Are You Wondering “Do I Need Burial Insurance”?

There’s a huge number of different types of insurance that a person needs. Auto insurance is one of the big ones. If you have a car, then the law says you have to have insurance. Not only that, but there are different kinds of auto insurance. Collision insurance, replacement insurance, all manner of different insurance policies that cover different things.Burial Insurance Coverage

Medical insurance is the next big one. Even there, you have different kinds of policies. Policies that cover medical exams, medication costs, dental insurance, the list goes on and on. Then there’s life insurance, homeowners insurance, renters insurance, there are enough different kinds of insurance that it can make your head spin. Thus, when the question “do I need burial insurance” comes to mind, it might be easy to ignore it. You have enough different kinds of insurance to worry about. There’s no reason to add one more type of insurance into the mix. Especially when you consider the cost of just about any kind of insurance mentioned.

However, you should not pass up this incredibly important insurance! It’s unfortunate, but there’s a simple truth that death is expensive. No one likes to think about death and dying. No one likes to think about how to deal with the world when they’re gone. At most, a person might purchase life insurance. But the cost of a funeral is quite high. It can easily cost several thousand dollars, even tens of thousands, to have a funeral done. The cost of the casket alone can be quite high. Then you have to take into account the cost of the funeral hall, the cost of bringing the family together, it can get astronomical.

Burial insurance can help your family deal with that cost. Just like any other kind of insurance, burial insurance pays out when the contractual obligations occur. In this case, it would be when it comes time to pay for the burial. That way, your family doesn’t have to worry about sorting through the paperwork with life insurance, paying all the various bills associated with however you died, and then worrying about paying all the bills associated with actually having the funeral. You’ll know, for certain, that your family will have all the money they need to deal with your final rest. They won’t have to pay out of pocket, and thus worry about becoming bankrupt.

That can be a powerful fear, what might happen to your family after you’re gone. It’s a fear that’s powerful enough to cause many people to put off preparation. You should avoid that temptation. It’s easy to think that you have years upon years to worry about what might happen when you die, but that may not be true. You never know when a horrible accident could happen, leaving your family with an important bill to pay.

So, what is the answer to the question “do I need burial insurance”? The answer is yes; you do. Otherwise, your family may be left in poverty.

Calling All People Over 50: Life Insurance Is Needed

For people over 50 life insurance becomes an item that is no longer a luxury but a necessity. If you are unsure about buying life insurance we have some reasons you may want to consider a life insurance policy.

Dealing with Living Expenses

As a couple life is indeed much easier to deal with as there is typically two sources of income to meet your needs. However when a spouse passes not only are you left with an emotional void in your life, you now have to worry about making ends meet. While a death is hard to cope with, it doesn’t mean that the bills are going to stop. There will be other expenses that lessen due to the loss of a spouse; that amount barely meets what is still needed. At the age of fifty, life insurance should be a priority that is no longer put off because it is an ulife insurance for people over 50ncomfortable subject.

General Healthcare Needs

A part of growing older is dealing with health issues and declining health. More than likely you know someone who was recently diagnosed with some form of an illness that had been quietly sitting in the background for years. Life insurance for over 50 is one of the ways to deal with the overall staggering cost of medical bills and hospital expenses that can occur to people after the age of 50. By purchasing critical illness coverage, you will be able to cover these types of bills.

Pension Loss

For people over 50 life insurance can be secured against a potential loss of pension or social security. Think for a moment if you are living on a pension and one of you dies, that leaves a very little amount of money to live on. In addition, there is always talk about raising the retirement age which is making life more difficult for older adults. With higher retirement ages, it is going to make life much more difficult for individuals living alone. Life insurance is the one way to make for an easier life after the death of a spouse.

Funeral Expenses

Once a person reaches the age of 50 the chance of death increases with each year making the need for life insurance more essential. Funeral expenses are becoming an increasing burden for the family to deal with. There are a lot of factors that go into creating a rather large funeral bill including the coffin, tombstone, plot, burial, flowers and funeral home services. If the family is looking to honor you with an extravagant funeral, the price is going to rise dramatically. Having life insurance after the age of fifty will cut down the worry of leaving behind a large funeral bill.

Less Financial Stress

For people over the age of 50 and their families having a life insurance policy is one of the best ways to reduce stress and live with fewer worries. Having a large policy can help to pay off any debt you have including mortgages, credit cards, car loans, and any other debt that is left behind. This can be one of the greatest final acts you can do for your family and give them peace of mind that they will not be burdened by your debt. For a moment think how good it would be for your family not to have to worry about paying off a mortgage and not having any financial worries to worry about. It is one of the best gifts you can give to your family.

7. Hospice Care Is Not Covered By Medicare Advantage

hospice-careHospice care is not covered by Medicare Advantage. Original Medicare Part A pays for hospice care even when you get your benefits through a private Medicare Advantage plan.

Also, not all of the same prescription drugs that might be covered under a standalone prescription drug plan will be covered by Medicare Advantage.

8. What is a Service Area?

medicare-questionEvery Medicare Advantage plan has a service area. This is a geographic area where the plan is available and offers coverage. A service area is usually a county, state or region. You must live in a plan’s service area in order to join it.

17. Make Sure Your Doctor Is In The Network For A Medicare Advantage Plan.

doctor-physicianIf you elect to go with a Medicare Advantage plan, make sure your current physician is in the network for that plan. Most Medicare Advantage plans are either PPO or HMO plans, so unless you want to switch doctors, you are going to want to make sure your current physician is part of their network.

30. If You Own A Medicare Advantage Plan, You Cannot Also Own A Medigap Policy

medicare advantageThe Medicare Advantage plan combines traditional Medicare and Medigap coverages. While providing the same coverage as traditional Medicare, a Medicare Advantage plan usually adds in drug coverage and other benefits such as hearing aids or medical equipment like diabetes test kits.