Are Funeral Policies Over 85 Possible?
People have been living longer than ever before these days. Technology and advances in health care have made it to where people can live longer than ever before. Typical Americans can live to be about 75 years on average.
Funeral Policies for Over 85 to 90 Age.
That number is even higher in some countries with people in Japan, Singapore and Switzerland all living to at least 80 years of age on average.
With this in mind, you would think that funeral insurance policies would be available to people who are older in age. The truth is that such policies, especially funeral policies over 85, are not always going to be available to the people who need them. This is due to the added risk involved with making a claim, a point that many insurance companies are concerned about as they don’t want to lose money on certain clients.
Cheap Term Life Insurance
The problem is that many old age insurance for seniors companies are not willing to give funeral policies to people 85 years or older. They know that the time between a policy being introduced and a claim being made will be longer in length when a person is older.
The ones that are willing to offer such policies to people at that age will charge large amounts of money for these term life policies. This is due to the added risk involved.
Life Insurance For Seniors Over 85 to 88 Age.
This does not mean that you cannot find funeral policies over 85. You can find plenty of options out there that are useful for your demands. These include policies that will cover all the different final expenses that you might incur upon your death.
Still, you must watch for the costs involved with such a policy. These will include costs that relate to the following considerations:
- Your policy will absolutely be higher in cost as you age. This is due to the added risk of a claim being made at a higher age.
- Your health may also be a factor. You may be able to spend less on your policy if you have clearly shown that you are healthy and aren’t likely to make a claim on it.
- The general amount of coverage you require will also be a factor. You will have to spend more money on a policy if you have a higher amount of coverage in a policy
- Some terms may be applied based on the cause of your death. You may not get affordable coverage if you have certain medical conditions that might make it easier for a claim to occur in the future. A policy will cost less if you aren’t dealing with recurring conditions in any form.
Unified Life Insurance Company
You should be able to get a elderly parents funeral policy even if you are 85 years of age or older. Be prepared to spend a little more for such a policy though. Still, it should be easy for you to find a policy, what with burial insurance companies recognizing that people are indeed living longer.
Just be sure you look around so you can find a old age senior policy that you can afford and that it won’t be too hard on your budget in any way.