Did you know that the average funeral in the United States costs between $ 7,000 and $ 12,000?
Although no one wants to spend their time living on the expenses of life, it is important to plan for the future and take these costs into account.
Especially if you have an elderly parent who has not done much future planning themselves.
To cover the financial burden of their final expenses, you can purchase funeral insurance for your parents.
In this post, we take a closer look at buying a funeral insurance for your parents in 2020, why the final expense insurance is important and how to find the best insurance.  Who is required vein?
It is easy to qualify for a funeral insurance policy. Once you have found an insurance you want to fill in a simple form with the policyholder's personal information.
In addition to standard information such as name, address, date of birth and social security number, the form will also have some qualified health questions.
These questions ask about the applicant's tobacco, diagnosis of serious medical conditions such as cancer or heart disease and recent hospitalizations. review their prescriptions and medical history.
The insurance company uses this information to determine if your parent is eligible for coverage or not. If your parent does not agree, they will not be accepted.
Filling in the application
Almost all companies that offer funeral insurance, you can fill out an application online, and they usually approve the application within two working days.
19659016] If your parent is uncomfortable with online forms, you can call the insurance company and have them process the application by phone.
These phone calls only take about 30 minutes and your parent completes the entire process without ever going online
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What is the best life insurance policy for parents?
There is no single best life insurance for parents.
Although popular alternatives such as AARP Funeral Insurance and Omaha Mutual Funeral Insurance are strong plans that work for most people, keep the following attributes in mind when comparing policies and quotes.
Accepted Health Problems
If your parent has a chronic illness, has cancer, has been hospitalized for the past two years, or has had a history of heart disease. or stroke, you need to think about it during your search.
Not all insurance companies are willing to cover people with this type of condition, but some are.
Your parent's age
Every business has their age restrictions requirements.
Most companies will approve new policyholders as old as 75 years old, but your options are more limited if you are applying for funeral insurance for parents over 80 years old.
The insurance company's reputation  Check the company's rating with AM Bäst to get a sense of their financial stability. Take some time to read customer reviews.
How is their customer service? Is the customer portal easy to navigate? Are current customers happy with their experience?
Choosing a stable company that is easy to work with will make the whole experience more enjoyable and manageable from start to finish.
Which scope is best?
Policy amounts usually range from $ 2,000 to $ 40,000. Just as there is no single best policy, there is no simple answer to how much coverage is best.
So, how much coverage does your parent need?
The coverage amount depends on a few different factors such as the type of funeral your parent wants, how much debt they have and all the expected medical bills.
Because things like debt and healthcare costs are unpredictable, it's always smarter to get a little more coverage than you think you may need.
Can You Get Life Insurance on Your Parent Without Their Knowledge?
No, there is no way to legally get insurance on someone who does not know the insurance (outside of your child under 18 years).
This includes life insurance for your parents.