Top 10 Best Burial Insurance Companies of 2018

Written by AssuranceLife.org

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Are you looking for the BEST Burial Insurance Companies of 2018? How do you know which Burial Insurance companies to choose from? How do you avoid mistakes when buying burial insurance? With numerous Final Expense Insurance companies to select from, its important to allow an expert like Assurance Life help you in this process. Assurance Life has the knowledge and expertise to make sure you get the BEST Burial Insurance Plan at the lowest price. Assurance Life ONLY specializes in whole life insurance. This is important for you to know because ALL Burial Insurance Companies will view your individual health differently. So making sure you are placed with the RIGHT plan based on YOUR health conditions could save you a ton of money over time. The following article will give you an overview on how Assurance Life selected the Top 10 Best Burial Insurance companies of 2018.

What do we look for in the BEST Burial Insurance Companies

  • Company History – Financial Strength
  • Underwriting Strengths
  • Coverage/Policy Features
  • Competitive Pricing
  • Easy Application Process

Our Top 10 Best Burial Insurance Companies of 2018

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List of Top 10 Best Burial Insurance Companies of 2018:

  1. Mutual of Omaha
  2. Royal Neighbors of America
  3. Liberty Bankers Life
  4. AIG – American General
  5. Assurity Life Insurance Company
  6. Foresters
  7. Gerber
  8. Security National Life Insurance Company
  9. Standard Life and Casualty
  10. Family Benefit Life Insurance Company

 Mutual of Omaha– United of Omaha Life Insurance

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Founded in 1909
Headquarters – Omaha, NE
A.M. Best Rating – A+

Mutual of Omaha Best Underwriting Strengths (Living Promise)

• Competitive underwriting for most minor health issues
• Aneurysm/Circulatory Disorder not on application
• Diabetes (if diagnosed after age 50)
• Sleep apnea
• Favorable Medication List

Mutual of Omaha Best Policy Features (Living Promise)

• Face Amounts up to $40,000
• Accelerated Death Benefit Rider
• Age coverage 45-85
• Easy online application process
• Often best priced burial insurance option
• Excellent rates for ages 80-85

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Brief Company history of Mutual of Omaha

Mutual of Omaha was established in 1909. First licensed in Nebraska under the name Mutual Benefit Health & Accident Association. Merged with Omaha Heath & Accident Association in 1918 and grew the company in the 1920’s to offer insurance in 15 states. In 1950 company shortened name to Mutual of Omaha and put in place their famous logo which is still used today. Introduced Mutual of Omaha’s Wild Kingdom Television program in the 1960’s which ran for over 25 years. Later brought back in 2002 with a new series on Animal Planet. Mutual of Omaha currently has over 5000 employees with over 38.5 billion in assets. Fortune 500 company with currently over 4 million policyholders. Mutual of Omaha is definitely one of best burial insurance companies to work with.

Living Promise – Whole Life Insurance

Level Benefit Plan:

• Death Benefit: 100 %
• Issue Age: 45-85
• Face Amounts: $2000-$40,000 (in WA -starts at $5000)
• Standard Tobacco/Nontobacco
• Available in ALL 50 States
• Easy Online Application – ONLY Sold through Agencies
• Underwriting Requirements: Height/Weight Chart, MIB, Pharmaceutical Check, Random phone interviews
• Accelerated Death Benefit Rider

Graded Benefit Plan:

• Death Benefit: First 2 years, premiums paid plus 10 percent. After 2 years, full benefit is paid.
• Issue Age: 45-80 (50-75 in NY)
• Face Amounts: $2000-$20,000 (starts at 5,000 in WA)
• Standard Tobacco/Nontobacco
• Available in ALL States except AR, MT and NC
• Underwriting Requirements: Height/Weight Chart, MIB, Pharmaceutical Check, Random phone interviews

Mutual of Omaha Sample Rates
MaleMaleFemaleFemale
Age5,00010,000Age5,00010,000
4514.3225.454512.9022.61
5016.1829.165013.9424.67
6022.9842.766018.0432.87
7038.4573.707028.2253.24
8067.93132.658050.8298.43
8593.18183.158569.55135.90

