Burial Insurance Topics
Burial Insurance FAQ
What Are The Advantages And Disadvantages Of Funeral Insurance?
Funeral Insurance is regarded by many to be low benefit and easy issue life insurance coverage – easy to organize and very valuable, (especially for those left behind). Premiums can often be paid either weekly or monthly, or some prepaid funeral plans allow you to pay for the whole thing in advance. You can buy funeral insurance from a variety of sources – some funeral homes have their own plans, insurance brokers and agents also sell funeral insurance policies.
Benefits of some Funeral Insurance Policies
- Only a few health questions to answer (half a dozen or so)
- Applicant must confirm their health and personal information
- No blood and urine tests required
- Immediate payouts possible from date of issue
- Higher maximums available with additional underwriting
There are, however a few disadvantages:
- Low maximum payouts, only $15,000 – $35,000
- Might not be able to get a payout (or only limited) for the first 2 or 3 years
- No breaks for good health
- Only available up until around 85 years of age
- Might not be available for people under the age of 40 years
- No or little cash value
- Value might exceed the cost of the actual funeral
- Might cost you more than the death benefit
Graded insurance benefits also have their advantages and disadvantages:
- Applicants only need to verify their personal information
- No physical tests are required
- No health questions to answer
But then again there are drawbacks:
- You can expect lower policy maximums
- You won’t get a full pay-out for between 2 and 4 years
- There aren’t usually any additional amounts of coverage offered
The important thing when looking into any type of funeral insurance is to check all of the details really carefully and weigh up all of your options. Funeral insurance can make a world of difference to your loved ones but make sure that you know exactly what you’re paying for.
Free Burial Insurance Rate Quote
Most people who are searching online for burial insurance don’t realize that funeral insurance is essentially life insurance. A very inexpensive way to obtain quality burial insurance is to get a free life insurance quote.
There is a very simple question to answer as to whether or not you need burial insurance.
Burial insurance (aka funeral insurance) is a basic issue life insurance policy that covers people until they reach 100 years old. Burial insurance (also known as funeral insurance) is promoted as a way to pay in advance for your funeral expenses so that your loved ones won’t have to pay for your funeral. There are many things you can do to make your death easier on the wallets of those you love. Preplanning your funeral saves money and grief, as well as deciding whether you want to be buried in a casket or cremated and put into and urn, figuring out who gets what part of your estate and all the related turmoil associated with the end of life.
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