medical professional will come to your home and ask questions and collect samples. First, you will be given a verbal questionnaire which will include questions like: Are you a smoker? Do you have any chronic conditions? How often do you exercise? Then they will measure and weigh you and take blood and urine samples. After they collect this information, they will use it to help them determine your rates for coverage.

The whole process takes about 20 minutes. It is important to be as truthful as possible when answering any questions the medical professional asks you. For example, if you omit the fact that you are a smoker, and the insurance company later finds out that you smoke, they will cancel your policy.

How To Prepare

One Week Before The Exam:

Eat as healthy as possible and avoid processed foods that are high in sugar, fat, and sodium. Instead, eat vegetables, leafy greens, and whole grains. This will help lower your cholesterol.
Increase your water intake and avoid alcohol. Alcohol is dehydrating and will affect your liver enzymes in blood tests, which can be a red flag for insurance companies. Instead, drink plenty of water to flush out toxins.

One Day Before The Exam:

caucasian woman sleeping in a bed — *Be sure to get a good night’s rest before your medical exam.*

Consider fasting for at least 8 hours before your exam. Eating before your blood work will increase your cholesterol and glucose levels
Do not stress out or exercise too much the day before your exam. This will only increase your pulse and blood pressure.
Get a good night’s rest so your vital signs are at their best the next day.

The Morning Of The Exam:

Avoid coffee because it will affect your blood pressure.
Drink water.
Do not wear heavy clothing so the medical professional gets the right reading on your weight.
Have your primary care physician’s info ready, as well as a list of any medications you take regularly.

Getting The Best Rates

Life insurance physical exams will determine how much you will end up paying for your policy. You can get the best possible rates by making some changes to your lifestyle and using the tips above. But you can also find great rates by comparing multiple insurance companies and the policies they offer. To get more helpful information about different types of life insurance policies, and how you can get coverage that fits your budget, take a look below. We have provided information for top-rated insurance companies that specialize in life insurance, so check their rates today and see just how simple and affordable it is to protect your family. Always check multiple sites to make sure you have bargaining power and to know the advantages of each company. Make sure a hard time for your loved ones isn’t made harder by a financial burden, check life insurance rates today.

Final Expense Life Insurance

Final expenses are not easy to talk about, but it is necessary to do so. Funerals can cost $10,000 or more, and this does not include other end-of-life expenses such as medical, legal or credit card bills. Without final expense insurance, these final expenses will fall on your family’s shoulders and strain their finances. But your family doesn’t need to be left with this financial burden: you can provide them with the cost of your funeral arrangements and more with an affordable final expense life insurance policy.

Final Expense Life Insurance Explained

Final expense life insurance is a type of permanent life insurance that covers the costs of your funeral and burial, as well as any outstanding bills. As long as you pay your premiums, your policy will never expire. There are two types of final expense life insurance policies to choose from:

Guaranteed Issue Life Insurance– You are almost certain to get approved for this type of policy because it provides coverage regardless of health status. These plans are more expensive than other policies, and offer amounts anywhere from $5,000 to $25,000.
Simplified Issue Life Insurance- You can get this type of policy if you are considered a moderate risk. You will have to provide answers to a medical questionnaire, but there will be no medical exam required for this policy. You can get coverage up to $50,000.

Check Out These Discount Life Insurance Options Below! Make Sure You Compare More Than One For The Best Rates!

Advantages Of Final Expense Life Insurance

Putting aside $10,000 dollars or more for funeral expenses is hard for many people to do, especially in today’s economy. Buying an affordable final expense life insurance policy will provide your family with this money. These policies offer peace of mind, and they are easy to get and maintain. The advantages of these plans include: :

No medical exam– You are not required to undergo a medical exam in order to purchase a final expense life insurance policy, which is beneficial if you have any serious health conditions that would hike up the cost of other life insurance policies.
The application is easy and coverage starts immediately after you are approved.
Quick approvals– The application process is quick and easy, and coverage begins immediately after you are approved, which can be the same day you apply.
Lower premiums– Final expense rates can start as low as $20 a month.
Payment flexibility– You have the option to pay monthly or annually.
Tax benefits – The cash value of the policy accumulates tax-deferred.

It is not easy to accept the fact that one day you will no longer be with your family, but it is a grim reality. Your family will go through a difficult time, and the last thing they should worry about while grieving is how they will pay for your funeral and end-of-life expenses. You can give them at least financial peace of mind with a final expense insurance policy. There are multiple affordable policies to choose from that you can budget into your monthly expenses, and you do not have to worry about passing a medical exam.

If you are interested in providing your family the financial stability to pay for your funeral arrangements and more, then a final expense life insurance policy is perfect. For low monthly payments now you can make sure your loved ones are taken care of later. Picking a Final Expense Life Insurance policy is an important decision. You want to make sure your family is taken care of when you’re gone without getting tied to a policy that is going to be a financial burden. There are multiple coverage options, some with added benefits. To make the process easier consider using online tools, or speaking with an agent. We have provided the top Final Expense Life Insurance companies in the nation that offer hassle free assistance and the most competitive rates below. Always check multiple sites to make sure you have bargaining power and know the different advantages of each company. Make sure a hard time isn’t made harder by a financial burden, check Final Expense insurance rates today.