More information on Mutual of Omaha

Royal Neighbors of America

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Founded in 1895
Headquarters – Rock Island, IL
A.M. Best Rating – A-

 

Royal Neighbors of America Best Underwriting Strengths

  • No Height/Weight Chart
  • Bipolar/Depression
  • VERY Diabetic Friendly
  • Neuropathy
  • TIA – Mini Strokes

Royal Neighbors of America Best Policy Features

  • Exclusive Member Benefits
  • Accelerated Living Benefit Rider
  • Age coverage 50-85
  • Easy phone application process
  • True Graded Plan
  • Competitive Pricing

Brief Company history of Royal Neighbors of America

Royal Neighbors of America was founded in 1895 as a fraternal organization by nine women. Royal Neighbors of America is one of the largest insurance companies in the US lead by women. RNA continues to enrich the lives of woman across the country with focus of financial stability and helping them empower their lives through service, community and giving back. Royal Neighbors of America has assets totaling almost 900 million and life insurance in force totaling almost 3 billion. RNA is a go to favorite for one of our burial insurance companies.

Simplified Issue Whole Life

SIWL Plan:

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  • Death Benefit: 100 %
  • Issue Age: 50-85
  • Face Amounts: $5,000-$25,000
  • Standard Tobacco/Nontobacco
  • Available in 44 States
  • Easy Phone Application
  • Underwriting Requirements: MIB, Pharmaceutical Check, Phone Interview
  • Accelerated Living Benefit Rider

Graded Benefit Plan:

  • Death Benefit: Death benefit is limited during first two years. 30% of face amount in first year, 70% of face amount in second year.
  • Issue Age: 50-85
  • Face Amounts: $5000-$10,000
  • Standard Tobacco/Nontobacco
  • Available in 44 States
  • Underwriting Requirements: MIB, Pharmaceutical Check, Phone Interview

Royal Neighbors of America Sample Rates

MaleMaleFemaleFemale
Age5,00010,000Age5,00010,000
5021.1139.615018.1633.71
6026.3650.116020.4138.21
7038.7174.817029.1155.61
8078.21153.818056.51110.41
85107.66212.718575.71148.81

 

Liberty Bankers Life

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Founded in 1958
Headquarters – Dallas, TX
A.M. Best Rating – B+

 

Liberty Bankers Life Underwriting Strengths

  • COPD
  • Chronic Bronchitis
  • Hepatitis
  • Cirrhosis
  • Liver or Kidney Disease
  • Systemic Lupus
  • Parkinson’s Disease

Liberty Bankers Life Best Policy Features

    • Age coverage 18-80
    • Standard Plan
    • Paperless application process
    • Accelerated Death Benefit Rider (Preferred/Standard)

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Brief Company history of Liberty Bankers Life

Liberty Bankers life was established in 1958 in Pennsylvania. The company grew rapidly over the years adding different insurance and annuity products.  Currently now licensed in 47 states and with total assets exceeding 1.75 billion. LBL has over 6,000 agents Nationwide offering their life insurance products and over 4,000 agents selling their annuity line. LBL is one of our favorite best burial insurance companies.

Simpl Final Expense Program

Simpl Preferred Plan & Simpl Standard

  • Death Benefit: 100 %
  • Issue Age: 18-80
  • Face Amounts: $3000-$30,000
  • Standard Tobacco/Nontobacco
  • Available in 47 States
  • Easy Phone Application
  • Underwriting Requirements: Height/Weight Chart, MIB, Pharmaceutical Check, Phone Interview
  • Accelerated Death Benefit Rider

Simpl Modified Plan:

  • Death Benefit: First 3 years, premiums paid plus 10 percent. After 3 years, full benefit is paid.
  • Issue Age: 40-80
  • Face Amounts: $1000-$20,000
  • Standard Tobacco/Nontobacco
  • Available in 47 States
  • Underwriting Requirements: Height/Weight Chart, MIB, Pharmaceutical Check, Phone Interviews

Liberty Bankers Life Sample Rates

MaleMaleFemaleFemale
Age5,00010,000Age5,00010,000
5017.5730.515015.1025.57
5520.7136.795517.5130.40
6025.2145.806019.6534.67
6530.2855.946523.7242.81
7038.9773.317029.7154.79
7552.39100.157540.4176.20
8075.71146.808056.89109.16

