Baby Boomers and Final Expense Life Insurance

Baby boomers are a group of seventy six million American people who were born 1946-1960. Many of these baby boomers are starting to retire during one of the most volatile economies America has ever seen. In addition, to retiring some are being laid-off from their employers after working for their employers for years sometimes decades.

Unfortunately, many baby boomers are left without having the necessary insurance they that they relied on through their employers. This is why final expense insurance has grown in popularity. Many people who are retired or laid-off in this age group now know that they need some sort of insurance to pay for their funerals and final expenses. With their pensions, and other retirement accounts being negatively affected by the current market they need an option to help their families pay for expenses upon their death.

Term life insurance usually is not an option for this age group because they need the permanency of an insurance plan to cover them throughout their lives. A policy is usually issued from $5,000-$20,000. Final expense life insurance requires no medical exam and the applicant only needs to answer a few questions to obtain insurance coverage. A policy is usually issued within a few weeks. Most importantly, in some states regardless of your health condition an insurer must issue a policy to you. In the state of Massachusetts an insurance carrier must offer at least a $5,000 policy to an applicant regardless of their health history.

Lakeisha Clayton is an independent life insurance agent that services the MA, PA, and TX areas. For a free life insurance quote or for life and final expense information visit her blog at MA Life Insurance

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