AARP Funeral Insurance: Everything You Need to Know

Death is an inevitable truth of life. It can come knocking on our doors anytime, leaving our loved ones behind to handle the aftermath. Losing a loved one is hard enough as it is. However, it becomes even more challenging when you have to think about the financial burden that comes with it.

Funerals can be expensive, and it’s not uncommon for families to spend thousands of dollars on a single service. But, what if there was a way to alleviate some of the financial burden that comes with a funeral? Fortunately, there is – AARP Funeral Insurance.

What is AARP Funeral Insurance?

AARP Funeral Insurance, also known as the AARP Guaranteed Acceptance Life Insurance plan, is a type of life insurance policy that helps cover the costs of a funeral. It is specifically designed to help seniors aged 50-80 who may have trouble getting approved for other types of life insurance due to their age or health condition.

The monthly premiums for AARP Funeral Insurance start as low as $12, and it is available to AARP members and their spouses. The policy is guaranteed to be accepted, meaning you don’t have to worry about being denied coverage due to a pre-existing condition or other health issues.

How Does AARP Funeral Insurance Work?

When you purchase AARP Funeral Insurance, you select a coverage amount that suits your needs. This coverage amount can range from $2,500 to $25,000, depending on how much coverage you want.

Once the policy is in place, your beneficiaries will receive a lump-sum cash payment upon your death. This money can be used to cover expenses such as funeral costs, medical bills, or any other expenses they may incur.

The money is paid out tax-free, and your beneficiaries can use it in any way they see fit. They don’t have to provide receipts or prove that the money was used for funeral expenses.

Why You Need AARP Funeral Insurance?

There are many reasons why you may need AARP Funeral Insurance. Firstly, funerals can be expensive. According to the National Funeral Directors Association, the average cost of a funeral in the US is around $7,000. This amount can quickly add up, especially if you opt for additional services or a more elaborate funeral.

Additionally, many families may not have the funds to cover these expenses, which can lead to financial hardships. AARP Funeral Insurance can help alleviate this burden by providing your loved ones with the necessary funds to cover funeral expenses.

Lastly, many people may have a hard time getting approved for traditional life insurance policies, especially if they have health issues or are of advanced age. AARP Funeral Insurance is guaranteed acceptance, meaning that you don’t have to worry about being denied coverage.

FAQs

How to Apply for AARP Funeral Insurance?

If you’re an AARP member and would like to apply for funeral insurance, you can do so online by visiting the AARP website or by calling their toll-free number. The application process is simple, and you’ll only need to provide basic information such as your name, age, and address.

Once your application is approved, you’ll receive your policy documents, and your coverage will begin.

Conclusion

AARP Funeral Insurance can provide peace of mind to seniors and their families by helping cover funeral expenses. It’s an affordable and accessible option for those who may have trouble getting approved for traditional life insurance policies. By understanding the benefits of AARP Funeral Insurance, you can make an informed decision about whether it’s the right choice for you.