Understanding Burial Insurance

Burial insurance is often referred to as final expense insurance or funeral insurance. They are all one-in-the-same, but ultimately mean financial coverage for end-of-life needs associated with burial, funerals, and medical debt.

No medical exams or physicals are required before securing burial insurance, and serious health issues or pre-existing conditions won’t prevent acceptance. Unlike many other insurances, final expense insurance is easy to obtain and there is minimal fine print to be concerned about. Here is what you can expect from burial insurance:

• No medical exams required
• Rates are locked in for life and cannot increase
• Coverage will never decrease
• Coverage will never expire or be canceled
• You can build cash value on your final expense insurance, which you can borrow from if you wish to.

So how does burial insurance work? It’s simple. When you pass away, the insurance company will pay out the death benefit via a tax-free check to the beneficiary, or beneficiaries. Despite it being called “burial insurance” the money can in fact be spent on anything, and is up to the discretion of the beneficiary with your final wishes in mind. Typically, beneficiaries use the pay out to cover funeral expenses, burial costs,or to pay medical bills associated with end-of-life care. However, the choice is entirely up to them and they can choose to simply invest that money, save it, or spend it elsewhere.

Who is burial insurance for? Burial insurance, or final expense insurance, is for anyone between the ages of 0 and 85. There are certain limitations, exceptions, and state law requirements for those 0 to 50, however, so the ideal time to get burial insurance is when you are age 50 or up. There are no limitations in terms of health history or medical history.

How do I apply for burial insurance? Applying is simple. Simply fill out the form on this page with your basic information to get the process started. From there, we’ll connect you with the policy that works best for you, and you can enroll directly online.