Top 8 Companies Burial Insurance For Seniors Over 60, 70 and 80
One of AARP’s best-selling products is the product they offer for funeral insurance, more commonly known as the New York Life AARP Life Insurance Program. Whether you surf the Internet or even on TV, I’m sure you’ve found one of your many ads. The reason why they advertise this product everywhere is why it is their best-selling product.
However, with all these ads they leave many people wondering what it is about. The following article will give you a complete summary of exactly what the AARP funeral insurance program is about.
Burial Insurance For Seniors Over 60, 70 and 80
AARP – Who are they?
Let’s start with the basics, AARP is as stated in its mission statement “a non-profit organization. With no political affiliation, with a membership of almost 38 million that helps people turn their goals and dreams into real possibilities. Strengthens communities and fight for the most important problems for families.
In a nutshell, they seek to help improve the lives of the population of over 50 years and the following generations. Providing opportunities for financial welfare and help to contribute to society and local communities.
AARP Burial Insurance
Now, when it comes to your funeral insurance. What many people do not know is that New York Life is in fact the only insurance provider. In short, they pay AARP to sell their burial insurance plans to their members. Although many other insurance companies offer their own type of funeral insurance. Whoever offers AARP the best price to sell their insurance. Tends to get the offer. Within a few year. If another company decides they would like to put their hat in the ring and offer to pay AARP more than New York Life, then AARP has the right to choose that company and it will change the nomenclature of their life insurance. Program to adapt to that company.
AARP promotes these programs for a reason and only one reason, to obtain a benefit. Whoever has the highest offer wins, even if the programs do not necessarily have the best benefits for their members.
General description of the AARP policy
The AARP program consists of three different insurance plans, below you can see a quick snapshot of each of your specific plans.
Benefit Lifetime of AARP
First, this type of insurance policy does not even include funeral insurance. Although they try to push this policy as a funeral insurance. It does not really include any kind of final expense insurance and it is incredibly risky to have the final funeral expenses. Unfortunately for the consumer, they expect you not to ask many questions when it comes to this policy.
Comparing two types of burial insurance for seniors one next to the other. This type of policy will always be cheaper. You have one that never expires and this one that expires on your 80th birthday. But what if you live to be over 80? This is where you get caught. Although the quote is, in fact, cheaper than most other policies. Which they hope will not allow you to ask other questions, it is always better to read the fine print so as not to be bamboozled.
AARP violates its term life plan because, in fact, it gives them more money. However, with the cheapest premium and the monthly price that increases consistently. The best kicker is when he expires on his 80th birthday and you keep your funeral expenses because your senior burial insurance is no longer there. In short, the policy ends completely on its 80th birthday. You do not receive a refund or have the option to renew a new term. Your coverage simply ends. If you still want to have life insurance after this happens, you must get approval for new coverage with a different type of plan. If in fact you are 80 years old and unfortunately belong to the previous category, do not worry, there is still hope.
Term Life Insurance For Seniors
Although funeral insurance is much more expensive now, there are other options that will help you achieve permanent AARP Burial Insurance Company. Although the AARP term life insurance plan sounds good at first. It is only good for its shareholders, not necessarily for the members who have the plan.
- Top 8 Companies Burial Insurance For Seniors Over 60, 70 and 80.