Yes, you may be able to purchase a burial insurance policy on a member of your family.

In fact, many people do this each day, when they purchase a burial insurance policy on their elderly parents to make sure there is money available to pay for their parent's funeral and burial expenses.

In order to get burial insurance on another person you need insurable interest on that person, and the insurer may or may not require the permission of the person you want to insure.

Usually, insurable interest ...
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Are there ways to lower your cost of life insurance coverage?

Yes, in fact, there are several tips you can follow which may help you lower your premiums for life insurance, including:

• Compare rates from several different insurers.
  
• Choose an annual premium payment option.
  
• Quit smoking because smokers pay much more for coverage.
  
• Buy coverage while you are young and healthy.
  
• Take the medical exam instead of buying guaranteed coverage, if you are healthy.
  

Here's how you can learn more ways to reduce the...

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Is it possible to make a claim for benefits on more than one life insurance policy?

Yes, in fact, you may claim as many life insurance policies as you are named beneficiary, after the passing of the person insured. by the policy.

So, if you are named beneficiary on a life insurance policy of your parent, and on a policy of your spouse, you can make a claim on the death benefits upon the passing of those people insured by the policies.

Learn more about claiming life insurance on multiple policies.
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Is there life insurance available for seniors with guaranteed approval?

Yes, some insurers do offer guaranteed issue life insurance for people ages 45-75, 40-80 or even 45-85, depending on the insurance company.

Guaranteed issue means you cannot be declined for coverage due to a health condition.

And, there's no health exam required to get insured. In addition, there may be no health questions asked.

However, there are usually limited death benefits (graded benefits) the first two years you are i...
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What is term life insurance and how does it work?

Term life is life insurance that lasts for a specific period of time, usually up to 30 years.

Most insurers offer term life plans for a duration of 10, 15, 20 or 30 years. The longer your term, the higher your annual premium.

If you pass away during the term of your policy, while your coverage is "In Force", the insurance company pays out the death benefit to the beneficiary of your policy.

If you outlive the duration of your term policy, the insu...
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Is it possible for elderly people to get life insurance if they are over 80 years old?

Yes, there are permanent life insurance policies available forepeople ages 45 to 85, that offer guaranteed approval for coverage. 

That means, you cannot be denied life insurance due to a health issue if you meet the age requirements for acceptance.

These guaranteed plans come with a graded death benefit, so you won't have full coverage until you have been insured by your life insurance policy for at least two...
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A term life policy with conversion means you have temporary (term) life insurance and that policy offers the option of conversion to a permanent life insurance policy by a specific date listed in your policy - the time by which you must advise your insurance carrier you want to convert your policy to permanent coverage.

If you decide after buying your term life plan that you need your life insurance to last your entire lifetime, then you may want to convert your insurance to permanent coverage...
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What is the cheapest life insurance available for young adults?

That would be term life insurance which offers temporary coverage lasting for a "term" of 5 years up to 30 years, usually.

You may be able to choose term life coverage for a period of 5, 10, 15, 20, 25 or 30 years.

The shorter your "term" of coverage, the lower your annual cost for the life insurance policy.

Term life is there cheapest life insurance because it is temporary and it does not build any cash value inside the policy - it ...
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If I purchase a life insurance policy can I use my credit card to pay for it?

That depends on the insurance company and what payment options they offer.

Some insurers offer you the option to pay by using ETF (Electronic Funds Transfer), debit cards or checks.

There are some insurers who offer you the option to pay annual premiums using a credit card, by fewer who may offer monthly payments using credit cards.

Make sure you consider annual premiums payments as this may save you some money. Also, i...
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If you have an elderly grandmother who is on a fixed monthly income you may be wondering if she has enough money saved to help pay for her final expenses. And, you may also ask yourself if you can buy life insurance for your grandma?

The answer is "YES", you can.

Many adult grandchildren purchase life insurance plans for their grandparents to make sure there is no financial stress in paying for their grandmother or grandfather’s funeral and burial expenses.

Did you know the average cost of a f...

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