Most Americans work hard their entire lives with the goal of retirement. If they can just cross that finish line, then life will finally slow down. They often dream of what that day might look like and how they will choose to occupy their time.
Maybe they will sail around the world or finally have time to build their dream car. Maybe they will travel though America in their RV, do more offshore fishing, or possibly sell everything they own to move to a beach-side community. Though these dreams are all attainable on some level, more often than not the reality plays out a little differently.
We work with seniors every day, and most of them are retired. One common thread in our conversations is that life’s to-do list never seems to stop. For most people, it seems to grow faster than they can keep up with. Adding projects to the list is much less difficult than actually accomplishing those projects.
A lot of the clients we work with are calling us for that very reason. The idea of senior life coverage has been on their to-do list for quite some time, and they are finally getting around to taking care of it.
One of the nice things about this particular project is that after you sort through the confusion of quotes and companies, actually obtaining the coverage can be fairly simple. In most situations, it can be taken care of in one day. This is a great feeling, and it’s amazing the relief people feel once this is checked off their to-do list.
Before finally applying the check-mark to the paper, there are a few things we suggest to our clients. Let’s take a look at three of the most common suggestions.
After a policy is purchased, we suggest that you communicate the policy information to your family and/or friends. It is very important to let them know that the policy exists and also to inform them of your reasons for purchasing the policy. Be sure to make them aware of where you keep the policy and also whom to contact should you pass away. This is a vital step, as these plans for seniors lose their value if no one is aware that they exist.
The next suggestion we make is that senior sets up a living will or advance directive. This is simply a written, legal document clarifying your preferences for medical care should you be unable to make the decisions for yourself. By planning ahead, you can receive the care that you prefer while removing the decision-making burden from those around you during this time of crisis or grief. You can also eliminate potential disputes or disagreements regarding the choices being made on your behalf.
The final area we suggest clients deal with is probably the most difficult. We recommend that a client begin to communicate their wishes in regards to funeral preparation. This can be challenging because the average human being does not like discussing death. However, if you can push past those feelings now, you have the ability to eliminate a great deal of stress when the time comes.
Let your family know if you want to be cremated or if you prefer burial. Maybe you have always wanted to donate your body to science. Is there a certain song you would like played at your funeral service? Do you want the funeral service to be elaborate, or would you prefer a very simple ceremony? Have you already purchased a burial plot? Is there a specific place you wish as your final resting place?
All of these questions are good starting points when discussing your desires. This conversation can eliminate emotional stress as well as financial stress. If these decisions are made in advance, it will prevent those left behind from making arrangements while in an emotionally vulnerable state. When people make decisions based on emotions, they often spend more money than the person who passed would ever want them to.
Although these topics are difficult to discuss, it is important for people to have these conversations. This will not eliminate the grieving process. However, the more senior plans today, the less burden will be placed on those left behind.
If you need assistance with senior life coverage, or if you have questions about other plans for seniors, feel free to speak with one of our licensed insurance professionals. We are licensed in most states and would be glad to answer any questions or concerns that you may have.
We don’t have all the answers. However, we can make recommendations that can point you in the right direction. We can also help you obtain quotes for guaranteed issue life insurance for seniors.