Burial Insurance: A Guide to Your Final Expenses – Top Quote Life Insurance

When you pass away, you don’t want your family
to worry about the final burden of paying for your funeral and any debts you’ve left
behind. Your family may struggle to cover the cost of your funeral and have enough left
over for their basic needs without burial or final expense insurance. In this video,
you’ll learn about what these policies cover, and the benefits of buying them.
BURIAL INSURANCE EXPLAINED Burial insurance, or final expense insurance,
is a type of whole life insurance, otherwise known as permanent insurance. These types
of policies are often purchased by senior citizens between the ages of 50-85 years old
that do not require a large amount of life insurance coverage. The amount of coverage
that can be purchased typically ranges from $2,000 to $50,000. The main purpose of burial
and final expense life insurance coverage is to help provide your family with the funds
to pay for either funeral costs, final debts, or both. However, unlike with a traditional
life insurance policy, you’ll face some fairly strict rules about the way the death benefit
associated with final expense insurance can be spent. Additionally, your final expense
insurance won’t expire (there are rare companies that offer term-based burial insurance) meaning
the policy won’t pay out until you’ve passed away.
WHY GET INSURANCE For starters, burial insurance offers permanent
protection. Its whole life insurance design provides a lifetime death benefit protection.
Secondly, it covers the funeral or final expense debts. With the proper planning and enough
life insurance coverage, a final expense life insurance policy can provide the funds needed
for your family and loved ones to pay for your funeral and burial costs and can also
help assist in the payoff of any extra final expense debts. It’s also easy to qualify for
a policy. Level, graded and guaranteed issue coverage options provide a solution for just
about everyone requiring life insurance coverage. Forth on the list is the fact there is no
exam required to apply. This means, no appointment with an examiner, no needles and no urinalysis
or blood pressure readings. Finally, there are quick approval times. Since final expense
insurance does not require an exam, the application process consists of answering medical questions
to determine what type of coverage you will qualify for. By eliminating the exam portion
of the application process, approval times are made much faster allowing for you to quickly
get a life insurance policy. OTHER THINGS TO CONSIDER
Of course, when you’re deciding on a specific insurance provider, as well as the type of
final life insurance that’s the best fit for you, there are still a few items you need
to consider. Ask about how rates are determined, when the policy will expire, and if the company
offers level premium payments. Using these three questions and your own judgment, you
can begin looking into the different burial insurance types. This includes level death
benefit where 100% of the death benefit is guaranteed to pay out at the death from day
one. There’s also modified & graded death benefit coverage which has a short waiting
period before it pays. A third option is guaranteed acceptance which is like graded death benefit
coverage but under this selection, you’re approved no matter the health conditions.
There are many burial insurance providers and policies available, fitting all needs.
If you’d like to get our picks for the best providers or learn more about burial insurance
then visit our blog post linked in the description. Or, come by our site for more insurance reviews
and guides. And if you enjoyed this video, be sure to like, comment and subscribe!

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