We found a good article on Burial Insurance Policies For Seniors at BestQuoteUS.com. You see a lot of ads for guaranteed life insurance, senior life insurance, simplified life insurance, and final expense insurance! These are all the same class of life insurance, intended for older people, that is called a burial policy. That is because these are small face value, whole life insurance policies that are designed for the senior citizen market. The policies, basically, cover funeral expenses and other costs associated with a loved one passing away.
Who Buys Senior Life Insurance?
Some senior citizens purchase a final expense policy for themselves, and some purchase one for a loved one. If you purchased a policy like this for your parents, for instance, then they would be the insured people, but you would name yourself as the beneficiary. This is one way to make sure you have the cash to pay for their funeral, travel, and other expenses that would pop up if they passed away.
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