If you're considering life insurance you may be wondering what are some common reasons people purchase a life insurance plan?

Actually, life insurance can do more than you might expect.

Many people buy life insurance to provide funds for their final expenses, or to replace their income for their family.

In addition, life insurance death benefits can help to pay off the mortgage, pay for your child's college education, pay off debt, provide for your family's living expenses, fund your wife's reti...

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If you're looking to purchase burial insurance to cover the cost of your final expenses, you'll want to consider how much insurance you need.

Today, the average burial and funeral costs are around $8,500 in the US.

This total may include common expenses related to a burial including the cost of burial, burial casket, funeral, headstone, hearse, embalming, flowers, memorial service, etc.

Several insurers now offer up to $20,000 or more of burial insurance to cover your final expenses.

These plans ...

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When you buy life insurance, the insurance company develops a premium based on several factors they take into consideration to determine the risk you present to be insured for life insurance.

The type and amount of life insurance are important in determining your premium.

However, the insurer begins with your personal risk factors that affect your longevity - life expectancy.

Risk factors usually include your gender, age, health, tobacco use, location of residence, driving record, height-to-weig...
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Yes, if you are married, you may purchase life insurance on your wife.

Married couples have an Insurable Interest in one another.

Insurable Interest is required if you wish to insure someone else.

Many husbands buy life insurance policies on their wives to replace their income, or to cover the cost to hire someone to perform all of the work a wife may do for her family.

Learn more about buying life insurance on your wife.

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Can I buy life insurance without exams for my parents?

Yes. There are no exam life insurance policies available for adults, which adult children may purchase for their parents.

Many adult children buy life insurance for their parents to cover final expense costs, or provide for the future of their children or grandchildren.

There are guaranteed issue no exam life insurance policies available for people ages 45 to 85.

So, even if your parents have health problems, or they have been denied life ins...

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What are the best insurance companies offering funeral insurance?

When out comes to funeral insurance, there are several highly-rated insurers offering plans, including United of Omaha, MetLife, Colonial Penn, AIG, Fidelity Life, and Gerber, among others.

Keep in mind, many of these plans offer guaranteed approval for anyone who meets the age requirements.

However death benefits may be limited the first 2 years you are insured.

Learn more about comparing funeral insurance companies online.

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Is there burial insurance coverage I can purchase for my parents?

Yes. There are burial insurance plans available from several different insurance carriers, including United of Omaha, Gerber, AIG, MetLife, and Colonial Penn, among others.

And, adult children may purchase burial life insurance on their parents, because they have an insurable interest in their parents, which is required in order to buy life insurance on someone else.

Most burial insurance policies offer guaranteed acceptance for a...

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Funeral insurance is a type of permanent life insurance plan that provides a limited amount of insurance to pay for your final expenses, including the cost of your funeral and burial.

Usually, these funeral plans are guaranteed issue, which means you will not have to take a health exam or answer any questions about your health.

Many funeral policies offer from $3,000 up to $20,000 of life insurance protection.

Approval for funeral plans may be guaranteed, but the age requirements for guaranteed ...

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Can people over seventy years old get insured for life insurance?

Yes. In fact, people over 70 may be able to choose from term life, whole life or guaranteed issue life insurance plans.

Term life is temporary coverage offering life insurance lasting for a term (duration) of 5, 10, 15 or 20 years for people over 70.

Whole life offers lifetime protection, builds cash value inside the policy over time, and costs a lot more than term insurance.

Guaranteed issue life insurance offers guaranteed covera...
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Yes, adult children may purchase life insurance plans on their parents.

However, if your parents are old, they may be in need of guaranteed issue life insurance coverage, especially if they have health issues, or they are over 75 years old.

Guaranteed issue policies guarantee your parents acceptance for coverage regardless of their health.

Learn more about how to buy life insurance for elderly parents.

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