Are Your Parents Covered in Full?

If you have elderly parents, you probably are helping them in one way or another financially. Maybe you are helping your parents pay their electric bill, or even get their medications for them each month. The truth is, social security is not keeping up with inflation, meaning that many senior citizens are having trouble making ends meet more than ever.

If you have parents over 80, you may be interested to know that you can purchase life insurance for seniors over 80. While it may seem like it is a waste of money, it may actually be the best investment that you ever purchased. The price of a funeral and burial costs averages well over five thousand dollars and it is going to be up to you to pay for your parents funeral if they do not already have the money set aside to pay for their own services.

Few people have the money set aside for their own funeral due to the situation they are in. With rising expenses, seniors do not have the extra monthly income to pay for their own life insurance. If you are in the situation to buy your parents a life insurance policy, then you should consult with a life insurance adviser that can tell you how much coverage you can get, based on your parents age and their health condition. You may be surprised to see how little a down payment costs and how little the monthly premium is to have your parents covered.

Paying a little bit each month may actually prove to be cheaper than you paying out a lot of money at once when your parents pass away. It is a sad and unfortunate thing to think of, burying our parents, but it is a reality that we must all face and eventually have to deal with.

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