For senior citizens all they need is a comfortable life after retirement. If you live on fixed monthly income then the amount that you spend on taxes is very important. You need to pay the least possible amount for taxes and enjoy your life. The three main taxes are income tax, sales tax and property tax. There are many states that have very low tax rates for retirees.
State like the following have the least taxes
- South Dakota
- New Hampshire
The above mentioned states do not have any income tax for senior citizens. They do have a low sales and property tax. Thus having no income tax to pay surely does reduce the trouble to quite an extent.
If not taxes then you can also spend your money on final expense insurance:
If you are an old individual or have parents who are close to their retirement age then you must have definitely seen the exorbitant prices that funerals charge. Though it is a sad topic to discuss but having everything in a planned and precise manner is essential. The cost of an average funeral is estimated to be at least $6000 and is surely getting more expensive with each passing day. If you do not happen to be having such a large amount of cash as saving then thinking about final expense insurance companies.
Thousands of dollars can cost a funeral.
It sure seems to be a lot of money. But it is a very small amount in the world of insurance benefits. Thus funeral insurance policies or final expense insurance are very affordable when it comes to life insurance. It is best suited for senior citizens as well as for those suffering from terminal illness. Final expense insurance is surely a smart way to ensure that all the expenditure is taken care right till the last ceremony of the final rites.
There are many companies that have final expense policies.
The price range is from a few dollars which can go as high as thirty thousand dollars. Thus the premiums also vary. Higher the cost of the funeral higher is the premium. This insurance policy is different there is no end for the policy. It is the other way round the policy covers you when you need the coverage the maximum. This is ideal for those senior citizens who are tied down in a tight narrow budget with very little money to spare.
There are many final expense insurance companies that have different plans to suit the need of different people. Some of these plans also have the feature of instant death benefits. When the policy is in action the insured individual is covered for the entire amount. This policy is a very good option for those people who are suffering from illness which does not let them be a part of regular existing insurance coverage plans.
Why should you choose this policy?
You have to think about a lot of things which will help you to take the decision of opting for a final expense policy. Does your family have enough of spare and waiting cash to spend on a funeral? The policy has wide range of premiums to choose from. You could select one that suits your needs the best. Look for alternatives and then take the best decision for your family.
If you happen to be saving on taxes then having insurance for your final expenses is very good thought. You get to spend your golden years in peace without any hassles.
Melisa is a writer and researcher on ways to save money, such as new, personal loans. Visit Personal Loans in Melbourne to learn more about the advantages of instant loans.