When applying for a life insurance policy, age plays an important role in determining both the type of insurance you qualify for and premium price you’ll receive. Although final expense policies are designed for adults who are 50 to 85 years old, you can buy a final expense policy at any age, whenever you think it’s appropriate.
Think about this: If you were to pass away today, would your family have the funds to cover your funeral and other expenses? If the answer is no, you need a final expense policy.
Even though final expense insurance is primarily marketed to seniors, purchasing a policy when you’re younger than 50 offers multiple benefits. For example, with Senior Life, you’re not only protecting your loved ones, but you’re also locking in your premium price for life and securing a better monthly rate based on your current health condition.
Additionally, if you qualify for a policy with cash value, after the value accrues, you can borrow against your policy’s cash value while you’re still alive.
Ultimately, making a decision about final expense insurance requires careful consideration of your family’s needs and financial situation, regardless of your age. The key is to understand that final expense insurance is about providing peace of mind and financial security for your family when they need it most.
Securing coverage earlier can provide better rates and longer-lasting protection. Take the time to evaluate your needs—your family’s financial security is worth planning for.
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