If you are over 50, and sometimes over 45, you have probably been approached with an offer for a burial insurance policy. Many people think that these are affordable ways to plan for the high expenses of modern funerals, but many consumers do not really understand what they are buying. In essence, a burial insurance policy is a whole life insurance policy with a fairly small face value ($2,500 – $25,000).
Furthermore, since life insurance companies understand that they are marketing life insurance for middle aged or senior citizens, so these policies are usually either simplified or guaranteed issue!
What does this mean? It means you can get a policy with very little hassle, and also even if you do have some medical issues.
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[...] CloneRich: Financial or Loan Problem,Make & Save Money Resources wrote an interesting post today onHere’s a quick excerptBurial Insurance Policy Primer March 3rd, 2008 If you are over 50, and sometimes over 45, you have probably been approached with an offer for a burial insurance policy. Many people think that these are affordable ways to plan for the high expenses of modern funerals, but many consumers do not reallly understand what they are buying. In essense, a burial insurance policy is a whole life insurane policy with a fairly small face value ($2,500 – $25,000). Furthermore, since life insurance compan [...]
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