When you are signing a contract, you want to know all the terms, agreements, policies and other information regarding the contract. It’s actually a no-brainer if you didn’t even read and just signed it.
The great thing about insurance is that insurance agents will talk to you briefly about the policy and what it entails. You will go all over the contract and each statement will be clarified and at the end before you will be asked to sign, the agent will ask if there are questions and clarifications that you want to raise.
Even in final expense insurance, the holder will asked for any questions. These are frequently asked questions lf new policy holders.
What Is The Final Expense Policy?
If you wonder what is this insurance, it’s just the same as senior and burial insurance. There are some insurance companies that differ in the terminology but the meaning is the same. This is an insurance that you can use for your funeral service. It covers all your burial expenses when you die and the remaining amount is given to you bereaved family. More information on burial insurance for seniors on choice senior insurance.
What does the policy covers?
It’s a lifetime policy. Unlike any term insurance or other insurances that offers a specific length of coverage, this policy will cover your funeral whether you want a traditional burial or cremation. Nowadays, dying is as expensive as giving birth.
Who can avail as your beneficiary?
Similar to any insurance, your spouse, children and parents are the legitimate beneficiaries. Unless you are an orphan, your known relatives or anyone you want to be your beneficiaries applies.
Is there a specific time frame for the policy to mature and expire?
As previously mentioned above, having a lifetime coverage is its biggest feat. Its premiums are not limited by term agreement.