Purchasing burial insurance as a senior

At What Age Can You Buy Burial Insurance?

Purchasing burial insurance can be difficult.  However, burial insurance is an important part of planning for end-of-life and covering some (or all) of the costs that could come with that.  If you’re ready to purchase a burial insurance policy, you may be wondering if you’re eligible or old enough.  Below you’ll find important specifics about purchasing burial insurance, as well as some tips and things to keep in mind throughout the process.

Age qualifications

People typically purchase a burial policy later in life.  Seniors are the typical customers purchasing this type of policy, but it is possible to enroll in one sooner.  Some companies offer burial policies beginning at one month of age.  

Burial insurance policies are typically smaller than life insurance policies and will not have as large of a death benefit.  Because of this, the monthly premiums will also be smaller.  This is one of the reasons why many don’t purchase burial insurance until later on in life.  If purchasing while you’re a senior, it’s still possible to have a substantial death benefit and affordable monthly premiums.

If you’re old enough to be thinking about purchasing a burial policy for yourself, you’re old enough to do so.  If you’re purchasing a burial policy for a minor, you can most likely find an insurance provider that will allow you to do so.

Burial insurance

Burial insurance is intended to cover the costs of a funeral and burial.  When selecting a policy, keep in mind the kind of arrangements you’d like to be made.  This can guide some of your decisions and allow you to pick a policy that fits your budget.

Picking an insurance provider

Insurance agents play a critical role in helping you purchase the right burial policy and answer all your questions. A qualified agent will be familiar with the plans and companies in your area. This knowledge is invaluable because plans differ around the country and they can help you select the right local choice for you. Having an agent familiar with your area and the available offers can help you get the best plan. Why spend hours trying to find information when a licensed agent can do the work for you?

While not all brokers are paid the same, generally, they’re paid by commission. This offers some incentive for them to sell the pricier options. However, sometimes the more expensive options are better than the cheaper ones, so your agent may truly be trying to guide you to the better choice. This is why communication is important and you should be upfront with your agent. 

Some states require agents to disclose all of the details of their commission when asked. An agent is your ally. If you don’t feel comfortable asking them about their commission, it may be time to choose another agent. Our team at Senior Life Services is here to provide you with support and do the necessary research that comes with selecting a burial insurance policy.