Burial Insurance Quotes
Whether we are young or old, we must be prepared for the inevitable, and it is best not to leave our families with the hefty costs of a burial. The best way to handle these expenses is to purchase burial insurance.
There are many companies that offer burial insurance policies, and to learn more about them, you need to explore each one. M2 Insurance is a good place to start your research. I work with several carriers and I am confident that I can find you the best burial insurance rates.
What is a Burial Insurance Plan?
Burial insurance policies are smaller versions of whole life insurance plans. They are designed to specifically manage your burial expenses, which encompasses burial or travel expenses for relatives, wake expenses, cremation fees, small debts, etc..
Burial insurance plans, have some qualification restrictions:
Minimum Issue age is generally around 50 with a maximum of around 84.
Benefits may be range from $1,000 to $50,000
Simplified issue Yes and No answer on an application
No Medical Exams
Immediate death benefit from day One
Burial Insurance Quotes
To obtain a burial insurance quote, I will need to gather some answers about your general health
Burial insurance is similar to life insurance in the sense that the cost of the premium will be higher if your health is deteriorating and of course it will be based on your age.
Here is a list of common questions that most carriers will ask on an application:
1. Have you ever been diagnosed or treated by a member of the medical profession as having a terminal illness, Acquired Immune Deficiency Syndrome (AIDS), AIDS Related Complex (ARC), or Human Immunodeficiency Virus (HIV) infection?
2. Are you currently:
(a) Receiving hospice or home health care?
(b) Bedridden, confined to a hospital, nursing home, or other facility, or has confinement been
recommended by a member of the medical profession?
3. Have you ever been diagnosed or treated by a member of the medical profession as having Alzheimer’s disease or dementia?
4. In the past 12 months have you been diagnosed or treated by a member of the medical profession for internal cancer?
5. Have you been diagnosed with a terminal illness with less than 12 months to live?
If all answers in the following section are NO , most carriers would offer an Immediate Benefit Plan. A yes answer would probably get you a Graded life plan.
The following are other common follow up questions. Any Yes answers here would make you eligible for a Graded or a Guaranteed Issue Life Insurance Plan.
I am using Royal Neighbors of America as they are a great carrier with excellent rates!
5. Have you been diagnosed or treated by a member of the medical profession as having:
(a) Diabetes before age 30, or suffered complications from diabetes such as neuropathy, retinopathy,
kidney or vascular problems
(b) Emphysema, chronic obstructive pulmonary disease or a lung disorder requiring oxygen
(c) Heart attack, coronary artery disease diagnosed before age 60.
(d) Heart valve disease requiring surgery
(e) Stroke, aneurysm or cardiomyopathy
(f) Kidney disease, liver disease or hepatitis C
(g) Multiple sclerosis or Parkinson’s disease
6. Within the past 5 years have you been hospitalized, diagnosed or treated by a member of the medical
profession as having:
(a) Cancer, leukemia, melanoma or any other malignancy (except basal cell skin cancer)
(b) Mental or nervous disorder
7. Within the past 2 years, have you been treated or counseled by a member of the medical profession for
alcoholism, alcohol abuse or any drug or substance abuse?
A drawback of these plans is that, depending on your health and age, the premiums may fall outside the reach of those with limited income.
Contact me today for a quote. My number is 512-963-5000.