Have you ever heard of burial insurance? If not, you are in the right place. Indeed, death is given, and who knows when you are next? In that regard, it is of essence that you plan ahead of time, even for your family. Nothing beats being prepared in such instances, and you will attest to this. The reality is that many avoid the thoughts surrounding their departure or that of a loved one because it hurts; however, buying this policy will do you good. The following are things you didn’t know about burial insurance.

The Types of Burial Insurance.

The good thing is that you have policy options to choose from, and they include:

Guarantee Issue.

Here the insurer doesn’t require you to answer any medical questions whatsoever or, worse yet, take an exam. However, it is best to know that it costs more since the likelihood that the insurer will encounter risks is on the higher side. Moreover, the benefits can be modified, which means that the full death benefit will be available only when the policy has been in effect for two or three years. In case you pass on before this period because of natural causes, your beneficiary will receive a limited payout portion. However, if it is due to an accident, they get the payout in full.

Simplified Issue.

In this case, the insurer evaluates your health by going through your medical history using medical history questions. No medical exam will be carried out though there is no guarantee that you will be granted the policy. Some factors may lead to a policy denial, including pre-existing conditions.

Pre-need Insurance.

It entails being in a contract with a funeral service provider. You are required to choose from specific products and services that they offer. However, as opposed to the latter two, the money goes to the funeral service provider and not your beneficiaries.

The Cost of Burial Insurance.

Above everything else, knowing the price helps you in decision-making. You will learn how much money will be required and the like. However, note that this policy is rendered one of the more affordable types of life insurance and ranges between $5000 to $35000. Therefore, consider financial planning if you are going for the costly option.

Persons Liable for Burial Insurance Policy.

You can get coverage if you are between 50 to 85 years. Fortunately, you don’t have to go for a medical exam to be qualified. Therefore, what are you waiting for? This is your cue to buy a funeral insurance policy. Also, you can get a policy whether you have a pre-existing condition or lack health insurance- all dependent on the policy you settle for.

The above shows things you didn’t know about the burial insurance policy. If you are new to this, research will do you good or consult your insurer. However, when looking for the best insurance company, be thorough to avoid any disappointments and take your time. Burial insurance is worth every coin because it will lift any burdens you may leave your family; hence, get it today.