Ashford Insurance Services, LLC specialize in Texas Medicare Insurance for Seniors. We offer Medicare Supplement (Medigap or medsup), Medicare Advantage, Life, Hospital Indemnity and Final Expense Insurance Plans.
If you’re collecting Social Security benefits, your Medicare card will be mailed to you 3 or 4 months before your 65th birthday. If you are NOT collecting Social Security benefits, you must apply for Part B of Medicare athttp://www.medicare.gov. (I recommend you do this 3 months before you turn 65.) You do not need to apply for Part A of Medicare, it happens automatically.
NOTE: If you’ve been on an employer health plan beyond age 65, you won’t be able to enroll in Part B online. Instead, you should call 1-800-772-1213 & tell them you want to go on Medicare. They will send you a L654E form that your employer must sign that verifies your past coverage. You can also download this form in English or Spanish from CMS.
Texas Final Expense Insurance, sometimes referred to as Texas Burial Insurance, is a basic type of Texas Life Insurance used to pay for funeral services, cemetery plot and headstone, casket, funeral procession and related expenses. These policies usually cover people until they reach the age of 100. Generally, applicants do not go through a health exam in order to obtain it, but they may be asked to swear that they are not currently sick or in a nursing home. Even though face values are generally small, it is usually enough money to pay for the burial and other expenses. A final Expense Life Insurance policy is a great way to buy exactly what you need.
Final Expense policies are usually small face value Texas Whole Life Insurance policies or cash policies meaning they build cash value over time. Policies can usually be bought for face values (death benefits) from a few thousand dollars and up. Some types even go up higher but these get very expensive for older people and those in bad health. Premiums are level for the rest of your life, and these policies do not expire after a set time period providing permanent coverage.
The price of a moderate funeral is averaging around, $3000.00, and up. If you do not have the funds available for an emergency like a funeral, you should be thinking about how your loved ones are going to pay for your funeral expenses. You also might leave behind some outstanding bills (debt), and loved ones might incur expenses when traveling to a funeral or for transporting the body.
There are different types of Final Expense policies to meet the needs of different individuals. Some FEX policies may offer immediate protection. An individual can be a senior citizen, but they generally need to be in good health to purchase these. For individuals of any age with health conditions that will get them declined for most Texas Life Insurance, Guaranteed Issue Life Insurance policies will work. Guaranteed Issue Life Insurance policies usually use a vesting (waiting) period instead of health questions. When the insured person survives the vesting period, the beneficiaries will inherit the whole face value. If they die, their premiums will be refunded to the beneficiaries along with a stated interest rate of earnings. For individuals who cannot qualify for other Life Insurance, these types of policies are great alternatives.
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