What Are The Differences Between Life Insurance And Funeral Insurance For People Over The Age Of 80?

People usually try to avoid talking about death and we can’t really blame them. It is not exactly the most pleasant topic that one can engage in. However, you have to start thinking about it at certain point of time, for the very simple reason that nobody, not even the healthiest person around, can avoid death. It is in fact one of the certainties of life. Hence, it is better to be prepared for it when the day comes. While young people tend to ignore this truth because of the feeling that it will not come any time soon, the elderly tend to ponder about it more. That is probably why funeral insurance for people over the age of 80 is now available. However, do not confuse funeral insurance with life insurance. They are not the same.

There is a misconception that a life insurance and funeral insurance are the same. However, there is no truth to that. When you talk to an insurance agent, you will discover that the main difference between the two is that with life insurance, you sign an insurance policy that states that you agree to pay a specified amount of cash on a monthly basis to the insurance company of your choice. When your time comes, the beneficiary of your choice will be the one to get the money and the other benefits depending on the type of life insurance that you have.

That is, however, not the case with funeral insurance. Think of it as simply paying for your funeral in advance, while you are still living. It can be a onetime payment or installment, depending on the mode of payment that you choose. However, the moment that your funeral is fully paid for, you no longer have a financial obligation to the insurance company. When your time comes, you can be sure that they will provide every financial aid needed to ensure that your funeral and burial runs smoothly.

Getting funeral insurance is really a smart choice. After all, you have probably experienced the intense pain and grief brought about by the passing away of a loved one. When your time comes, your family will feel that pain. Don’t you want to relieve them of the financial burden of having to pay for your funeral at the minimum? That is a huge load off their shoulders. You can even consider it the last act of your love for them.

With funeral insurance, the whole process of funeral planning is made easier too because the insurance company will handle it for your family. Even most if not all of the expenses will be covered. Typically, it will cover the burial plot, cremation, grave marker, embalming, hearse, flowers and other things that are typically needed for such an occasion. It is a wise investment indeed.

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