Burial Insurance To Pay For Funerals And Final Expenses

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Understanding Burial Insurance

Burial insurance, a form of whole-life insurance, is designed to cover end-of-life expenses. This insurance ensures that your loved ones are not burdened with financial stress during a difficult time. Unlike term life insurance, which offers coverage for a specific period, burial insurance provides lifetime coverage as long as premiums are paid. Let’s explore the different types and benefits of burial insurance.

Types of Burial Insurance

  1. Funeral Insurance:
    • Covers funeral-related expenses.
    • Payouts go directly to the funeral home.
    • Ensures that specific funeral costs are covered without burdening family members.
  2. Final Expense Insurance:
    • Covers a broader range of end-of-life expenses beyond just the funeral.
    • Payouts are made to beneficiaries who can use the funds as needed, providing flexibility.
    • Ideal for covering medical bills, legal fees, and outstanding debts.
  3. Pre-Need Plans:
    • Allows you to prepay for funeral services.
    • Ensures your final wishes are carried out according to your specifications.
    • Provides peace of mind knowing that your funeral arrangements are handled in advance.

Burial Insurance Cost

The cost of burial insurance varies based on factors such as age, health, and the amount of coverage. Typically, premiums range from $10 to $100 per month. It’s important to note that older individuals or those with health issues may face higher premiums.

Burial Insurance Rates

Use our burial insurance calculator to compare rates. Under “length of coverage,” select “Final Expense” to compare your options.

Guaranteed Acceptance Burial Insurance

This type of insurance is designed for individuals who might have difficulty obtaining traditional life insurance due to health concerns. Guaranteed acceptance burial insurance:

  • Requires no medical exams or health questions.
  • Offers coverage with higher premiums and lower death benefits compared to other types.
  • Ensures that even high-risk individuals can secure coverage for end-of-life expenses.
What Does Burial Insurance Cover

How We Can Help

At The Annuity Expert, we understand the emotional and financial toll of end-of-life planning. Our mission is to provide you with the best solutions at the lowest costs, ensuring your peace of mind and financial security.

As an insurance agency, annuity broker, and retirement planner with 15 years of experience, we have helped countless individuals secure their financial future. We believe in offering transparent, reliable advice and stand firmly against high-pressure sales tactics. Our goal is to find the best solutions tailored to your needs.

Understanding Your Needs:

  • We recognize the stress and uncertainty that come with planning for final expenses.
  • Our team listens to your concerns and provides compassionate guidance, ensuring you feel understood and supported.

Tailored Solutions:

  • We offer a range of insurance options to fit your specific needs and budget.
  • Our expertise allows us to navigate the complexities of burial insurance, finding the right policy for you.

Authority and Trust:

  • With 15 years in the industry, we have the knowledge and experience to offer sound advice.
  • Our commitment to transparency and client-focused service has earned us a reputation for excellence.
Burial Insurance Policy

What We Recommend

Step 1: Initial Consultation

  • What Happens: During the initial consultation, we will discuss your needs, financial situation, and end-of-life planning goals.
  • Main Benefit: Gain a clear understanding of your options and receive personalized advice tailored to your circumstances.

Step 2: Policy Selection

  • What Happens: Based on our consultation, we will recommend the best burial insurance policies that fit your needs and budget.
  • Main Benefit: Secure the most suitable coverage, ensuring that your final expenses are fully covered.

Step 3: Policy Implementation

  • What Happens: We will assist you in completing the application process and ensure your policy is set up correctly.
  • Main Benefit: You can enjoy peace of mind knowing that your loved ones will not face financial hardship upon your passing.

Features and Benefits

  • Personalized Service: Tailored advice and recommendations based on your unique situation.
    • Benefit: Feel confident that your policy is the best fit for you.
  • Comprehensive Coverage Options: Access to a wide range of burial insurance plans.
    • Benefit: Find a policy that covers all your end-of-life expenses.
  • Experienced Guidance: 15 years of expertise in insurance and retirement planning.
    • Benefit: Trust in the advice and recommendations provided by seasoned professionals.

Overcoming Objections

  • Cost Concerns: We offer affordable options and can help you find a plan that fits your budget.
  • Complexity: We simplify the process, guiding you step-by-step to ensure you understand your policy.
  • Skepticism: Our long-standing reputation and client testimonials demonstrate our commitment to your best interests.

