Losing a loved one is an incredibly difficult experience. It is a strain emotionally, psychologically, and physically. But it shouldn’t be financially draining as well. Burial insurance provides you the peace of mind of knowing that your final expenses will be covered.
Funerals and burial costs keep rising every year. A typical funeral now costs several thousand dollars. Final expense life insurance offers a finincial safety net for you and your family during an extremely difficult time. Burial insurance coverage removes the finincial burden from your family who can celebrate a life well lived instead of worrying about the final expenses. Often referred to as funeral insurance, a burial insurance plan is affordable and easy to obtain.
How it Works
Final expense insurance is typically offered to anyone between the ages of 50 and 85. However, some insurance companies do provide burial insurance for those over the age of 85 at an increased cost. Final expense insurance will cover the costs of a funeral service, casket, flowers, and burial plot. These kind of insurance plans do not expire and also include a cash value component where savings can be built up over time. If hard times hit, the policy holder can then borrow against these funds if needed.
How to Find a Plan
Before purchasing final expense insurance, there are several factors you should consider before making a decision. Plans can vary greatly between different insurance companies, so it’s important to compare the various policies and quotes.
Things to Consider
- the initial policy premium
- the waiting period before the insurance funds can be claimed
- the maximum amount of coverage
- the financial rating of the insurance company
Burial Security can help you find the exact plan that is best for your personal needs. Their professional staff will help you make an informed decision that is right for you and your family. They help you compare rates, policies, and premiums from several leading and top-rated insurance companies, taking out all of the guess work for you and your family. Don’t go it alone, seek help from trained professionals who can make the process quick and easy.
The Difference Between Burial and Life Insurance
Life insurance policies provide a set amount of money according to the death benefit included in the package. In the event of your death, your family members receive a lump sum of money that can be spent freely. Your final expenses can be paid for using this money, or you can choose to purchase final expense insurance which will specifically cover all burial and funeral costs; relieving your family from the stress of budgeting for those expenses.
There are many options you can choose from when buying life insurance, while burial insurance has limited options. Also, most life insurance plans have an expiration date whereas funeral insurance plans do not. Final expense insurance has restrictions in the sense that the funds can only be spent on funeral and burial costs.
Qualification and Costs
If you are between the ages of 50 and 85, final expense insurance can be purchased at an extremely affordable price. The younger you are, the cheaper it gets; but it is rarely offered for those under the age of 50. As mentioned earlier, those above the age of 85 who wish to purchase insurance for their final expenses will most likely have to pay a significantly higher premium.
There is no medical exam needed to purchase insurance for your final expenses. Even those with serious health conditions can usually qualify for coverage without any issues. Even if you have been turned down for other insurance policies, final expense insurance can give you and your family the comfort of having your final costs covered. Additionally, the premium will likely be locked in for life and the costs are typically guaranteed to never increase.
Getting a quote for final expense insurance is quick and easy. If you have questions about burial or life insurance, the professionals at Burial Security can help. Whether you want to compare policies, get a personalized quote, or wish to inquire about life insurance in general, getting advice from experts in the field will leave you feeling confident that you have made the right choice for you and your loved ones. Don’t wait until it’s too late, get the policy you and your family deserve by contacting Burial Security today.