How does Burial Insurance Work?

how does burial insurance work

Are you wondering- How Does Burial Insurance Work? Many people aren’t sure what services burial insurance offers. Does it mean you choose all your burial details ahead of time?

Does it mean it pays only for burial? Does it cover all types of burial and keep on growing as the cost of burial expenses grow? There are so many questions to consider when you think about How Does Burial Insurance Work?  Let’s get some answers….


Burial Insurance- What is it?

what is burial insurance

So before you can really answer how does burial insurance work, you have to know what burial insurance is. Burial insurance is a specialty life insurance policy intended to pay for a person’s burial expenses and other final expenses. This type of insurance is a whole life insurance plan. Whole life means that it never expires and won’t be cancelled for any reason as long as monthly payments are made.

Burial insurance plans can be purchased for as little as $3000 (usually for someone who intends to be cremated) all the way up to $50,000 or more for those wanting to cover ALL their finals expenses. Final expenses can include funeral expenses, medical bills and any other expenses your beneficiary chooses to pay. Leaving some funds behind for a family member or a loved one is another popular option as well.

Burial Insurance- Who needs it?

Burial insurance is for anyone who doesn’t have the means to pay for their funeral final expenses if they unexpectedly passed. This means if you don’t have other life insurance, a hefty savings account, or some other way to pay for a funeral, burial insurance is something that would benefit you and your family. If you are one of the “who needs it” then read on for more information about how does burial insurance work.

Burial Insurance- Why people buy it

how does burial insurance work

After you understand what burial insurance is, the next step to answering how does burial insurance work is to consider why people buy it in the first place. In the big scheme of things regarding how people plan for their death a lot has changed since the turn of the century.  Wills can be written online, traditions are transitioning from the formal to more casual, pension plans are a thing of the past, savings accounts are used up as folks live longer, and more and more seniors are helping out their children financially.

This means that people are dying without the money available to pay for final expenses. That leaves family members burdened financially. Burial insurance is the solution to that problem. It is a specialized life insurance plan that helps pay for funerals, memorial services, legal paperwork, and more upon your death. By budgeting now, these expenses will be paid for later.

Burial Insurance- How much to get

As you think about how does burial insurance work, one of the first steps to getting burial insurance would be to think about how much you or your loved one would need so their wishes are honored and family is protected upon their death. There are a lot of choices to consider and when you are thinking about purchasing burial insurance, it is a good time to make sure your beneficiary and other family members know what your wishes are for funeral arrangements.

As you think about your wishes, Assurance Life can help you with how much the average cremation or funeral costs in your city and state along with other factors such as any debts you may owe, paperwork costs upon death, and possibly leaving additional monies to loved ones. Average burial insurance plans are for death benefits between $10,000-20,000. This amount usually covers the typical funeral costs plus some of the other final expenses people have.

Burial Insurance-Where to buy it

where to buy burial insurance

One of the most important factors in answering how does burial insurance work is knowing where to buy it. It is overwhelming how many insurance companies sell burial insurance and to try and go to each one for a comparison quote would be impractical and discouraging. Thankfully, due to technological advances, a broker like Assurance Life can help you compare limitless companies so that you get the most coverage for the lowest premium.

Insurance brokers work for the customer instead of the insurance company so their number one goal is to serve YOU! This means based on your age and health, Assurance Life will be able to compare many options with a few keystrokes and make sure you end up with the one that is best for your exact medical profile.

Burial Insurance- How to apply

Once you settle on using a broker, the application process is very easy. There is a brief application with simple questions and yes and no health questions to get you placed and approved usually within 1 hour. About 90% of clients are approved for DAY ONE coverage, meaning your burial insurance is guaranteed to be paid from the time the first payment is received. The entire process can be turned around in about a day and there are no medical exams needed.

For those folks who might have a red flag in their medical history- don’t worry- you can get burial insurance too! Assurance Life has companies who offered Guaranteed Life Insurance for Seniors policies, meaning your approval is guaranteed! There is a waiting period but that is still a great option for the small percentage of clients who can’t get approved for day one coverage.

Burial Insurance- When to buy it

How does burial insurance work?  You have read about the who, what, where, and how of it- all that is left is the WHEN!  When do you buy burial insurance? If you are someone who falls into the “who needs it category,” meaning you do not currently have the ability to pay for your funeral and final expenses on behalf of your family, then the answer is NOW.  Buy burial insurance NOW. People tend to procrastinate these kinds of arrangements when really, what could be more important than protecting your family from the financial burden and the awful memories of struggling to take care of your funeral and memorial service.

You will be amazed by the peace of mind that comes with buying a burial insurance plan that you know will take care of business when you can’t. Any other questions you might have about how does burial insurance work- Assurance Life can help you with today.  Don’t delay…