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Funeral Insurance Beware

Most people start thinking of funeral insurance or burial costs when it’s way too late. When there health is in disarray and and they believe they are not insurable. But even if your looking for senior’s insurance coverage it really is never too late to click here to compare the going rates available for the most common circumstances. You may wonder how much a funeral costs now, I have been told that it can run as little 10 to 30 thousand. Can you imagine what it will cost in 20 years, with inflation and the cost of living rising steadily each year, how will many of us be able to bury our loved ones the way they deserve.

 

Burial Insurance is a must for Baby Boomers

Many of the permanent insurance policies we rely on are being discontinued or made too expensive to purchase. This will only get worse. I always get the response that they can just sell the house or use the remainder of my rrsp, or assets. What many fail to realize is that the other parent who is still living needs a place to live, they need to still survive with growing living expenses. With many seniors living longer not necessarily better, all of there savings and assets will probably be eaten up by a long term care or  long term care facility. What does this mean to there children, when it comes time for burial, there is nothing left and this can cause turmoil in families. As a life insurance expert it’s actually shocking to see how many house calls I make for this very reason, one of the children had to bare the financial burden, and its now created a huge family rift, and they want to make sure the same does not happen to there own family.  Even if there was money left over for inheritance, after the division of assets, rrsp, capital gains, taxes, probate fees, it still poses a big problem.

 Will the government pay for my funeral

The statistics show in 2020 the Canadian population will be comprised of  20 per cent of seniors. Do you know what I am getting at, you probably think the government will help fund my funeral, think about the financial strain that will be placed on the government, with this many seniors to look after, likely in long term care facilities, i think they will be up to there ears in debt. Its up to you to educate your parents and loved ones and make them see the reality. Sorry to be so bold and direct but I believe I have painted a picture that is very realistic.  For those of you reading this who are my age, in there late 30’s with our own kids in University in 20 years, and us likely helping foot the bill for there education, plus helping out parents financially in a long term care facilities due to lack of funding, can we really shoulder this extra expense when something so small could be prepared for.

Can I get insurance if I am sick

So as a life insurance expert how do we solve this problem. We put a permanent insurance in place for a very small amount to pay for the funeral cost and prevent family rifts due to irresponsible planning. You may be thinking what if I have health issues ? Well there are options like non medical insurance offered by Assumption Life Insurance and Canada Protection Plan  which approves even those who have had heart attacks, strokes, and cancer. Your chances of getting approved are fairly good.  Get the wheels moving and think about the way you want to leave your family, obviously they want the best for you but in 20 years will they be able to afford it. Call or email me anytime for any questions you may have. I am an educator not a salesman there is a big difference. I am considered a high risk specialist so feel free to call me with any health issue you may think will effect the policy.