You are now beginning your closing chapter in life and you want to make sure you are not a burden to those you love and will leave behind.
Senior Life Insurance can help you write your closing chapter. Life insurance for seniors allows you many options to help write that final chapter.
Knowing your options for senior life insurance prior to speaking to an agent will help make decisions easier and less stressful.
Myths about Senior Life Insurance
Very difficult to get insurance at my age - Not true if under the age of 89. Just because you are on medications and may have a disease that is being controlled by medications doesn't disqualify you. There are burial and final expense plans that have limited or no underwriting questions at all.
Too Expensive - The premium cost of life insurance is proportional to the amount of coverage, type of policy, and guarantees and riders placed on the policy. You can find preferred underwritten policies that can give big discounts for healthy seniors.
Medicare will pay for my funeral - Medicare does not assume costs for any burial expenses. Social Security will give the family a one time check of $255 upon the death of a family member. All other expenses associated with funerals are paid for by those left behind.
You must first determine what your Senior Life Insurance will be used for and what are your biggest concerns.
Start by identifying your immediate needs for coverage
Funeral - Burial Expense
Mortgage Loan, Auto Loans, Credit cards
Possible Medical expenses, (In-home care or nursing care)
Additional costs not covered by Medicare
Tax consequence - sale of property
Look at wants you may wish to provide
Grand children - College fund
Nest egg for immediate children
Pay travel costs for family members to return home
Church or favorite charity
Once you have established what your absolute needs are write it down and place a dollar value on what that would cost today. Now it is time to look at what you may want, or would like to provide, in addition to what you consider absolute needs. Write it down placing a dollar amount to that want.
Now you will have an idea in how much Life Insurance you may need.
Need help? Call Mintco Financial at 813-964-7100 or go to http://www.mintcofinancial.com/
Mintco Financial is the leading company in Life Insurance for Seniors and can help you to find a policy ( up to 89 years old depending in which State you live)
Call now 813-964-7100 or www.MintcoFinancial.com