These are the most frequently asked questions that we get every day. So, let’s discuss them here, so you get all your queries answered. Read and understand them before purchasing burial insurance. If you have any more questions, don’t forget to contact us.
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Question 1: What is The Task Of A Burial Insurance?
Answer: Burial insurance is a subset of life insurance, which offers policyholders a predetermined amount when they die. This kind of protection has been designed to be an affordable alternative to life insurance. Moreover, it is easier to qualify and attract cheaper monthly premiums. Burial insurance policies have been designed to cover all/some of the leading funeral service costs. The amount of coverage will depend on individual requirements.
Question 2: What is A Funeral Insurance?
Answer: Funeral insurance and burial insurance means the same thing. The two words are merely synonyms (they are different words, but saying the same). Therefore, they both refer to the same product. This product is also known as final expense insurance.
Question 3: Why Do You Need Burial Insurance?
Answer: You will need this insurance especially if you do not have any other form of life insurance. Do not forget that funeral insurance is an affordable alternative and it is an attractive choice for those who cannot afford to buy life insurance. It is also a great option for those who have been turned down for a regular life insurance policy.
It has been recorded that the standard cost of burial is over $9,000 this year. This means that the majority of people are not in a position to afford to pay for a proper funeral. However, with a funeral insurance cover, some burial costs will be taken care of.
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Question 4: How Much Do I Need to Pay For My Burial Insurance?
Answer: The fact is that the amount you will pay for your policy will depend on the type of funeral service you anticipate having. If your wish is to take out a modest plan, having a small and simple service, then your monthly premiums will be lower. However, your wish is to have a large or grander service; then you will surely pay much more. In simpler terms, it will all depend on your policy.
Question 5: Must I Use My Funeral Insurance Benefits On Burial expenses?
Answer: The moment a burial insurance policyholder passes away; their beneficiaries may use the funds in any way they see fit. The amount they will receive is supposed to be used to pay for funeral related products and services. However, it can also be used to settle loans, debts, or any other bill or expense.
Question 6: How Do I Apply For A Funeral Insurance? Is The Process Difficult?
Answer: There are two ways you can go about the whole process,
1. The first step is to look for the best insurance company for you. After this, call them and ask for a policy quote that fits your needs.
2. The second way is to request multiple free quotes from us. The moment you are done, with our help, you will be able to shape a custom policy, which will go in-line with your needs. You will also receive a no-obligation estimate.
With our help, you can compare different company rates, which will save you a lot of hassle and time. The moment you receive this information, you can decide if you want to complete the process or not.
Question 7: Can I Buy Burial Insurance for My Parents?
Answer: Yes, most definitely. Learn more details about getting burial insurance for parents.
Question 8: Do Burial Insurance Premiums Change?
Answer: NO! The moment you buy a burial insurance cover, the premiums will remain the same until payout. Premiums and policies are affected by current age and health. Therefore, it will not change in any way. However, it is essential to know that there are few payout restrictions. For example, in the case that you pass away before a particular time, your keens will not receive 100% of the policy.
Question 9: Can I Cancel A Funeral Insurance Policy?
Answer: If you wish to cancel your policy, all you have to do is to end your monthly premium payment. As soon as you stop paying your premiums, the cover will become invalid, and the policyholder will be refunded a certain percentage of paid monthly premiums. The policyholder is only eligible for a full refund if the policy is found to be fraudulent.
Question 10: How Do I Recognize The Best Company?
Answer: The fact of the matter is that different burial insurance company will offer several policy options, with various premium amounts. Therefore, the best way to identify the best company is to look for that, which satisfies your needs both price-wise and policy-wise. These companies offer free quotes, which makes it easier for you to get the best company for you.
Question 11: Do Funeral Homes Allow Payments Through Burial Insurance Policy?
Answer: The burial insurance plan payout will refuse anything and everything relating to funeral expenses. This is because a funeral insurance policy is a cash-based policy, which policy beneficiaries will receive cash payments that will be used for funeral arrangements. There is no limitation to how and what it will be used to pay for the burial.
Question 12: Can I Apply For A Funeral Insurance If I Have Health Issues?
Answer: Yes! This policy is there for everyone, and this is why it is straightforward to get a burial cover compared to life insurance. However, some health issues will disqualify a person from applying or getting this policy. It is important to know that burial insurance is a policy that does not require any medical examination, which means that anyone can apply. In other words, there aren’t any test obligations for anyone to purchase this policy.
Question 13: How Does A Personalized Policy Cost?
Answer: The fact of the matter is that the cost will differ depending on many factors such as age, location, current health, policy size, career, and others. For example, if your family has a long history of stroke, heart disease, cancer or you are a heavy smoker, alcohol drinker, and others, it might be difficult to get a funeral cover, and if you get one, the cost will be higher. If you are still young, healthy, and have no history of poor health, then your premiums will be much lower.
A majority of insurance companies will not offer burial insurance to people who are over 90 years or closer to that age. The only best way to know how much a personalized policy will cost is by, applying free quotes from here and see what the provider offers.
Related: Tips to Get an Affordable Burial Insurance for Seniors Over 70, 80 and 85.
Question 14: What Is The Duration Of A Funeral Insurance Policy?
Answer: There is no defined duration or deadline to a burial insurance policy. It will only expire when a person dies. This simply means that the moment you pass away, the plan will expire and your heirs will get the amount mentioned in the policy. Then they will use the amount to pay for the funeral service. It can also terminate if you cancel the policy, by not paying the monthly premiums.
In other words, there are only three ways burial insurance can expire, and that is; through cancellation, evidence of fraud, or death.
Question 15: How Do I Find an Affordable Policy in My Area?
Answer: Finding affordable and decent burial insurance is not difficult at all with the help of the Internet today. This is the easiest for this time being. All you need is to click here and see the available offers in your location. Once you request a quote by filling the form with the necessary information, you should receive the quote almost instantly from our recommended providers. By asking multiple quotes, you can save a significant amount on coverage.