What is burial insurance?

What is burial insurance?

Burial insurance is a type of life insurance policy in which the death benefit covers funeral and burial expenses.

This is why the death benefit is usually around $25,000.

Burial insurance policies, also known as final expense or funeral insurance, are also easier for seniors with health issues to acquire. 

Let’s go over some basic information on this sometimes misunderstood policy. 

What is burial insurance?

As you get older and begin to pay off larger debts like mortgages and vehicles, it becomes less necessary to have larger benefit term life insurance that may carry a higher premium.

So, a smaller benefit policy like burial insurance can be more affordable and appropriate for your needs. It’s also much easier to qualify for those in poor health because there is no medical exam involved.

There’s also more risk involved, so that’s another reason the policies aren’t as large as term policies were in your 20s.

Affordable life insurance for those with health issues

Final expense is a policy that is more easily attainable for those with health issues.

There’s no medical exam to get approved. Just a medical questionnaire.

Even those with diseases like diabetes can acquire a policy.

And it’s relatively affordable!

Your premium is going to be dependent on a number of factors, so it will require a quote — which we offer for free and quickly. However, it is often $50 to $150 per month depending on age, gender, and benefit amount.

Final expense is much more flexible than pre-paying for a funeral and could cost less in the long run. For one, the beneficiary with burial insurance is going to be your family instead of a funeral director.

The death benefit for final expense is also flexible and allows your family to not only use it on a funeral and burial but to take care of any debts left behind.

If you still have any questions, feel free to give us a call at (800)548-3249!