 

AIG – (American International Group)

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Founded in 1919
Headquarters – New York City, New York
A.M. Best Rating – A

 

AIG Best Underwriting Strengths (Guaranteed Issue)

  • No Health Questions
  • Covers ALL HEALTH CONDITIONS
  • Acceptance is GUARANTEED

 

AIG Best Policy Features (Guaranteed Issue)

    • Face Amounts up to $25,000
    • Age coverage 50-85
    • Easy online application process
    • Chronic Illness Acceleration Benefit
    • Low Premiums for Guaranteed Issue

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Brief Company History of AIG

American International was founded in 1919. AIG is the 87th largest public company in the world with over 50,000 employees. Currently AIG headquarters is in New York City but have offices in over 80 different countries. AIG has total assets totaling over 498 billion reported in 2017. AIG is definitely our best burial insurance companies for guaranteed issue.

 Guaranteed Issue – Whole Life Insurance

Guaranteed Issue Plan:

  • Death Benefit: 2 year waiting period – 110% of premiums paid within first 2 years. Full death benefit paid after 2 years. (Accidental Death full face amount)
  • Issue Age: 50-85
  • Face Amounts: $5000-$25,000
  • Available in 49 States (Not available in NY)
  • Easy Online Application
  • Chronic Illness Acceleration Benefit

AIG Sample Rates

MaleMaleFemaleFemale
Age5,00010,000Age5,00010,000
5026.9651.925018.9235.83
5529.2556.505520.9339.86
6032.5863.176023.5745.14
6537.5573.096528.2654.51
7047.5793.147036.2170.41
7563.25124.497548.9195.82
8088.57175.158068.56135.12

More information on AIG

 

Assurity Life Insurance Company

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Founded in 1890
Headquarters – Lincoln, NE
A.M. Best Rating – A-

 

Assurity Best Underwriting Strengths (LifeScape)

  • Congestive Heart Failure
  • Drug & Alcohol Abuse (12 months)
  • Cardiomyopathy (12 months)
  • Stroke (12 months)
  • Aneurysm (12 months)

Assurity Best Policy Features (LifeScape)

  • Face Amounts up to $50,000 (depending on age)
  • Accelerated Benefits Rider
  • Age coverage 0-80
  • Easy online application process
  • Competitive Pricing
  • True Graded Plan

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Brief Company history of Assurity Life Insurance

Assurity has roots going back to 1890. Assurity Life Insurance Company is a mutual insurance organization based in Lincoln, NE. Assurity was formed in 2007 after 3 Lincoln, NE companies merged their companies. (Woodman Accident and Life, Security Financial Life and Lincoln Direct Life. Assurity is currently licensed to do business in 49 states. Company mission statement is “Our core purpose is to help people through difficult times”. One of the better burial insurance companies to work with.

LifeScape – Simplified Whole Life

Level Benefit Plan:

  • Death Benefit: 100 %
  • Issue Age: 0-80
  • Face Amounts: $5000-$50,000 (depends on age)
  • Standard Tobacco/Nontobacco
  • Available in 49 States
  • Easy Online Application
  • Underwriting Requirements: Height/Weight Chart, MIB, Pharmaceutical Check, Phone Interview
  • Accelerated Benefits Rider

Graded Benefit Plan:

  • Death Benefit: Limited First 2 years – 40% of the benefit amount in Year 1 and 75% in Year 2.
  • Issue Age: 45-80
  • Face Amounts: $5000-$35,000 (depends on age)
  • Standard Tobacco/Nontobacco
  • Not available in (NY, WA and WV)
  • Underwriting Requirements: Height/Weight Chart, MIB, Pharmaceutical Check, Phone Interview

Modified Benefit Plan:

  • Death Benefit: Return of premium plus 10% first 2 years.
  • Issue Age: 40-80
  • Face Amounts: $5000-$25,000
  • Standard Tobacco/Nontobacco
  • Not available in (AR, MA, MN, MO, NV, NC, PA, WA and WV)
  • Underwriting Requirements: Height/Weight Chart, MIB, Pharmaceutical Check, Phone Interview

