Omaha, Nebraska is the county seat of Douglas County and the largest city in the state. The city has a growing population close to half a million people with one of the lowest fatality rates in the country. However, the harsh truth is that death is an imminent reality for everyone.
One of the most difficult experiences you will go through is losing a loved one. Facing the realities of having a permanent void in your life is a grim reality of death. But more than that, the burden of losing someone also entails suffering the burden of arranging and extending your finances to cover all the expenses associated with a funeral.
This is where a mutual of Omaha final expense insurance comes in. It is an essential financial security coverage that will not only give you peace of mind. In other words, your policy helps your loved ones manage the burial expenses and make the appropriate arrangements based on your policy inclusions.
A Final Expense Policy is Not Health Restrictive
Certain life and health insurance are limited with clauses that underline pre-existing medical conditions. Therefore, it is much harder to get approved for insurance if you already have been diagnosed with a health condition.
What makes a modified whole-life insurance different is its availability to Omahans and the rest of the Nebraskan cities. This policy does not discriminate whether you have poor health and does not include prerequisite medical examinations.
While most life insurance and medical coverage require you to undergo certain physical exams, the mutual of Omaha final expenses insurance won’t require you to undergo one. It works on the presumption that the face value of your policy will go towards your funeral and the various required services.
Policy Premiums Do Not Increase
This type of burial protection is highly for adults who would like to secure their family’s finances in the long run. It removes all the expenses brought by your demise and secures their life through the protection of the member.
As such, this type of insurance coverage is also ideal for seniors who would like to protect their departure but does not have a huge nest egg. People who are retired and want to ensure they are accorded with the right burial or cremation ceremonies can acquire this type of insurance coverage.
Though most typical life insurance can be bought with steady premium payments, the costs for acquiring one increases with age. A burial expense, on the other hand, stays the same regardless of your age. The only considerations you need to determine are the number of years the policy needs to be paid off and prevailing funeral prices.
Your Beneficiary Receives the Death Benefits
Just like the traditional life insurance, your loved ones get the face value of your insurance coverage. The only thing that makes this type of policy better than traditional coverage is its affordability.
Your loved ones can use the face value of your policy to pay off medical bills, cover the overall cost of your burial or cremation, probate their inheritance, or pay any legal fees. This is often the inclusion that cannot be covered with traditional insurance policies.
Nonetheless, this type of insurance coverage safeguards your family from various expenses that may arise because of your demise. It is also an essential need if you want to secure the finances of your family.
Final Expense Policies are a Guaranteed Burial Protection
For Omaha residents looking to get death coverage, the mutual of Omaha’s final expense insurance provides a guaranteed death benefit and burial protection. To paint a clear picture, a 68-year older adult with pre-existing medical conditions aiming for a $25,000 burial protection will only pay a maximum premium of $180 each month.
And let’s say s/he gets a policy with an inclusive waiting period. The total costs might come up only up to a monthly premium of $345. But if s/he buys the most expensive coverage and suffers from congestive heart failure, she would have paid more than $8,000 of premium in just two years.
The value of her policy would have increased within just two years, and her beneficiaries would acquire the profits to her policy. Nonetheless, consider that a final expense insurance coverage is intended for people who would like to entirely secure their burial and reduce the financial burden of their immediate family. The only way to make your exit easier to deal with is by preparing your family and protecting their finances.