2019 BEST Burial Insurance for Seniors (Free Quote)
Burial Insurance covers the cost of a cremation, funerals and burials — as well as other unexpected expenditures.
In the event of death of a loved one, you may not always be prepared financially to bear the expenses associated with death.
Therefore, it is crucial for low-income seniors to invest in insurance for funeral costs so that their loved one’s do not have to face this financial burden.
The Cost of Burial in 2019
In fact, the average burial averages between $5,000-$10,000, and that number does not include the funeral service.
Funerals can be as expensive as weddings.
Depending on where funeral services are held and how many people attend, the average funeral can cost between $10,000-$20,000, bringing the final price too as much as $30,000.
This figure does not even factor in medical or attorney expenses, which could cost hundreds of thousands of dollars.
How Much Burial Insurance Cost?
When shopping for funeral insurance, it doesn’t necessarily make sense to go with the same companies you might be familiar with for other types of insurance.
Keep in mind that no single insurer is the best option for everyone and that the policy that’s best for you probably won’t be the policy that’s best for someone else.
Evaluating multiple insurance companies will allow you to find which one(s) will view your health most favorably. Those are the companies that will likely offer you a better deal than the rest.
Advantages of Burial Insurance
Having this type of coverage can be a good thing for certain situations.
Not everyone can get a standard life insurance policy.
Those with chronic diseases such as emphysema or diabetes, high-risk occupations like law enforcement, firefighters, and high-rise construction workers, and those who are elderly often have a hard time getting life insurance.
In those cases, funeral/burial coverage can help offset the costs of your final expenses for your loved ones.
Another situation in which burial insurance might make sense is if you’re reaching retirement age or older and you’ve never saved money for your final expenses. Rather than put those expenses on your loved ones, you may opt for a small burial policy.
Even if you have another life insurance policy, having a separate Burial policy can ensure that all of the life insurance money goes directly to your beneficiaries for them to use, as opposed to having your final expenses cut into that amount.
Mintco Financial Free Burial Life Insurance Quote