Burial Insurance What is it and Who Needs it?

Burial Insurance: What Is It and Who Needs It? 

You know the basic types of insurance: car, home, health and life, but how much do you know about burial insurance? This insurance is also called final expense insurance or funeral insurance, and offers you a way in which you can help prepare for the expenses that will occur once you pass away.

It’s a basic kind of life insurance, but instead of offering a cash payout, the money in the policy is earmarked for funeral services and related items.

Unlike traditional life insurance policies that pay out hundreds of thousands of dollars upon death, these policies are smaller, Whole Life plans, most often ranging from $5,000 to $25,000. These are designed to not put a financial burden on your loved ones.

One of the major benefits is that there’s no physical exam to go through in order to get burial insurance. To get a Level Premium Plan you should be in good general health. If you are in poor health my carrier will offer a Graded Whole Life Plan.  Most policies usually cover people until they reach 100-121 years of age.

Among the expenses that are typically covered by burial insurance are the funeral service, flowers, casket, funeral procession, cemetery plot and the headstone.

Burial insurance companies offer plans for people ages 50-85 and the amount of coverage always stays the same.

Buying burial insurance is one way that you can ease the burden that will be put on your loved ones. They won’t have to worry about the finances, and they can take their time grieving.

Contact us today to get more information on burial insurance policies or you can run your own Burial Insurance quote.