subject: The Importance Of Life Insurance For Seniors [print this page] Life insurance for seniors is just as important as it is for anyone else. There are a variety of reasons that you, as a senior, would benefit from life insurance, not the least of which is to be sure that your estate is taken care of in the event you should pass on. Death is never a happy subject, but it is one we are all going to face and one that we should all be well prepared for.
Chances are you have got outstanding debts like a car, a home, credit cards. Your life insurance benefit can be used to pay those outstanding bills so those you leave surviving you would not have to stress about them. Maybe you have been left in the position before. A close family member passes away. You are left to deal with your own grief, their funeral arrangements and they are hardly buried before the bills start coming in. Credit cards you did not know they had, subscriptions they had not cancelled and the medical bills. Your debts do not die with you, unfortunately. Someone is expected to foot the bill, and if you do not have a large amount of money stashed away or life insurance for seniors, your survivors are left to foot the bill. Another excellent reason to have life insurance, even if you have no debt, is to ensure that your funeral costs are covered. Let us say you have got everything all in a row, you have divided your estate among your heirs and all your debts are paid. The only thing left is to pay for your funeral expenses. Unfortunately, you would not be around for that. You can do your family a huge favor by having even a small life insurance policy, specifically to cover the costs of your funeral. An average funeral can cost $5-6,000 easily, and you want to be sure your family would not be stuck with that bill. A life insurance policy to cover your funeral expenses would likely be a very small payment every month; well worth the peace of mind that you are helping your family cope with your passing.
These are just a couple of reasons to get life insurance for seniors. Your decision to do so can help your family get through what will be one of the hardest times of their life, all thanks to your generosity and planning. By purchasing life insurance for seniors, you are ensuring that your survivors will get through as comfortably as possible, and that no one is hampered by nagging debts left by your funeral arrangement. This will allow your family to focus on their own problems; celebrating your life and grieving your loss. It will also help to prevent any family in-fighting that can sometimes occur during these hard times.
by: Katherine Smith
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