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More than likely you’ve heard of AARP, if you’re a senior, it’s almost a guarantee that you’ve received marking pieces in the mail that show some of the different benefits of becoming an AARP member. One of the products that AARP offers is a burial insurance plan.
When you’re shopping for insurance coverage, there are dozens of different factors that you’ll need to consider and several different plans that you need to compare. We know that it can be an overwhelming experience, but it’s important that you make the best decisions for your insurance needs.
AARP Burial Insurance – What you need to know
Shopping for insurance coverage doesn’t have to be a long process, we are here to make it make it as quick and straightforward as possible. We know that you don’t have tons of time to spend on your life insurance search. If you’re considering buying a burial insurance plan through AARP, we have some of the essential facts that you need to know.
Because AARP is an interest group, you’ll have to be a member if you want to purchase any of their life insurance plans (which are offered by New York Life Insurance Company). AARP offers a variety of products, and they have years and years of experience giving life insurance coverage to seniors across the country, but that doesn’t mean that they have the best plan for you.
AARP offers several different insurance coverage policies that they offer, each of them has different advantages that you’ll need to consider. The AARP burial insurance plans have coverage amount anywhere from $2,500 to $100,000 worth of life insurance protection depending on which plan that you choose. This is more than most companies offer through one of their insurance plans designed for seniors.
When you’re shopping for coverage through AAPR, you should be extremely careful. They are tricky with how they present some of their policies, which could leave you with less than perfect insurance. Their Level Benefit Term Life insurance plan will give you insurance coverage until you reach 80. They market these plans at a burial insurance policy, but a proper burial insurance policy will not expire at 80. Every year there are thousands of seniors that buy one of these plans, only to lose coverage once they reach the age of 80, and they are forced to find a new burial insurance policy, which is going to be much more difficult.
The another policy that they offer is a “Simplified Issue Whole Life” plan. This plan is more of a burial insurance policy, unlike their other options. Unlike the term plan that will expire at the age of 80, you’ll have life insurance for as long as you continue to pay the monthly premiums for this plan, which is along the lines of a traditional burial policy.
These plans are incredibly simple to qualify for, as long as you’re between the ages of 45 and 80, you can apply for coverage and get insurance through AAPR. One of the unique benefits of this plan is that you’ll get immediate coverage, unlike other plans which have a two-year waiting period. With these two years waiting period, if you were to pass away within the first two years after purchasing your policy, your family wouldn’t get the payout from the plan. Instead, they would get a return of the paid premiums.
Originally known as the American Association of Retired Persons, the group was founded in 1958 by a retired educator in California. AARP is a non-profit organization whose mission is to enhance the quality of life for all as they age. They do this through providing information, services, and advocacy for people who are retired or are getting close to retirement. In fact, they are one of the most powerful lobbying groups in the United States with close to 38 million members.
As a company, they can help you through a variety of different application process or insurance decisions. They can help you with just about every area of your life as a retired person or a person that’s getting close to retirement. They have resources for maximizing Social Security benefits, planning for retirement, reducing medication costs, and much, much more.
What Kind of Insurance Plan Do You Need?
When you’re shopping for insurance, it’s vital that you buy the perfect plan for your family. Insurance is one of the most important purchases that you’ll ever make, but it’s a difficult decision trying to decide between all the types. Burial insurance policies are an excellent option for coverage, but they are a unique type of coverage that doesn’t work for every applicant.
As we mentioned with the AARP final expense policies, these plans typically only provide around $25,000 worth of coverage to help your family pay for any burial expenses or other minor expenses. Burial insurance policies are an excellent way to give your family the money that they need to lay you to rest without having to drain their savings account, but what if you have other significant debts?
The primary goal of an insurance plan is to ensure that your family won’t be left with a massive amount of debt. If you still hold a mortgage loan and business loans, then you’ll need to apply for a traditional life insurance policy that will give your family more coverage.
Similarly, if you still have loved ones that rely on your paycheck every month, a burial insurance policy will not be the best option for you. A life insurance policy should be used to give your family the money that they need to replace your salary, and a final expense plan won’t be large enough to do that.
If you assume that a burial insurance policy is your only option because of your health, that may not be true. There are several other options that you can choose from. Some companies specialize in working with high-risk applicants, which means that even if you’ve been declined in the past because of your health, there could be a company that will give you affordable life insurance coverage.
Another option is to buy no medical exam policy, which will allow you to get coverage without being required to take the medical exam. This will enable you to get a lot more life insurance protection, even if you’re in bad health or you have pre-existing conditions.
Working with an Independent Broker
The best way to ensure that you’re getting the perfect insurance plan to meet your needs is working with an independent insurance agent. Unlike a traditional insurance agent, independent brokers work with dozens of highly rated companies across the nation. Our agents know which companies are going to give you the rates based on your health and insurance needs.
Every insurance company is going to give you different rates depending on their medical underwriting and rating system, which means that you could get drastically varying rates depending on which companies that you get the quote from. It’s important that you get dozens of quotes before you decide which one is going to work best for you. Instead of wasting your time calling dozens of companies, let one of our experienced agents do all of the hard work for you.
Our agents have years of experience working with all types of applicants, and it’s our mission to ensure that you’re getting the best plan to meet your needs. We know that finding the perfect plan can be a complicated process, but it doesn’t have to be. Our agents are here to ensure that you’re getting the best kind of plan for you, and we can make it as quick and simple as possible.
You never know what’s going to happen tomorrow, which means that you shouldn’t wait any longer to get the insurance coverage that your family deserves. We know that nobody wants to think about his or her death, but not planning for the inevitable is one of the worst things that you can do. If something tragic were to happen to you, your family would be left with your debts and other final expenses. Having the proper insurance in place will ensure that they don’t have additional financial struggles. Losing a loved one is never easy, but being responsible for thousands of dollars of debt is going to make the situation a lot worse.
If you have any questions about AARP or other options for burial insurance coverage, then you should contact one of our agents today. Not only can we help you decide which kind of plan is going to meet your needs, but we can also save you money on your life insurance coverage. Don’t wait any longer to get the insurance protection that your family deserves.