Most insurance policies are bought on the basis of “if” some event will occur, however, when it comes to burial insurance, it’s really a question of “when.” As the prices of burials and funerals increase, it’s becoming increasingly important for seniors to consider taking out insurance policies to cover their burial expenses. A typical funeral can cost between $5,000 and $10,000, depending on the kind of service and the choice of casket and funeral plot. Even for people that have life insurance policies, these costs can create a great burden that can add onto the stress of losing a loved one. Burial insurance for seniors can help to protect their loved ones from unexpected costs and debts associated with the burial.
Most burial insurance for seniors can be personalized to suit the funeral wishes of the individual that is buying the policy. In order to do this, individuals must first shop around at their funeral home of choice to discuss burial arrangements with a funeral director. The funeral director will be knowledgeable in the kinds of funeral options that are available such as caskets, flower arrangements, embalming fees, and funeral plots. The funeral director will then provide an itemized list and breakdown of all the costs and prices that will be involved. It’s important to note that many of these price quotes will not be locked in, meaning that several years down the road, these prices may be significantly higher. After receiving the price quote, individuals looking to purchase an insurance policy can shop around with different companies to find the best burial insurance rates. Most burial insurance plans will not require a person to have a physical before the policy becomes active. However, some policies have a waiting period that lasts a specific amount of time per the policy. Should the insured person die during this period, the policy may not pay the full amount of the policy or cover anything at all. These kinds of policies have the advantage of having lower premiums and fees, which make them attractive to seniors that are in reasonably good health.
Death is unpredictable, yet an inevitable part of life. By contacting an insurance agent to get the latest burial insurance quotes, a person can protect his or her loved ones after death. Fill out the form on our homepage to get all the information you need.