![]() ![]() This means that what you pay in premiums when taken proportionately to the payout upon your death, is larger compared to other insurance policies with bigger coverage. One example is that it doesn’t offer as much value per premium dollar as larger life insurance policies. It’s also very easy to qualify.Īs wonderful as it sounds, the plan has its drawbacks. The policy is a form of permanent life insurance marketed as something crucial to help protect loved ones from huge expenses upon your death.īecause of the small death benefit, the premiums are a lot more affordable compared to a regular permanent policy. However, the beneficiaries can use the death benefit for any purpose they see fit. Whatever it is called, its purpose remains the same: to provide coverage for a person’s funeral costs (which may include medical debt, burial, or cremation costs). It is known by other names – final expense insurance, senior life insurance, or funeral insurance. In its most basic form, a burial insurance policy is nothing more than a small permanent life insurance policy. Just Give a Minute, Compares FREE Quotes & Save! What is Burial Insurance for Seniors? You will also learn about which are the best burial insurance companies and the average pricing of the policy.īut before anything else, let’s first familiarize ourselves with what burial or final expense insurance is. You will learn the differences, if any, between burial & life insurance, the types of policies, which is the best for you as well as how to get a quote for the best policy available to you. In this article, we will tackle the most pressing questions regarding burial insurance. There are many types of life insurance, but one of the most affordable is burial insurance for seniors.
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