No one likes to think about their deaths or time of existence where they will not be part of their family’s lives and certainly not the economics revolving around their death. Death may be an uncomfortable topic to talk about or discuss but you should if you wish to be rid of all economic stress that centers around it. “End of life insurance” or “final life insurance” or “whole life insurance” are just marketed terms to sell an insurance policy that have funeral expenses added to it, that is that it covers all bills, service expenses, purchases of caskets and the rest.In other words it is affordable, cost efficient and easy to understand. This also mainly extends to senior citizens.
Ø Benefits to end of life insurance
– Policy won’t be cancelled due to age or health.
– Your monthly premium instalments are very cost efficient and will never increase but remain consistent.
– Your death benefit will never decrease and it will only benefit your loved ones after you’ve passed.
– This policy plan lasts your whole life hence the whole life insurance.
– Simple applications, with straightforward questions that you can easily understand and answer.
– There will be no medical exams, that means you can apply for insurance either way.
– The premium payment is like clockwise either annual or yearly.
– You beneficiaries will receive that insured cast payment that will cover all the expenses.
– You’ll only have to pay a fixed amount of money to buy the policy.
As this insurance does not require any life altering in puts it is generally garnered toward senior citizens who no longer require any term life insurances and so they can easily apply for it without having to worry about expenses and costs.