Transamerica Burial Insurance

Many families have concerns about the high costs of settling final expenses after an elderly parent or grandparent passes away. Some of these families might be worried about the cost of a funeral, burial, and medical bills. Other families could use some extra cash to help settle an estate or even pass on wealth to the next generation. Transamerica Life Insurance Company provides two different types of senior life insurance policies that can provide the right solution for different needs.

Burial Insurance for Seniors

A burial policy from Transamerica Life Insurance Company can be a great way to make certain that a family has cash to pay for a funeral. Since the proceeds are paid directly to the beneficiary, that individual can decide how the cash should be spent. Some of the money might be used to pay a funeral home, but any money left over can be saved or spent. Since the face value of these policies is fairly small when compared to other types of life policies, the premiums may be fairly cheap.

These are some things to know about burial insurance for seniors from this company:

  • Issue ages: These policies are issued up to age 80.
  • Death benefits: These policies can be issued for $2,000 to $50,000, and the benefits are payable immediately after issue.
  • Cash value: The policy can grow a cash value over time.
  • Underwriting: The application process is simplified, and it may only require answers to a few health questions.

Senior Life Insurance

Some families need a greater level of protection than can be provided by a burial policy. The company also offers a life insurance product for applicants up to age 80, but it is fully-underwritten. This means that only relatively healthy elderly people may be accepted.

These are some features of the fully-underwritten policies:

  • Death benefits: Face values can range from $50,001 to $3,000,000.
  • Cash value: The policy can grow a cash value over time.
  • Accelerated death benefit: If the insured person gets diagnosed as terminally ill, he may be able to collect up to 75 percent of the death benefit while he is still alive.
  • Underwriting: The application process may take a little longer than it would for coverage with a lower face value, but we can guide you every step of the way.

We Offer Free Online Burial Insurance Quotes

You can use our online tools to access free whole life or burial insurance quotes at any time. In addition to offering free quotes on the Internet, we can also answer your questions about a variety of different types of policies from many top-rated companies. Contact us for more information or to receive quotes over the phone. Our experienced life insurance agents will work hard to find you the right coverage at the cheapest possible rates.