What Is Burial Insurance?

—— BurialInsurQuote Team

Burial insurance, also referred to as final expense insurance or funeral insurance, is a type of specialized life insurance coverage, that is generally taken out by individuals to protect their families and loved ones from the high cost of funeral, burial, and other final expenses.

These insurance plans typically consist of whole life insurance, offer permanent coverage (to age 120 or 121), have smaller face amounts (death benefits) in the range of $5,000 – $25,000), and feature simplified underwriting; which simply means that you do not have to undergo a health examination or answer extensive medical questions.

These whole life burial insurance plans also feature, premiums that never increase, death benefits that do not decrease, and cash value accumulation accounts that increase as premiums are paid.

This cash value can be accessed in times of need, via policies loans, or if your policy is surrendered.

Although, burial insurance policies are generally taken out for the sole purpose of covering a one’s final expenses, they can also be purchased to cover other things as well.

Things like:

• Outstanding Medical bills
• Probate fees & Attorney bills
• Unpaid loans & Credit cards
• Replacement Income for a spouse
• Financial gifts to family members & loved ones
• Mortgage and/or Rent payments
• Charitable donations

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