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Burial Insurance

Burial InsuranceBurial insurance is often called final expense, funeral or death insurance. Many people find it is difficult to talk about or plan for their own funeral, but it is a fact of life. Being prepared is one of the best ways to prevent your family from being burdened with the cost of a funeral that can be quite expensive. You should expect to spend several thousand dollars to bury a loved one.

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To decide whether or not this is an investment that makes sense in your life you need some basic information. The cost and expenses involved in a funeral, a definition of which of these things burial insurance actually covers, and an evaluation of your life situation in response to some relevant questions will help. Once you have this data you will have a better idea of whether or not this coverage is right for you.

Basic Expenses for a Funeral

Covered With Burial InsuranceJust the basic expenses incurred for a funeral typically include the following:

  • Casket
  • Flowers
  • Hearse
  • Preparation for viewing by the funeral home
  • Use of the funeral home for the viewing and service
  • Opening and closing the grave
  • Headstone
  • Funeral program and publishing the obituary

The cost of the casket alone is often thousands of dollars. According to FuneralTips.com the average cost of a funeral in 2012 ran between $8000 and $10000.

For those who are unprepared for these expenses, relatives may have to spend their savings or go in debt to pay for the funeral of their loved one. Choosing a burial insurance plan that will cover the cost of all the final expenses can .

Basic Definition of Burial Insurance

Burial insurance is a policy that pays for funeral expenses. Payments for this insurance are made on a regular schedule – generally monthly or yearly – and the amount is used to pay for the funeral after the death of the policy holder.

Differing from life  insurance which often provides the survivors with funds to live on, this type of insurance is set aside for the expenses of the only the burial and funeral.

Read more about the restrictions, costs and wisdom of this coverage at the iMortury.com blog.

The cost of burial insurance will vary from one insurance company to another. This is why it is important to compare rates. Choosing the one that provides the best coverage for final expenses is essential to ensure the best value is being obtained for the premiums that are paid.

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Choosing the Best Value

There are numerous insurance companies that offer burial insurance online. This is one of the easiest ways to compare rates and plans. Choosing an online site that offers insurance for final expenses through top-rated insurers is a simple process. All you need to do is put in your zip code and the type of insurance you are interested in purchasing.

Burial Insurance Needs

A short form is provided with questions that include your gender, date of birth, height, weight, and if you use tobacco. You will be directed to another page that asks for applicant information such as name, address and telephone number. The name of the beneficiary and their relationship to the insured is included.

A short health history form will be filled out and includes questions pertaining to the person to be insured, such as the following: Within the past 3 years, have you had or received treatment for:

  • Coronary artery disease, cancer or liver, brain or heart disease
  • Mental disorders, kidney disease, lung disease, muscular disease, diabetes that required hospitalization or drug or alcohol abuse
  • AIDS or exposure to the AIDS virus

Do you have a condition that requires periodic medical treatment or will require surgery in the future?

Do you plan to replace or change other insurance policies with this policy?

Each question will be answered with a yes or no; and quotes will be provided by the different insurers that are licensed to do business in your area. Choosing one that provides the coverage you need at an affordable cost is a simple process because quotes that are received are competitive.

What Burial Insurance Covers

In most states, burial insurance is a basic life insurance policy that covers policy holders until the age of 100 as long as the premiums are paid and the policy is active. It is most often purchased to cover the burial expenses and can pay other debts such as credit cards that are owed when the beneficiary dies.

There are certain medical expenses that are covered if they are directly related to the funeral.

Questions On Burial Insurance FormThe premiums paid for the burial insurance generally remain the same throughout the life of the policy. Although some policies can accumulate a cash value, most do not. Some insurance policies do not pay the entire amount of the policy until after it has been in effect for a period of 2 years.

They may however, refund the amount of the premiums collected if the insured dies before this 2-year period. This type is called a guaranteed issue policy. Some states do regulate guaranteed policies and require payment if the insured dies before the maturation of the policy. This should be checked as well.

Another type of burial policy is a simplified issue policy. A few health questions are answered and if the person is qualified and chooses this policy, it goes into effect immediately. There is not a waiting period. Qualifying for a particular policy will be dependent upon the health of the individual, but a medical exam is not required.

This reason, among others, is an excellent basis for comparing rates online. Each quote that is received will provide the company’s rules and regulations regarding issuance of the policy. This makes it easy to compare what is provided for the amount quoted.

Burial Insurance Costs

Convenience of Comparing Burial Insurance Online

Only a few years ago buying burial insurance meant going from one insurance company to another to compare the amount provided and the cost of the premiums. This could often take weeks if there were several insurance companies being compared. The convenience provided by obtaining burial insurance quotes online has revolutionized the way we shop for insurance today.

Couples Burial InsuranceIn the past many people purchased insurance from the first company they talked to because it was easier than going from one company to another to compare policies and rates. For this very reason, many people are paying higher premiums than they need to pay.

Receiving quotes from top insurers from the comfort of your home is fast, easy and it is free. The process is simple and insurers compete for your business; therefore, the best rates are available. There is never any pressure to choose one company over another. The comparison sites provide the quotes from several companies and they do not promote any particular insurer. The choice is entirely yours.

Even if you have health issues, you can find a burial insurance policy. Many people are uninsured because the cost of life insurance is so expensive that they cannot afford the premiums. Burial insurance can be the answer. Most people will find this insurance affordable and purchasing a policy that provides the protection needed allows their family with the ability to pay their final expenses.

To get your estimated rates for this coverage just go the FREE quotes tool and enter your ZIP code now!

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