It can be one of the most difficult decisions facing a person’s life. When you’re gone, who will take care of the arrangements?
Unfortunately, the thought of dying is almost a guaranteed certainty for everyone. What happens after you pass away is an important thing to plan for, especially when your health isn’t the best.
Fortunately, AARP burial insurance for seniors is a great option. But how is it different than regular life insurance for seniors?
We’re glad you asked! Read on for everything you need to know before buying a policy. Let’s get started!
Brief Overview of AARP Burial Insurance
This type of insurance does not require any waiting period or health qualifications as it is based on age only. Ranges of coverage and premiums are available to best fit the senior’s budgets.
Additionally, it offers the flexibility of one-time or annual payment options. However, it is important to note that this type of insurance is not an approved Medicare plan.
This means that the benefits do not cover pre-existing conditions or prescribed medications. To get the best coverage, it is wise to read the burial insurance reviews, especially those offered by AARP.
Eligibility Requirements for Coverage
It pays out a death benefit to cover burial expenses, helping family members cover funeral costs. To be eligible for AARP burial insurance, applicants must be:
- At least 50 years old
- United States citizen
- Must have the qualifying premium amount paid
- Satisfactory evidence of identity
- Acceptable health condition
Other insurers may have further eligibility requirements related to age, health, or payment options, so it is important to check with the provider beforehand. Understanding the basic requirements can help make the process of selecting a plan much smoother.
Potential Benefits and Limitations
This type of insurance can provide additional funds that can help ease the financial burden that often comes with end-of-life planning and decision-making. The potential benefits include:
- Financial peace of mind
- A range of coverage options
- Secure payment options
- Secure policy coverage
However, there can also be limitations that should be considered when considering AARP life insurance for seniors. These limitations include age restrictions, pre-existing condition exclusions, and the amount of coverage that you can receive.
It’s important to consider all factors carefully before deciding on the best burial insurance plan for your needs.
Outline of Burial Insurance Costs
The cost of this type of insurance varies depending on several factors, such as age and health. The rates of these policies are generally lower than with traditional permanent life insurance, but they may increase over time.
Also, some policies include extra services that may be relevant if the policyholder passes away, like grief counseling services or transportation costs. It is best to speak to an insurer to make sure that the policy, benefits, and premiums are right for you.
A Brief Guide to AARP Burial Insurance for Seniors
AARP burial insurance for seniors is a great affordable option, offering coverage to help with funeral and end-of-life expenses. With no medical exams, low monthly premium payments, and flexible policies, it’s worth considering for a bit of peace of mind.
If you’re ready to get started, contact your local AARP representative today!