Baby Boomers Need Final Expense Life Protection
As a baby boomer, you may not have considered final expense life policies as an option for life insurance, but you should. According to the U.S. government, 76 million Americans were born between 1946 and 1960. Many of those people are not likely to have significant estates that can afford to pay for the expenses at the time of death. Yet, the investment into this form of life insurance may be an ideal one.
Why You Need Final Expense Life Protection
As a baby boomer, you may be planning to retire in the next few years. Retirement is costly for most baby boomers since many do not have pension plans, nor significant retirement accounts to pay for day-to-day expenses. This group of people is working longer because they need to. More so, many are relying on Social Security as an income. Unfortunately, that may not be enough to live the lifestyle they had hoped for.
What will happen to you when you die, or when your spouse dies? How will the remaining spouse pay for the following?
Expenses related to those final medical costs, such as hospital stays and emergency procedures to extend life
Expenses necessary to purchase cremation services or burial plots
Expenses which are necessary to pay for funeral arrangements, even as the average cost of an American funeral rises to above $6000
In addition to this, you may have a mortgage loan that still requires monthly payments or debts that have not received settlement. This could leave the other spouse in a very difficult financial situation. Many of these expenses are avoidable, though, with the investment into a final expense life policy.
How It Works
A final expense life policy will pay a death benefit at the time that you die. You will list the person or people that you wish to be the beneficiary of the policy. This is the person who will receive the payment, shortly after you die. The funds from this policy are available to use to pay for any debts you may incur. It is an ideal policy to cover the costs mentioned above, or others. You can even use the proceeds from this type of policy to make a significant contribution to a church or other charity, if that is your wish.
Baby boomers need to have some type of financial tool to help protect their estate and those they level behind, even after they have died. There is no way of knowing when you will die, nor how much debt or expenses you will incur prior to that time. With an effective final expense life policy, you can be sure that your family is cared for no matter what those final costs are.
Policies are available for as little as $3000 to more than $50,000, depending on your particular needs and your financial obligations. Consider what it means to your family to know that they will have the money necessary to provide you with the funeral you deserve.
FILL OUT THE FORM AT RIGHT to learn what suitable policy might cost you. There is no obligation.