Burial Insurance Companies
Burial Insurance Topics
The National Slovak Society is a fraternal organization that was founded in February of 1890. The organization offers term life insurance policies to members, which may be used for burial or funeral expenses in some cases. Rates are based on the applicant’s sex as well as whether or not he or she uses tobacco products. The NSS offers flexible payment options including monthly, quarterly, semi-annual, and annual. To see if the society’s term life insurance plans will work for your final expense needs, you may contact a representative using the information provided below.
What is burial insurance?
Burial insurance, also called final expense insurance or funeral insurance, is a form of life insurance that pays a predetermined amount to a beneficiary upon the policyholder’s death. Burial insurance is typically less expensive than traditional life insurance. It is also typically easier to qualify for and features lower monthly premiums than life insurance. Burial insurance is designed to cover the costs of funeral services and related products.
Why is burial insurance necessary?
Burial insurance is essential if you lack savings to pay for funeral and other end-of-life expenses. Your surviving family will be responsible for any debts incurred as a result of your burial, so it’s a good idea to leave them a lump-sum payment in the form of burial or final expense insurance to cover these costs. Burial insurance can also be used as an alternative if you have been turned down for a life insurance policy.
How much burial insurance is necessary?
Burials cost an average of $10,000, and most burial insurance policies pay out accordingly. Policies with higher death benefits are available, though they will also feature higher monthly premiums and may have qualification restrictions if they are whole life insurance policies. If you plan to have a small, simple burial service, a $10,000 policy should be adequate to cover most, if not all of your family’s expenses.
How to get started
If you are already a National Slovak Society member, you should contact your local office and inquire about a final expense policy. If you are a prospective member, you can contact a representative via the company’s website. You may also shop for policies using our comparison tool by clicking on the following link.
Financial Strength Ratings
AM Best – Not rated
Moody’s – Not rated
Standard & Poor – Not rated
Company contact info
National Slovak Society Life Insurance
351 Valley Brook Road
McMurray, PA 15317-3337