Assurity Life Insurance Sample Rates
MaleMaleFemaleFemale
Age500010000Age500010000
5015.5128.825013.8425.48
5518.2434.285515.7929.37
6021.9341.656018.4734.74
6528.0453.876523.1144.03
7037.6273.057029.356.41
7551.37100.557539.5576.89
8078.88155.578058.04113.89

Foresters Financial

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Founded in 1874
Headquarters – Edison, NJ (Life Insurance Division)
A.M. Best Rating – A

Foresters Best Underwriting Strengths (PlanRight)

  • Diabetic Friendly
  • Depression, Bi-Polar, Schizophrenia
  • Atrial Fibrillation (AFIB)
  • Multiple Sclerosis or Neurological Disorders
  • First Fill on Prescription Check

Foresters Best Policy Features (PlanRight)

  • Face Amounts up to $35,000 (depending on age)
  • Common Carrier Accidental Death Rider
  • Unique member benefits at no additional costs
  • Easy online application/phone process
  • True Graded Plan

Brief Company history of Foresters Financial

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Foresters was established in 1874. In 2015, Foresters changed its brand name to Foresters Financial. Foresters Financial is now an international financial/insurance provider with more than 3 million clients/members in US, Canada and United Kingdom. Specializing in life insurance, savings, retirement and investment needs. What makes Foresters different is the unique benefits available to its members. Foresters has invested heavily in the communities. Each year, they hold several annual events for families and children. Also, they have funded and built over 150 playgrounds throughout the US as a way to give back. Definitely one of the better burial insurance companies to work with.

Foresters – PlanRight -Whole Life Insurance

Foresters Level Benefit Plan:

  • Death Benefit: 100 %
  • Issue Age: 50-85
  • Face Amounts: $2000-$35,000 (50-80) up to 15k (81-85)
  • Standard Tobacco/Nontobacco
  • Available in ALL 50 States
  • Easy Online Application & Phone Application
  • Underwriting Requirements: Height/Weight Chart, MIB, Pharmaceutical Check, Phone Interview
  • Accelerated Death Benefit Rider
  • Common Carrier Accidental Death Rider

Foresters Graded Benefit Plan:

  • Death Benefit: 30% of face amount in Year 1 and 70% of face amount in year 2.
  • Issue Age: 50-85
  • Face Amounts: $2000-$20,000 (50-80) up to 10k (81-85)
  • Standard Tobacco/Nontobacco
  • Available in ALL States
  • Common Carrier Accidental Death Rider
  • Underwriting Requirements: Height/Weight Chart, MIB, Pharmaceutical Check, Phone Interview

Foresters Modified Benefit Plan:

  • Death Benefit: ROP (Return of Premium) first 2 years plus 10% annual interest
  • Issue Age: 50-80
  • Face Amounts: $2000-$15,000
  • Standard Tobacco/Nontobacco
  • Available in ALL states
  • Common Carrier Accidental Death Rider

Foresters Sample Rates

MaleMaleFemaleFemale
Age5,00010,000Age5,00010,000
5017.5732.005014.6026.05
5520.0136.865517.1531.16
6024.1745.186019.2835.41
6529.4555.756522.9742.80
7038.0372.917028.2853.42
7552.92102.697539.1175.07
8074.94146.748057.12111.08

 

Gerber Life Insurance

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Founded in 1967 (Life Division)
Headquarters – White Plains, New York
A.M. Best Rating – A

Gerber Life Insurance Best Underwriting Strengths

  • No Health Questions
  • Covers ALL HEALTH CONDITIONS
  • Acceptance is GUARANTEED

 Gerber Life Insurance Best Policy Features (Guaranteed Life Product)

    • Face Amounts up to $25,000
    • Age coverage 50-85
    • Easy online application process
    • Payment options – Checking, Savings or Credit Card
    • Low Premiums for Guaranteed Issue
    • Available in 49 States (Not available in MT)

Brief Company History of Gerber Life Insurance

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Gerber Life Insurance was founded in 1967. It is headquartered in White Plains, New York. Gerber Life Insurance is now licensed to provide life insurance in ALL of the US, Canada and Puerto Rico. Gerber currently has over 3.3 million policies in force totaling over 45 billion dollars. Gerber Life Insurance is one of the largest direct marketed life insurance companies in the United States. Gerber another best burial insurance companies for no health questions applications.

