For many seniors, burial insurance is an important part of their overall financial planning. But some people may be wondering, what is burial insurance and why do I need it? The simplest way to explain burial insurance is that it’s meant to cover your final expenses like cremation, funeral and burial. What most people might be confused about is that burial insurance is just smaller life insurance policies. There are many expenses that come to most families when a loved one dies. Burial insurance can help cover those expenses. You can choose a small, medium or large policy.
The great thing about burial insurance or funeral insurance is that many seniors find it to be quite affordable. For those seniors over 50 who maybe don’t have life insurance, a burial life insurance plan can be a great option to make sure their final expenses are covered not leaving an unnecessary burden on their family. Most funeral insurance policies are sold from top rated life insurance companies throughout the country. We can help you compare burial insurance plans whether you live in California, Florida or Minnesota.
The great thing about burial insurance plans is that you don’t have to spend that much to get a $5,000 – $25,000 policy. The other great thing about burial insurance plans is that many of them are guaranteed acceptance meaning you won’t have to pass a medical exam. Most insurance companies do require that you are over 50 before you purchase funeral insurance. There’s usually also an age limit of enrollment, normally before you turn 80. However, if you have a plan in place before you turn 80 it can provide coverage until you’re 100 years old. This is one reason to consider a burial insurance plan after 50 but before you turn 80.
If you’ve had trouble getting term or whole life insurance coverage, you may want to consider a guaranteed acceptance insurance policy for your final expenses. The average funeral today can cost between $5,000 and $10,000, even if you are cremated. This is not a financial burden most people want to leave their loved ones. The other thing is you may want to get coverage for existing doctor or hospital bills.
There are three different types of burial insurance plans to consider:
When it comes to comparing the best burial insurance rates it’s important to shop around. The reason is that each company has different application process times. There are some companies that will grant you coverage quicker than others. The other thing to remember is that you’ll need to disclose whether or not you are a tobacco user. Most policies cost less than $200 a month for a $5,000 to a $10,000 policy.
We work with some of the top rated life insurance companies offering burial insurance including:
If you’d like to compare burial insurance rates now, feel free to use the quote option at the top of the page. If you’d like to speak to a licensed agent, you are welcome to give us a call using the toll free number at the top of the page. We also offer Medicare Supplement plans for seniors 65 and older.