Why Burial Insurance
Many people don’t understand the need for burial insurance. And burial insurance is not right for everyone. Families and single parents with young children need more life insurance coverage than a burial insurance policy can provide. Let’s face it takes a lot more than $20,000 to provide financial security to surviving family. However once the kids are out and on their own, that’s when burial insurance makes sense. Just because providing for your children is no longer a concern, it does not mean you want to have your adult children (or grand children) paying for your burial and final expenses.
Social Security's death benefit is less than $300. You worked hard for this benefit, but it is simply not enough to cover even the most basic of burials. The fact is $300 doesn't go very far, especially when it comes to taking care of final expenses. If you or your spouse is counting on Social Security's death benefit to pay for funeral expenses, then you really need to consider burial insurance.
Often people have group life insurance through their job. But when they stop working the coverage also stops. Once they retire many people, especially those that have had a few health issues, don’t want to go through the trouble of applying for fully underwritten whole or term life. They also don’t need as much life insurance as they did when they were working full time since income replacement is no longer a concern. Burial insurance is easy to apply for and is designed specifically for final expenses. Most burial insurance policies only require answers to a few health questions and guaranteed acceptance policies don't require any health information at all.
Finally there are people that have life insurance but realize that at their age it may not be enough. In these situations, burial insurance can be used to supplement any other life insurance policies that are in place. This way the burial insurance benefits can be used to pay funeral expenses leaving all the benefits from whole or term life to go to beneficiaries. With no medical exam required and only simple health questions, burial insurance is an easy way to add insurance coverage without a lot of hassle.
Social Security's death benefit is less than $300. You worked hard for this benefit, but it is simply not enough to cover even the most basic of burials. The fact is $300 doesn't go very far, especially when it comes to taking care of final expenses. If you or your spouse is counting on Social Security's death benefit to pay for funeral expenses, then you really need to consider burial insurance.
Often people have group life insurance through their job. But when they stop working the coverage also stops. Once they retire many people, especially those that have had a few health issues, don’t want to go through the trouble of applying for fully underwritten whole or term life. They also don’t need as much life insurance as they did when they were working full time since income replacement is no longer a concern. Burial insurance is easy to apply for and is designed specifically for final expenses. Most burial insurance policies only require answers to a few health questions and guaranteed acceptance policies don't require any health information at all.
Finally there are people that have life insurance but realize that at their age it may not be enough. In these situations, burial insurance can be used to supplement any other life insurance policies that are in place. This way the burial insurance benefits can be used to pay funeral expenses leaving all the benefits from whole or term life to go to beneficiaries. With no medical exam required and only simple health questions, burial insurance is an easy way to add insurance coverage without a lot of hassle.
Burial Insurance Forum
9/15/14 - Burial Insurance Company Ratings
When shopping for burial insurance, don't focus on company ratings. Insurance company ratings are an indication of the financial strength of the insurance company and are not an indication of whether the company's policies are competitively priced. As long as a company is rated B or better, they are a sound company with very little risk of default. The fact is that even when an insurance company does become insolvent, each state has an insurance department that takes over to make sure that insureds are paid any benefits they are due.
Instead of worrying about company rating, focus on the price of the policy for a given amount of coverage. And get quotes from multiple companies. That's the best way to make sure you get he best deal.
Instead of worrying about company rating, focus on the price of the policy for a given amount of coverage. And get quotes from multiple companies. That's the best way to make sure you get he best deal.
8/2/14 - Funeral Insurance
The cost of the average funeral is over $7,000. And large funerals can cost much more. Since millions of Americans have almost no savings, the cost of a funeral can be financially devastating. Burial insurance is a simple and easy way that many people protect against the high cost of funeral expenses. The coverage is easy to apply for and policies can be purchased online or through an agent. Once the coverage is in place it won't be cancelled unless the premiums are not paid.
6/30/14 - Burial Insurance not just for Seniors
Burial insurance is not just for seniors. In fact many seniors can get by without burial insurance because their children have done well financially. The purpose of burial insurance is to avoid putting the financial burden of paying for your funeral and final expenses on your children and loved ones. If your children are grown but have young families of their own they could be financially strained by the cost of a funeral which can easily run over $10,000. Funeral cost can also use up funds that could have been spent on college funds or a down payment on a home. That is why so many middle aged adults with families have a burial insurance policy. It is a great convenient and often inexpensive way to cover the cost of a funeral and any other final expenses.
If you don't have burial insurance, take the first step and comparison shop for coverage online. It doesn't cost anything and you may be surprised to learn how much you can afford and how easy the application process is.
If you don't have burial insurance, take the first step and comparison shop for coverage online. It doesn't cost anything and you may be surprised to learn how much you can afford and how easy the application process is.
6/23/14 - Burial Insurance Don't Put it Off
Thousand of people apply for burial insurance every day. So why is it so important to apply now? First, as with all life insurance rates increase with age. If you apply now, your rates will be lower than after your next birthday. Second and most importantly, if you were to die suddenly, do you want your loved ones to be burdened by your funeral expenses especially when they are trying to get through a very difficult time.
