Burial Insurance Policy
Also known as funeral insurance, burial insurance policies are types of whole life plans that individuals purchase to cover themselves or loved ones for the duration of life. A Burial Insurance Policy is designed to take of the insureds final expense costs.
If you are a child of parents and are looking for ways to take care of the final expense costs or you are searching for a policy for yourself, burial policies can help you and other surviving members to cover the costs of final expenses.
What is Burial Insurance?
Burial policies have different requirements; depending on the insurance provider, the insured must be between 45 and 85 years old. For example, most funeral insurance policies start at 50 years of age Additionally, the amount of the benefits can also vary , ranging from $1,000 to $50,000 or greater; in some instances, you may be able to purchase multiple policies and stack your coverage, depending on the amount you need.
These plans are also known as Simplified issue or no exam life insurance policies and do not require the applying applicant to submit to medical exams or physicals. Instead, these plans will ask “yes” or “no” questions pertaining to the applicant’s current health, lifestyle and coverage needs. While you are not required to be examined by a physician, you will need to give permission for the provider to obtain reports from pharmacies or the Medical Information Bureau prior to approving your application.
What is the Purpose of Burial Insurance?
Burials and other funeral arrangements can become costly, depending on the final wishes of the deceased.
Not only will you need to consider the actual funeral or burial itself but also the cost of travel arrangements for relatives, fees for the wake and possibly any unpaid debts that have been left behind.
A Burial Insurance policy exists to cover these expenses so that the surviving family members are prepared. In fact, it is often better to consider planning for this event sooner rather than later because you may be able to qualify for more coverage at better rates, now, while you or your parents are in relatively good health and at a younger age.
Additionally, sibling or relatives may argue or fight over the unexpected costs of these expenditures thrown at them at the last minute; by having a funeral insurance policy in place, there are no surprises and the burial and other expenses are taken care of, leaving you and your family sufficient time to grieve.
If you are searching for a concrete, thorough life insurance policy designed to give you and your loved ones peace of mind, burial insurance can provide the money needed to cover your final expenses, burial costs and outstanding debts.
Get a Burial Insurance Quote
By having a plan in place and leaving them with monetary security, you can ensure that your family will not be financially overwhelmed after you pass.
Contact me today for a free no hassle , no obligation quote. My number is 512-963-5000