Total Insurance Solutions will be providing final expense insurance to baby boomers across Texas. —
Final expense insurance is an affordable life policy option that can protect and provide elderly citizens peace of mind. It is devised to cover funeral and medical expenses when you pass. Traditional life insurance is used primarily during a person's early years, while burial insurance is a way to pay for the expenses left behind.
Baby Boomers Final Expense
Roughly 19.44 percent of the Texas population is considered a baby boomer, and an extensive percentage of Texas residents are in need of burial insurance. Those born between 1946 and 1960 can gain peace of mind with Total Insurance Solutions' offering of burial insurance to baby boomers in Texas. Boomers can choose between two types of burial insurance with Total Insurance Solutions which are the “simplified issue” and the “guaranteed issue.”
Amid the baby boomer years, 1946-1964, 75.8 million Americans were born. Every 7 seconds another boomer turns 50, noted by American author Bill Geist. With a representation of 28 percent of the American population, and their average age being between 54 and 72, baby boomers are likely planning their retirement within the next few years.
A new study shows baby boomers love cities just as much as millennials. In Texas, the top trending cities for baby boomers are:
Texas baby boomers carry large amounts of debt into retirement, according to a report from Lending Tree. In San Antonio, Boomers have an average of $29,993 in debt. With an increase in boomers to the Texas state, resources and options are available with Total Insurance Solutions.
The average funeral cost today is between $7,000 and $12,000. According to Policygenius a common reason Americans buy life insurance is because of burial expenses. Average funeral costs include the following items:
Transfer and removal to funeral home
Basic service fees
In 2014 alone, the national average cost for a funeral rose to $7,281 according to the National Funeral Directors Association. In addition, the cost of a funeral with burial has increased by nearly 20 percent since 2006 according to the NFDA. Many families are unaware of just how expensive a funeral can cost and find themselves left with a hefty bill during a time of mourning.
As Total Insurance Solutions approaches 2020 baby boomers and loved ones in Texas can contact Total Insurance Solutions agents in their local city.
About Total Insurance Solutions
Total Insurance Solutions provides final expense insurance solutions to Texas residents. Funeral costs and arrangements do not have to be more difficult and stressful than the loss of a beloved friend or family member.
If you’d like more information on burial insurance visit the website.
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