Our business provides for end of life obligations
Don’t let your loved ones carry the burden
What is Burial Insurance
Burial Insurance usually refers to a small whole life insurance policy that is meant to cover funeral and burial costs. It is generally purchased with a death benefit in the range of $5,000 to $25,000. Burial Insurance is also referred to as “final expense life insurance,” “end of life insurance” and “funeral insurance.”
The cost of Burial coverage normally increases as you get older. Research shows that a 50-year-old male in very good health could expect to pay an average of $280 a year for a minimum $5,000 policy. A 50-year-old female in very good health could expect to pay an average of $220 per year.
Your rates will vary based on gender, age and other factors such as health, occupation, amount of insurance, and credit score.
Burial Insurance is worth buying in order to avoid putting the expense of burial on the family. Funerals can be expensive and costs add up quickly.
The benefits of this Insurance can include:
- The death benefit is guaranteed as long as premiums are paid.
- You can generally choose monthly, quarterly, semi-annual or annual premium payments.
Some Insurance Policies offer an accelerated death benefit in case you’re diagnosed with a terminal or severe illness. This allows you to use some of your own life insurance death benefit to pay for medical expenses or other bills. Using it reduces the payout that your beneficiaries receive.
Please note that your life insurance beneficiary is not required to use the payout from Burial Insurance to cover funeral costs. They have the option to also use the money to pay down outstanding mortgages, debts or other expenses.
Burial Insurance Cost
You can obtain a free Burial coverage quote by completing the form below and submitting it. Our team of highly skilled annuity specialists will work with you to develop a plan that fits your budget and income needs.