Many people are under the impression that you can only purchase a life insurance policy in Glendale, CA if you’re young and healthy. However, that’s not true. There are various policies available for people in different situations.
Burial Expense Policies
Most terminally ill people won’t qualify for something like term or whole life insurance. However, most people can purchase a short-term policy. These are commonly called a burial or final expense policy.
The death benefit is typically lower than other policies and is intended to ensure loved ones don’t have to worry about final expenses. The monthly premium is often higher than other types of policies, too. However, it can be worth it because the premiums are still cheaper than some funerals.
Who Qualifies?
Most companies extend age requirements for these policies. Many people qualify if they are 85 or 95 years old. People with various health conditions will also qualify. It’s important to speak with an agent at Voi Insurance Solutions LLC to see if you’re eligible for one of these policies.
Some exclusions may apply. For example, if people only have 1-2 weeks to live, they may not get a very high death benefit if they’re eligible. A representative will review your situation and help you if they can.
Waiting Period
Some companies have a waiting period for these policies. For example, if there’s a waiting period of 2 years, you may not qualify for the death benefit if you pass away within two years of purchasing the policy. It’s important to be honest with an agent about your situation to ensure your loved ones are taken care of after you pass away.
Here at Voi Insurance Solutions LLC, our compassionate agents will work with you to see what policies you’re eligible for. Contact us today. We’re currently serving the Glendale, CA area.