As people age they often let their life insurance go. They believe that since they no longer have children living at home or in college they no longer need these services.
The truth of the matter is, that life insurance over age 70 is just as important as it was when you had children living at home or in school.
Many people reach their golden years having not saved enough money for retirement and other things that may crop up in life. One of these things is their death.
If you don’t have life insurance, your burial is on someone else’s list of responsibilities. Life insurance can give you the peace of mind that you’re going to be buried where you desire, in the form that you prefer.
If you don’t have any form of life insurance, your burial is left up to others who may not have the funds available to bury you. Final expense are well over $6,500 in today’s economy and they’re only going to continue to go up in price.
Many families don’t have that kind of money lying around so they’re left to pool funds and hopefully not have to make payments on your final expenses.
Most mortuaries won’t take payments on burial or cremation so this can present a huge challenge to families. If you have life insurance, your family can afford to bury you or have you cremated.
Life insurance will also provide your family with a means to settle any outstanding debt that you may have incurred in your final days.
Your family loves you and wants the best for you but they may find that without life insurance, they are left doing only what they can afford and not what you deserve.