Preparing for death undoubtedly evokes uncomfortable feelings, but that’s being human. Despite such feelings, people have to accept the reality that one day they will die. Accepting this means you’ll have ample time to prepare for your death as well as giving your family financial security and comfort when the time comes.
Planning and preparing for the unexpected day gives your family space to grieve your death and get through it quickly without worrying about funeral costs. Funerals can cost your family an average of $10,000 or more. But, with burial insurance coverage, you can reduce burial costs significantly.
So, if you want to protect your family from this financial burden, get the right burial insurance policy today, if you can afford it.
What is Burial Insurance?
Burial insurance can be defined as a “whole life” insurance policy factoring in death benefit, usually ranging between $5,000 and $25,000. The insurance policy covers everything needed after death, easing your family from the funeral financial burden. It covers other things like headstones and caskets, even though people consider it as just a “burial insurance”.
How Can I Qualify?
Anyone can qualify for this insurance. However, you need to first answer some questions and confirm that you don’t have a terminal disease. Luckily, you will not be asked to produce a medical statement or be medically checked. This means that anybody can qualify with almost 100% approval.
What if I Have a Life Insurance, Do I Still Need a Burial Insurance?
The answer is yes. You just have to factor in the burial insurance policy in your life insurance. This will greatly help your family since they will not suffer paying for your funeral costs.
The Cost Of Burial Insurance
It’s very cheap to have burial insurance. You might not be aware, but it costs as low as $3 per week. Imagine! $3 per week can buy an $18,000 and $6,000 casket for a young boy and middle-aged person, respectively. The premiums are paid either weekly or monthly.
Who Receives The Money?
Without enough knowledge of how burial insurance works, people tend to think that the money paid to the insurer goes to the creditor or funeral home. The truth, however, is that a family member or someone mentioned by the insured receives the money.
After your burial insurance has been in force for over 1 year, you get the ability to change the beneficiary of the money. Traditionally, it’s family members, that’s why insurers feel uncomfortable when a person without a logical insurance interest is mentioned.
Where to find the best insurance policy?
Many people can’t get burial insurance because they think it’s not worth it. Or they think they won’t afford to pay for it and end up not signing up. Surprisingly, the policy’s premiums go for as low as $2 per week, which quite is cheap.
It’s smart not to overpay the insurance policy by choosing the best insurance company with the best policy plans. However, if you choose the wrong company, your efforts to help your family will highly strain you.
The first thing to consider is how much you plan to pay per month. It’s important to do your research to see how much your family will get with the amount you plan to pay per month.
Looking for the best insurance company offering burial insurance policy should not be that hard. We recommend you search online for reviewed insurers and select that better meets your need.