Burial insurance can be explained as a type of funeral expense life insurance policy that is specifically designed by the insurance provider to cover the entire cost of your funeral or cremation expenses when you die. Not many people realize that funerals are not cheap and they can easily cost upwards of several thousand dollars. After all, the expenses of a casket, headstone, flowers, burial spot, and transportation add up to make a huge bill that has to be paid and mostly the grieving family has to do it. This type of situation can sometimes lead to a financial hardship on families or loved ones who must cover the costs.
“Burial insurance" usually refers to a whole life insurance policy with a death benefit of from $5,000 to $25,000. As its nickname implies, people buy this type of policy to provide money for funeral and burial costs for themselves and/or family members. It is possible to buy a policy after answering a few health-related questions on the application and with no medical exam.
Our expert advisors can help you choose the best burial insurance policy that ensures your family receives the needed funds to cover the cost of your funeral expenses. This is a highly recommended insurance policy as it makes sure your family doesn’t have to deal with any extra stress of paying for a funeral at the already traumatic time.
Advantages of Burial Insurance Policy
Burial insurances are affordable and almost everyone gets approved
They usually pay out much quicker upon death compared to other types of life insurance policies
They fund all the costs of the funeral
• Unless you have significant health complications, coverage is day 1
• The death benefit is tax-free
• They cover moderate to significant health conditions such as obesity, heart conditions, etc.