Best Life Insurance Seniors No Exam in New York
Many seniors think that it's too late for them to buy life insurance, but that's not the case. No exam policies allow you to skip the medical exam and still get coverage.
By: Mintco Financial
Final expense insurance is another type of insurance that's specifically designed for seniors. Unlike other types of life insurance, in which the beneficiaries can use the death benefit however they want, the death benefit from final expense life insurance is designated to cover the policyholder's final expenses. This can include funeral and burial costs, and any other medical costs that might be incurred toward the end. The average funeral can cost between $7000 and $12,000, which means having final expense insurance can save a person's loved ones from assuming a heavy financial burden. In some cases, adult children purchase this kind of insurance for their aging parents.
Final expense coverage can range between $25,000 to $100,000 and policies can be issued for applicants up to 90 years old. Final expense is a type of whole life insurance, which means there is no expiration date. Approval can often be instant after the applicant fills out a short application.
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