Nobody likes to think about the end of life. And yet, many seniors, and their families, are choosing to plan for the end of life. They know that funerals are expensive, and that funeral home usually need to be paid right away. They also know that this sad time will mean losing time from work, settling debts, cleaning out a home, and many other things that will require money.
Have you ever been summoned by the family to assist financially with a loved one’s closing life expenses? If you haven’t, you have truly been blessed. If you would permit me, I would like to share three accounts of some loved ones with diabetes, one prepared the other two ill-prepared for their closing acts.
You can make sure that you have left enough money to pay for a funeral, settle debts, and even leave your spouse or children with a little extra money to remember you by. Most senior final expense program are written in amounts of $2,500 to $25,000.
Secondly, pay close attention to your mouth. Diabetes can cause gingivitis or even periodontitis to creep into the teeth and gums and create difficulty.
Otions 2 and 3 are much better choices. But, which one is the best. If you decide on Option 3 and go down to your local funeral home, you can purchase your entire funeral and burial in advance. This can be costly. A funeral can easily exceed $10,000. If you don’t have that kind of money to buy one up front, the home will generally allow you to make payments for a year or two on this. If you were to unfortunately pass away shortly after purchasing this plan, your loved ones would still be liable to pay off the remaining bill.
Instead of underwriting by asking health questions, a guaranteed issue policy will use a graded death benefit. This means that the policy will specify a period of time, 2 – 3 years, before the full benefit may be paid out. Before that, the policy may return premiums, and some may even pay interest on the premiums. But i order to get the full face amount of the policy, the insured person must survive the specified time period.
If an older person has little money saved and does not want to push the burden of final expenses on to a spouse or children, a small policy can provide security. Sometimes older people buy these for themselves, but many times the grown children will pay the premium for their parents. Sometimes it is hard to start talking about this subject, but it can also be very important.
They just send out mailers or hire telemarketers and they do their best to get you leads (while still charging you $20-$30 per lead). Why can’t you just do this? If it’s going to work, its going to work for you as easily as it will work for them. Some areas just don’t generate leads and some generate tons. Why waste your money and commission to have someone do this for you? Aren’t you in the final expense business to make money? Aren’t you tired of working for someone else? Then why pay for someone to something that is so easy for you to do yourself?