Guaranteed Life – Whole Life Insurance

Guaranteed Life Plan:

  • Death Benefit: Graded Death Benefit -2 year waiting period – 110% of premiums paid within first 2 years. Full death benefit paid after 2 years. (Accidental Death full face amount)
  • Issue Age: 50-85
  • Face Amounts: $5000-$25,000 (only $15,000 in SD)
  • Available in 49 States (Not available in MT)
  • Easy and Simplified Application Process

Gerber Sample Rates

MaleMaleFemaleFemale
Age5,00010,000Age5,00010,000
5022.5044.095017.6934.47
5529.4357.935522.6044.28
6032.4063.896025.9951.06
6543.0485.166531.7662.61
7050.0599.187038.2375.53
7570.22139.527554.54108.17
80124.12247.328088.64176.37

More information on Gerber

 

Security National Life Insurance Company

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Founded in 1965
Headquarters – Salt Lake City, UT
A.M. Best Rating – A

Security National Life Best Underwriting Strengths (Simple Security Plan)

  • Liberal on Maintenance Medications
  • Atrial Fibrillation (AFIB)
  • Good option if on Oxygen (Modified)
  • First Fill on Prescription Check
  • Modified Plan Pricing

Security National Life Best Policy Features (Simple Security Plan)

  • Will take Direct Express Card
  • Age Limits up to 90 (Preferred/Standard)
  • Age Limits start at 40 for all Plans
  • Modified Plan – (can’t answer more than 3 questions yes)
  • Competitive Pricing

Brief Company history of Security National Life

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Security National Life Insurance Company started in 1965. Currently, headquartered in Salt Lake City, UT. Security National Life specializes in life insurance for Burial Expenses, Funeral Services and other business type services. SNL has had some recent growth and forward thinking. SNL was the first Funeral Insurance company who offered a mobile app. Currently, SNL has over 1.8 billion worth of life insurance in-force. One of our favorite door to door burial insurance companies.

Security National Life Insurance – Simple Security Plan

Security National Life Preferred Benefit Plan:

  • Death Benefit: 100 %
  • Issue Age: 40-90
  • Face Amounts: 40-75 $2500-$35,000 – 76-80 up to $15,000 – 81-90 up to $10,000
  • Standard Tobacco/Nontobacco
  • Easy paper application – No phone interview required
  • Underwriting Requirements: Height/Weight Chart, MIB, Pharmaceutical Check (First Fill)
  • Accidental Death Benefit Rider

Security National Life Standard Benefit Plan:

  • Death Benefit: 100%
  • Issue Age: 40-90
  • Face Amounts: 40-75 $2500-$25,000 – 76-80 up to $15,000 – 81-90 up to $10,000
  • Standard Tobacco/Nontobacco
  • Accidental Death Benefit Rider
  • Underwriting Requirements: Height/Weight Chart, MIB, Pharmaceutical Check (First Fill)
  • Easy paper application – No phone interview required

Security National Life Modified Benefit Plan:

  • Death Benefit: ROP (Return of Premium) first 2 years plus 10% annual interest
  • Issue Age: 40-85
  • Face Amounts: 40-75 $2500-$25,000 – 76-80 up to $15,000 – 81-90 up to $10,000
  • Standard Tobacco/Nontobacco
  • Underwriting Requirements: Height/Weight Chart, MIB, Pharmaceutical Check (First Fill)
  • Easy paper application – No phone interview required

Security National Life Sample Rates

MaleMaleFemaleFemale
Age5,00010,000Age5,00010,000
5015.6627.925013.9024.40
5519.0834.765516.4529.50
6023.4543.496019.8836.35
6529.0654.716524.2044.99
7036.7170.017029.0754.73
7549.1394.877538.9374.47
8067.09130.788052.30101.21

