Accidental Death Insurance
Here’s some quick real talk. You only die once. That’s right, it’s crazy but true. Anyone trying to sell your older loved ones on accidental death insurance is basically trying to convince you of double-death. Sorry, that’s not a thing. You don’t need accidental death insurance, which pays if you die in an accident. How you die doesn’t change your family’s financial needs. A great term life policy will meet their needs. Your loved ones are wasting money for double coverage if they buy accidental death insurance. Yes, preparing for future expenses is always a good idea. But preparing and prepaying are totally different things. It’s normal to think more about death (and the expenses that come with it) as you get older. So it’s not totally crazy if your parents or grandparents are thinking about prepaying for their funeral. But prepaying for funerals is actually a waste of a good investment opportunity. Help your older loved ones skip the prepaid funeral. (It’s a sales gimmick for people in the funeral biz to get cash on hand now.) Then set them up with a qualified investment professional who will teach them how to invest and grow their money. When the time comes for a funeral, there will be more than enough for the funeral and then some. Disease-specific coverage just isn’t a thing your loved ones need. Again, it’s a way for businesses to cash in on fear, selling your family something you probably already have coverage for somewhere else. Think about it—do you have heart attack insurance? Stroke insurance? Broken arm insurance? No. Because most insurance policies already cover those types of events. And it’s the same with cancer. If your older loved one’s insurance policy doesn’t cover cancer care, I still don’t recommend getting cancer insurance. Instead, get with one of our health insurance experts who can help your loved ones pick the best policy for their needs. Don’t go buying specialty coverage though! Prepaid Funerals Cancer Insurance
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