Buying Burial Insurance to cover your final expenses is an important decision. No one wants to be remembered as a burden to their family members when they are gone. After all it is your funeral we are talking about. So it’s important to plan ahead so your family memories will be protected and you and your family can have peace of mind.
Now that you know the importance of having burial insurance in place, it is important to avoid the common pitfalls of buying the wrong kind of burial insurance. Assurance Life helps individuals EVERYDAY purchase Burial Insurance for their final expenses. We can help you avoid common mistakes that can occur when choosing the right burial insurance. This is what we do and ALL we do. Call us at 800-517-0810 to speak to one of our licensed agents. Click here for our 2018 best burial insurance companies.
5 Mistakes to Avoid when Buying Burial Insurance
Mistake #1– Not using an independent agent – This one is very important when buying burial insurance. Using an independent agent saves you a lot of money and can save you a lot of time during the buying process. Most independent agents like Assurance Life have access to many Burial Insurance Companies that they work with. This is important because each burial insurance company will view your health conditions differently. So finding the right plan and right company based on your individual health situation is critical. This assumes you like to save money and want the right plan for your needs. Buying direct from ONE insurance company IS OFTEN NOT your best option. They will only have one plan available to choose from and only one price. Plus, one company means one set of rules when it comes to underwriting. You need an independent agency with multiple burial insurance companies working for YOU to find the most coverage at the lowest price. This is the best way to purchase burial insurance.
Mistake #2- Usually the insurance solicitations you receive in the mail aren’t your best options
– Most of the junk mail you receive concerning insurance is usually just that.. JUNK. Remember.. if they DON’T ask you any health questions you will pay MORE. In fact, this is most expensive type of life insurance you can buy. Plus, ALL of these plans will have a waiting period of two years or more. Assurance Life gets about 90 percent of all of our customers immediate coverage. This means NO waiting period and you don’t have to wait before your death benefit is paid out. Of course, your current health situation will determine what plans you will qualify for. But once again, more times than not you will SAVE MONEY if a licensed agent asks you health questions compared to just signing up for some offer through the mail. Buying burial insurance is an important decision. Allow an expert to help you through the process.
Mistake #3– Choosing the wrong type of policy – Make sure you don’t make this mistake. If you are looking for a policy to cover just your funeral expenses at the time of your passing, YOU DON’T need a term policy. You can’t gamble that you will die during your term. Most often, people WILL out live the term of their policy. You need a plan in place that is GUARANTEED not to cancel so you can pay for your funeral and final expenses. Whole Life Insurance is your best bet in this situation.
Mistake #4– Under or Overestimating your insurance need
– First ask yourself what do you want the insurance policy to do for you? Then calculate what your final expenses will be. Assurance Life can help you in this process. It’s important to not under or overestimate your insurance needs. Assurance Life advises all of our clients to only take out the amount of death benefit you need and what fits in your monthly budget. Life insurance is not one of those products you should take out and have to let it go because you can’t afford it. Unfortunately, in that situation you lose every penny you put in. So make sure before you purchase a burial insurance plan that you can handle the monthly payment in your budget. Also, underestimating your needs can be an issue also. If you are currently under 50 years old, you should really consider taken more burial insurance out than you had planned because funeral costs will rise over time.
Mistake #5– Waiting to buy – I won’t die anytime soon – Unfortunately, we hear this often. Of course, talking about dying isn’t something anyone likes to talk about. In fact, talking about Life Insurance is NOT that exciting either. But often our clients tell us we won’t die anytime soon and can just wait to buy life insurance. The BEST time to buy life insurance is when you are YOUNG and HEALTHY. Remember.. you won’t be ANY healthier or younger than you are today. Also, when it’s your time- it’s your time. None of us know when the Lord will call us home. Plan ahead so your passing will be a time of sharing memories with family, not a time of figuring out finances for funeral expenses.