There is no good reason to put off applying. The applications are easy to complete. If you shop online you will have your choice of plans and can shop for the lowest rates without even speaking with an agent. You can apply online or call toll free to speak to an agent who can guide you through the application process.
Join the thousands of people just like you that have taken the first step toward protecting their family from the high cost of a funeral. The longer you wait the harder it is to take the first step.
There is no good reason to put off applying. The applications are easy to complete. If you shop online you will have your choice of plans and can shop for the lowest rates without even speaking with an agent. You can apply online or call toll free to speak to an agent who can guide you through the application process.
Join the thousands of people just like you that have taken the first step toward protecting their family from the high cost of a funeral. The longer you wait the harder it is to take the first step.
6/15/14 - Guaranteed Issue Burial Insurance
Guaranteed Issue Burial Insurance is just what the name implies, life insurance that is guaranteed to be issued. The only reason you can be turned down for guaranteed issue burial insurance is if you are too old or too young. Most guaranteed issue policies are available from age 50 to age 80. There is no medical exam, no health questions, or questions of any kind for that matter. If you apply, you will be accepted. In the first two years, full benefits are only paid for accidental death. Benefits for death due to other causes such as illness and old age are limited to premiums paid plus interest in the first two years. After two years the full benefit amount is paid for all causes of death.
Guaranteed issue coverage is a great option is you have had health issues that may prevent a standard burial insurance policy from being issued. It will cost a bit more than a standard burial insurance policy, but it is the easiest coverage to obtain since you can't be turned down.
Guaranteed issue coverage is a great option is you have had health issues that may prevent a standard burial insurance policy from being issued. It will cost a bit more than a standard burial insurance policy, but it is the easiest coverage to obtain since you can't be turned down.
6/9/14 - Applying for Burial Insurance
Unlike fully underwritten insurance policies, burial insurance is easy to apply for. With no medical exam and only a few simple health questions, burial insurance applications take only a few minutes to complete. Many insurance companies offer burial insurance which is also called final expense insurance, so it can pay to shop around. The best way to do this is by using an online insurance quote service. Just search for "burial insurance quote" on Google, Bing or Yahoo and you will get links to several competing insurance sites. By providing minimal personal information, you can get compare burial insurance coverage and prices from multiple insurance companies. Simply select the best coverage for the price and complete the application.
Keep in mind that you can shop around for a better price at anytime. If you find a better rate, you can just apply for a new policy and cancel your current policy as soon as the new one issued. You will receive a refund of any unearned premium on the policy you cancelled.
Keep in mind that you can shop around for a better price at anytime. If you find a better rate, you can just apply for a new policy and cancel your current policy as soon as the new one issued. You will receive a refund of any unearned premium on the policy you cancelled.
6/2/2014 - Burial Insurance Convenience
There is no doubt that shopping around and comparing rates will get you the best price for life insurance. Life insurance is a product just like anything else and it always pays to shop around if you have the time and are looking for the best price.
However as with all products from food to vacation travel, convenience can be a big factor. Sure you may know that you can save money by buying that new shirt at another store that is currently running a sale. But you are already in the store and you just bought a great pair of pants and the shirt matches so you decide it isn't worth running across town to buy the shirt on sale. Yes the shirt cost a little more but you saved time and the difference in price was not enough to justify a second trip to make the purchase. So paying a little more was a good decision.
Life insurance is the same. If you shop around and compare quotes you can certainly save money. However not everyone has the time. And let's face it, who enjoys shopping for life insurance. In fact a major reason that so many people lack life insurance is that it is that not all life insurance is easy to buy. There are long applications, medical exams follow up questions regarding medications and past ailments. I have been a life insurance agent for over 25 years and one of the reasons people don't buy life insurance is because of the complicated application process.
Sure you can find the lowest price life insurance but it is only a good deal if you complete the full application and are issued a policy. If you don't complete the application or if you are turned down for health reasons then a good price just turned into no coverage. Burial insurance many not always be the lowest price, but the application process is simple and most people who apply are issued coverage.
If convenience is a factor and it usually is, then burial insurance might be the best choice for life insurance coverage.
However as with all products from food to vacation travel, convenience can be a big factor. Sure you may know that you can save money by buying that new shirt at another store that is currently running a sale. But you are already in the store and you just bought a great pair of pants and the shirt matches so you decide it isn't worth running across town to buy the shirt on sale. Yes the shirt cost a little more but you saved time and the difference in price was not enough to justify a second trip to make the purchase. So paying a little more was a good decision.
Life insurance is the same. If you shop around and compare quotes you can certainly save money. However not everyone has the time. And let's face it, who enjoys shopping for life insurance. In fact a major reason that so many people lack life insurance is that it is that not all life insurance is easy to buy. There are long applications, medical exams follow up questions regarding medications and past ailments. I have been a life insurance agent for over 25 years and one of the reasons people don't buy life insurance is because of the complicated application process.
Sure you can find the lowest price life insurance but it is only a good deal if you complete the full application and are issued a policy. If you don't complete the application or if you are turned down for health reasons then a good price just turned into no coverage. Burial insurance many not always be the lowest price, but the application process is simple and most people who apply are issued coverage.
If convenience is a factor and it usually is, then burial insurance might be the best choice for life insurance coverage.