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The One Mistake Most Seniors Make When Choosing Final Expense Insurance

The thought of our own mortality becomes more prevalent. You may start to think about what will happen to your loved ones when we’re no longer around..

This is why, many seniors opt for final expense insurance to ensure their end-of-life expenses are taken care of.

However..

There’s that one mistake that most seniors make when choosing final expense insurance that can leave their loved ones with more burden than relief.

 

 

The mistake is…

choosing the cheapest option available without considering the coverage and benefits included.

 

Many seniors are on a fixed income and want to save money wherever they can, but this mentality can backfire when it comes to insurance.

 

Cheaper policies often have lower coverage limits and fewer benefits, which means loved ones may have to pay out of pocket for additional expenses that the policy doesn’t cover.

 

What is Term Life Insurance ?..

Term life insurance provides coverage for a specific period, while final expense insurance is designed to cover end-of-life expenses, such as funeral costs and medical bills.

Final Expense Insurance..

Final expense insurance is typically a smaller policy, with coverage limits between $5,000 and $40,000.

When choosing final expense insurance, it’s crucial to consider the coverage amount and the policy’s benefits. Some policies offer additional benefits, such as assistance with funeral planning or grief counseling for loved ones.

These benefits can be invaluable during a difficult time and should be factored into the decision-making process.

That is why it is very important for you to understand properly your benefits if you opt to get your final expense insurance.

 

 

Most policies require some form of medical underwriting, and pre-existing conditions can affect coverage and premiums.

At Elite Insurance of Merrillville we offer NO MEDICAL EXAM !!  

Lastly, it’s essential to choose a reputable insurance company with a strong financial rating.

Avoid these mistakes!! Book an appointment today and get your FREE Consultation.

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