What Is Burial Insurance?

Jul 6, 2021 | Burial Insurance | 0 comments

Every year in the US, a little under three million people die. That leaves their friends and family to mourn. It also leaves them to deal with things like executing the will, disposing of property, and making funeral arrangements.

Dealing with the funeral arrangements is both psychologically taxing and, for most, unexpectedly expensive. The average funeral in the US runs families anywhere from $7000-$10,000. If you want anything special, you can expect that number to go up significantly.

That’s why many people include burial insurance in their end-of-life planning. Never heard of burial insurance? Keep reading for our quick guide on what burial insurance is and what it covers.

What Is Burial Insurance?

Burial insurance or funeral insurance is a type of life insurance policy. In fact, dealing with funeral expenses is one of the big reasons people get life insurance. In the case of final expense insurance, though, it’s a standalone policy that you get specifically for funeral expenses.

This can prove particularly attractive for those with specific ideas in mind for their own funerals, such as a particular kind of casket or headstone. Those without much in the way of family may also take out policies like this to ensure they get the kind of funeral they want.

Common Funeral Expenses

Since the cost of funerals so often catch people off guard, it’s often helpful to understand what services and costs generate those big bills. Some of the more common funeral expenses include:

  • Embalming
  • Casket
  • Plot
  • Cremation
  • Transportation
  • Headstone

Other costs can include bringing in clergyperson for the ceremony, funeral home services, and the opening/closing of the grave itself. The biggest expenses are typically the funeral home and casket, which often make up around half of the overall costs for a funeral.

Burial Insurance Policies

You can get a final expense insurance plan without much difficulty. Most insurance companies offer them. You can also look for a dedicated funeral insurance company.

The plans start at around $10,000. If you plan a more extravagant funeral, you can typically get policies up to $25,000. You can speak with a burial insurance company representative to find out the specific range of policies they offer.

The best burial insurance is, of course, the insurance you can afford. Fortunately, these policies typically come with reasonable payments. As a rule, they don’t call for an extensive medical exam either.

Final Expense Insurance and You

Funeral insurance offers you a way to ensure you get the funeral you want. It also lets you cover the costs yourself, rather than making it a problem for your estate or your family.

As a bonus, you can get a burial insurance policy through most regular insurance companies, as well as life insurance and even dedicated funeral insurance companies. You can select a policy that is appropriately sized for your funeral arrangement plans. Plus, the premiums run toward the inexpensive.

USALife Insurance Services specializes in life insurance, including burial insurance. For a quote on final expense insurance, contact USALife Insurance Services today.

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