Burial insurance is a common way for policyholders to pay for their funeral arrangements. When you consider that the average funeral costs roughly $9,000, having some coverage will provide financial relief to families that would otherwise be burdened with the expenses.
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Burial insurance is a type of life insurance with lower benefits and fewer restrictions which mean that seniors in their 80s can purchase it at reasonable rates. Usually, there are no medical exams and only a few health questions. It should be noted that the benefits are not directly tied to the funeral itself unless it is part of a pre-paid funeral arrangement. Otherwise, the benefits can be spent for whatever the beneficiary wants.
You should look for the type that is permanent if possible since it will last for your lifetime. Such policies are more expensive than term insurance but offer the benefit of not running out. If you are looking to provide a general amount for burial coverage that is not tied to a pre-paid funeral plan, you may consider leaving behind a little extra for your family to provide a little financial comfort.
Finding Affordable Burial Insurance
The first step is finding the right type of policy that will fulfill your wishes in terms of your funeral arrangements. Typical burial insurance policies range from $2,000 up to $20,000 and are offered by different types of organizations which means you will need to consider all options before choosing the one for you.
Insurance Companies: Virtually all insurance companies that offer life insurance will have burial insurance as well since they are virtually the same thing.
Funeral Homes: Here, the burial insurance is part of a pre-paid funeral arrangement that allows the policyholder to dictate what they want and have it carried out by the funeral director.
Group Policies: Your employer, as well as some prominent national organizations, may offer burial insurance at very low rates, although there are usually some restrictions that apply.
Keep in mind that not all burial insurance is alike as the terms, conditions and rates will all vary. The good news is that there is an easy way to find the right rates for your needs.
Burial Insurance Quotes for Seniors
A free quote is exactly that, a quote from the company providing the policy so that you understand how much it will cost before you make any decision about the purchase. All you need to do is fill out a short form, and within a short period, you will get a free quote based on the information you provided.
The best burial insurance rate can be found by shopping online for free quotes from different sources. You can start with our site that offers excellent rates for burial insurance.