Neglecting burial insurance can leave your family with significant financial burdens, causing additional stress during a difficult time. By working with The Annuity Expert, you can secure peace of mind and ensure that your final expenses are covered, providing comfort and security for your loved ones.

For free advice or a free quote, contact us today and take the first step towards securing your peace of mind.

Need Help Getting Funeral Insurance

Contact us for help with a burial insurance application. The service is free of charge.

Life Insurance Inquiry

Questions From Our Readers

What is the best life insurance to cover funeral expenses?

Final expense insurance is the best life insurance to cover funeral expenses. It is specifically designed to cover the costs of a funeral, but it can also be used to cover any other final expenses.

Who offers the best funeral insurance policy?

Americo has been one of the best burial insurance companies in business for over 100 years. It is rated “A” by A.M. Best, which means it is a good company with a solid financial history.

How does burial insurance work?

A burial insurance policy covers the funeral, cremation, and other final expenses.

Do funeral home services accept burial insurance?

Yes, every funeral home will accept funeral expense insurance because the proceeds are paid to the beneficiaries, who can spend it on the funeral costs.

What is the difference between burial insurance and life insurance?

Burial is a type of whole life insurance designed to cover final expenses. Life insurance generally has a much more significant death benefit and can be used for things like estate planning or leaving money to your family.

What is the difference between burial insurance and preneed funeral insurance?

Preneed funeral insurance is a type of life insurance that pays the funeral home directly when you die. The insurance pays your beneficiaries, who can use the money to pay for your funeral.

Is burial insurance worth it?

The insurance proceeds can be an excellent way to cover your funeral costs and other final expenses. It is generally less expensive than traditional life insurance, and it can give you peace of mind knowing that your loved ones will not have to worry about these costs after you die.

What is a death benefit for burial insurance and life insurance?

Burial plans are generally less expensive than traditional life insurance. The death benefit is typically much smaller, and the policy only covers final expenses.

Can burial insurance be used for anything?

Yes, the proceeds can be used for anything. However, most people use it to cover costs like a funeral, cremation, and other final expenses.

Can you have two funeral policies?

Yes, you can have more than one funeral policy. However, most people only need one policy to cover their final expenses.

How do you cash in a burial policy?

You can cash in a burial policy by contacting the insurance company and requesting a surrender form. Once you submit the form, the company will send you a check for your policy’s cash value.

What happens if you don’t use all of the money from your burial policy?

Your burial policy will go to your beneficiaries if you have money left over. They can use the money for anything they want.

What type of insurance policy pays for funeral and burial costs?

A whole life insurance policy with a small death benefit for funeral and “final expense” costs is called burial insurance.

Can I get burial insurance for my parents?

Yes, you can get final expense insurance for your parents up to age 85. This type of policy is called a third-party policy.

Can I get burial insurance for my parents without them knowing?

No, you cannot get insurance for your parents without them knowing. The insurance company will require that they sign the policy application and consent to have you as the beneficiary.

What is the best age to buy burial insurance?

The best age to buy coverage is between 50 and 60. This is because most people start to think about their funeral and final expenses as they get older.

What is the maximum amount of coverage for burial insurance?

The maximum coverage for burial insurance varies by company, but it is typically between $25,000 and $50,000.

Is there a waiting period for burial insurance?

Yes, there is typically a two-year waiting period for burial insurance for seniors. This means that if you die within the first two years of your policy, your beneficiaries will not receive the death benefit but the premiums paid instead.

Can you use life insurance to pay for funerals?

Yes, you can use life insurance to pay for funeral costs. This is one of the most common reasons people purchase life insurance.

Can I get a burial policy without a waiting period?

You can get burial insurance with no waiting period, but options depend on the insurer and your health. Immediate Benefit Policies offer this, unlike Guaranteed Issue Policies, which usually have a waiting period.

Can I get final expense insurance for an 84-year-old?

Yes, it is possible to obtain final expense insurance for an 84-year-old. The cutoff age is usually age 85.

Can I get funeral insurance on someone else?

You can if it meets three criteria. You must have their consent, you must show insurable interest, and you must be the one paying the premiums as the owner of the policy.

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Shawn Plummer is a Chartered Retirement Planning Counselor, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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