Funeral and Burial Insurance (What does it pay for?)

funeral and burial insurance

Are you asking what funeral and burial insurance are? Is there a difference? Is it guaranteed to pay for your funeral or burial expenses? The answers are Yes, No, and not exactly, in that order. The starting point to understanding what funeral or burial insurance is would be to understand the kind of insurance product it is.  Insurance for funeral and burial costs is a whole life insurance policy which is the appropriate type of insurance for final expenses because it lasts for your whole life. Let’s take a look at some of the details so you can better understand the Yes, No, and not exactly of insurance.


What is funeral and burial insurance?

Funeral and burial insurance are a type of whole life insurance plan. Whole life insurance is a type of life insurance that requires no medical exams. It is best known for lasting your whole life which is why it is called whole life insurance. The insurance cannot be cancelled for any reason including aging or a new medical condition or diagnosis as long as monthly payments are being made on time. Often times, people use this whole life insurance to pay for burial and funeral expenses so it is commonly called burial and funeral insurance.

Is there a difference between funeral insurance and burial insurance?

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There is no difference between funeral insurance and burial insurance except for the perception that a person has about why they are buying their whole life insurance plan.  A person calling it funeral insurance might be wanting the insurance to pay for all aspects of a funeral- memorial services, funeral home fees, care for the body, video preparation, casket, headstone, plot and burial. When thinking of burial insurance, that might lead you to think more of burial costs only and not the other things that go with it. Either way, when a person is buying funeral and burial insurance, they should take into consideration what they want it to pay for when choosing their death benefit.

Is the funeral and burial insurance guaranteed to pay funeral or burial expenses?

Not exactly- That might seem a little vague and unsettling because shouldn’t you go into buying life insurance knowing it will pay for your final expenses. The key here is choosing a beneficiary who will carry out your wishes for your funeral or burial. As long as you have made your wishes known to your beneficiary, then your burial insurance should take care of the burial expenses. It is important to get enough insurance. The average funeral is a little over $10,000 so a common policy amount is $15,000 to allow for some inflation and any additional unexpected expenses.

How do I buy funeral and burial insurance?

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The best approach to buying funeral insurance is to start with a broker like Assurance Life. The reason a broker is a good idea is because they work with numerous companies instead of just 1 company. This means they work for YOU the consumer, rather than the insurance company. Assurance Life can consult with you about how much funeral insurance you need and after just a few quick questions and a short yes or no health question list, free quotes with up to 25 companies are available. This means getting the most insurance for the lowest monthly payment. Approval is usually immediate and about 90% of our clients are able to get DAY ONE coverage as soon as the first payment is made.

Can I be turned down?

If you are between the ages of 50-85, you cannot be turned down for a funeral and burial insurance plan.  That is because for the less than 10% of applicants that aren’t approved for immediate preferred coverage, we are able to find a guaranteed issue funeral insurance plan that has no medical questions and automatic approval. The downside to guaranteed issue plans is that there is a two year waiting period and rates can be a little more expensive. However, considering the alternative is that your family will foot the bill for your funeral expenses, the two year wait isn’t so bad. Also, should something happen and you pass away during the first two years, all monies paid towards your policy are refunded to your family in full, plus interest. So the money you invest in the insurance isn’t at risk because it will be returned if you are unable to use the insurance.

The time is now-


The time is now to get your burial insurance plan in place. The rates are based on age and health and usually people are the healthiest they will be and of course, no one is going to be getting any younger. Assurance Life is able to answer any remaining questions and get you going so your family is protected against the costly expenses of paying for your funeral or burial, whichever way you look at it.