Burial Insurance – Funeral Insurance

Planning a funeral for a loved one can be expenses, and if you have never had to do this before, you might be unaware of all the involved expenses.  Buying a casket, flowers, grave markers and obituaries are all part of a standard traditional funeral. If your loved was not covered by life insurance, the costs can be a bit overwhelming. For this reason, there are many companies offering burial insurance which allows the funeral expenses to be covered when they are needed.  Listed below are some reasons to consider getting burial insurance as well as some details of what it covers.

Is Burial Insurance Necessary?

Even a simple funeral, there are certain expenses that are quite expensive such as:

  • Funeral Casket
  • Hearse and limousines
  • Floral tributes
  • Embalming as well as preparing the body for viewing
  • Obituary fee for the newspaper and Funeral or Memorial Service Program
  • Funeral home or church expenses. Usually includes viewings and some services
  • Headstone or Grave marker
  • Opening and closing of grave site

Even when choosing a simple service, or choose cremation, you will still need to pay for some of these funeral costs.  Expect costs to range from $3,000 to $10,000 in the United States for regular funeral costs, and this will largely depend on the style of the funeral and burial.  Trying to come up with this kind of money in very short notice is difficult for most people and next to impossible for others, which makes some kind of insurance nearly necessary.

Why Not Just Purchase Life Insurance?

If you’ve come to the conclusion that it is very important to have some kind of insurance to ease the burden on family members after your passing, you might think to simply buy life insurance.  In some cases, this will work just fine, although in other situations it can be very difficult. Some things to consider are your age, if you have any current illnesses and depending, you may be paying extremely high premiums.

There aren’t many life insurance companies that offer policies that are “guaranteed issue”, which means that if you have a current illness or even a previous illness, your application will be denied.  However, burial insurance is usually certain to be issued, but sometimes you may be required to take a physical in order to determine how much the premiums will be. Therefore, if you are unable to be accepted for life insurance, burial insurance may be the right choice for you.

What Will Burial Insurance Cover?

The short and simple response is “It depends upon the kind of coverage purchased”.  A common burial insurance is called “Final Expense Insurance” which was put into place to offer those responsible for their loved one sufficient money to pay any outstanding debt, incidental expenses and burial costs.  This type of insurance is generally sufficient to pay for the expenses of a funeral.

When you’re looking at purchasing some type of insurance, take your personal situation into consideration. If and when you’ve been declined for life insurance, take a look into burial insurance. If a concern you have is not burdening loved ones with high expenses after your passing, Final Expense Insurance could be the best way to go.

Whichever decision you decide upon, it is best to get information from several reputable insurance companies that will outline all the options and coverage in order for you to make the most appropriate decision in your unique situation.  After getting the insurance in place, you will have more peace of mind that the service held to honor your existence won’t leave your family left behind with a significant debt.