Top Ten Reviews Next Steps

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Now that you have information about the top ten burial insurance companies, what are your next steps to choosing a company and securing a whole life insurance policy to protect your family from the high costs of final expenses. It can be overwhelming to sort through the various options and niches that each of the top ten companies has. Even though the application process is a simple one with quick approvals, to compare burial insurance in different amounts with a large number of companies is time consuming. The best way to save time and be sure you are getting the most coverage for the lowest payments is to allow a broker like Assurance Life assist you in the process. Most people picture life insurance as something they have through an employer benefit or their local insurance agent. However, in both those cases, your options are limited to the one company that the employer or insurance agent is affiliated with. By using a broker, you have access to the top ten burial insurance companies and even several others if needed so that based on your age and medical profile, you can get the best possible coverage. Brokers like Assurance Life are able to sort through the many options that the different companies offer to find the one that is best for you.

Get Started-

To begin, you will want to have some idea how much burial insurance you would like and possibly compare quotes for an amount slightly above and below what you think you need. The average funeral cost around the country is $10,000. Usually people would like a little extra as a buffer so common comparisons for death benefits on a burial insurance plan are $10,000, 15,000, and 20,000 for a customer wanting $15,000 of coverage. That way you can see what amount fits into your budget and often people are surprised that they can afford a little more than they think they need which allows for rising costs of funerals or even leaving a little extra money to family members.

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Complete request for FREE QUOTE-

A request for a free quote is a quick and easy process with Assurance Life. The online questions are short and simple and once the quote is returned, a specialist can assist you with comparing options and finding the company that fits your needs. One example of why it is important to use the expertise of a broker are that some companies mention only cigarette smoking in their questionnaire meaning cigar smoking or tobacco chew isn’t considered a red flag for increasing the monthly payment. Another example would be the length of time you may have been taking a medication or how long ago you had a surgery or health condition that has resolved. Each company looks at the length of time on medications or since a health complication differently so based on your profile, a broker can be sure to direct you to the best company for your individual needs.

Secure Approval-

Once the quotes are received, you will choose the plan that is best for your financial needs and budget and get your burial insurance policy started. For about 90% of applicants, they are approved for DAY ONE coverage which is also called preferred coverage based on their age and medical profile. This means their burial insurance starts on the first day the monthly payment is made. With all burial insurance, or whole life insurance policies, the policies NEVER expire and the monthly payments are never raised. This continues as long as payments are made and the funeral insurance policy is in effect. For some customers with more serious health history, about 10% of those will qualify for graded or a GUARANTEED ISSUE plan. These plans either phase in the death benefit or have a two year waiting period. The good news is that everyone under the age of 85 can get approved for some type of burial insurance regardless of health history through the GUARANTEED ISSUE plan. Even with a guaranteed issue burial insurance plan, there are choices of what company to use so a broker can find you the one that fits your needs with the most coverage at the lowest monthly payment.

Final details-

app

Once you choose the death benefit amount and what company fits your needs, you are able to choose the exact day of the month for your payment to be due. Since many folks in retirement years receive their income on a certain day of the month, Assurance Life can set it up to have your burial insurance premiums paid on the day that is best for your monthly budget. You will also choose a beneficiary or even more than one beneficiary if needed to name in your whole life insurance plan. This person will receive the payment of the death benefit when you pass away so you will want to choose someone who understands your wishes and can take care of the responsibilities needed for your final arrangements. It is a gift to your family for your final expenses to be paid for through your burial insurance policy and one of the important steps is making sure they understand your burial wishes. Once you are signed up, have a payment date selected and have named your beneficiary, the application is submitted and final approval happens usually within one hour. You will have the peace of mind knowing your family is protected from the financial burden of paying for funeral and final expenses.

Thankfully there are many wonderful companies assisting people all over the country with their burial insurance needs including the Top Ten Best Burial Insurance Companies of 2018. We hope it has been helpful to compare information about these final expense companies and get an idea of how to get started with your burial insurance plan. Assurance Life is here to help in any way. Just call 800-517-0810 and one of our specialists can get you started!

 

 

About AssuranceLife.org
About AssuranceLife.org

Assurance Life works with individuals nationwide to secure the best life insurance rates. With access to top rated insurance companies, we always find the lowest rates regardless of medical conditions, age, or budget.

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