The Best Burial Insurance Guide for Pennsylvania Seniors

If you are looking for burial insurance in Pennsylvania, you may be wondering how much coverage you need, what it costs, whether you will need a medical exam, and which insurance company may be best for your health and age.

This Pennsylvania burial insurance guide explains how final expense insurance works and how seniors can compare burial insurance quotes before choosing a policy.

As we get older, many of us begin thinking more seriously about what our families would have to handle financially after we’re gone.

Funeral and burial expenses can create an unexpected financial burden for children, spouses and other family members. For people who don’t want their loved ones paying these expenses out of savings or going into debt, burial insurance — also called final expense insurance — may be worth considering.

What Is Burial Insurance?

Burial insurance is generally a smaller permanent life insurance policy designed to provide money to your beneficiary after your death.

You may also hear it called:

• Final expense insurance
• Funeral insurance
• Burial life insurance
• Senior life insurance

Unlike traditional term insurance that expires after a specified number of years, many burial insurance policies are whole life insurance policies designed to remain in force for life as long as required premiums are paid.

The death benefit is paid to the beneficiary, who can generally use the money for funeral expenses, burial or cremation costs, medical bills, outstanding debts or other financial needs.

Why Pennsylvania Seniors Buy Burial Insurance

For many families, funeral planning remains a mystery until someone dies.

If death occurs unexpectedly, families can suddenly find themselves making emotional and expensive decisions within a very short period of time.

Even when death is expected, determining how to pay for everything can still be difficult.

Pennsylvania seniors frequently consider final expense insurance because they don’t want children or other family members responsible for these costs.

Funeral Expenses to Consider in Pennsylvania

When determining how much burial insurance you may need, think beyond just the cost of a burial plot.

Potential expenses can include:

• Funeral home services
• Cemetery expenses
• Burial plot
• Casket
• Vault
• Cremation
• Urn
• Transportation
• Flowers
• Obituary expenses
• Memorial or funeral service
• Outstanding medical bills
• Small debts or credit card balances

Burial or Cremation?

Your desired funeral arrangements can significantly affect how much final expense coverage you need.

Consider discussing your preferences with your family before purchasing coverage.

Questions to consider include:

• Do you prefer burial or cremation?
• Is there a particular Pennsylvania funeral home you would like your family to use?
• Do you already own a cemetery plot?
• Would you like a traditional funeral or a smaller memorial service?
• What type of casket or urn would you prefer?
• Do you have savings specifically designated for final expenses?

Once you have an approximate idea of the expenses your family could face, it becomes easier to determine an appropriate amount of coverage.

How Much Pennsylvania Burial Insurance Can You Buy?

Final expense policies generally offer smaller death benefits than traditional life insurance.

Depending upon the insurance company, available coverage may start at only a few thousand dollars and can extend to $25,000, $50,000 or more.

The appropriate amount depends on what you want the policy to accomplish.

Someone who already owns a cemetery plot and has substantial savings may need considerably less coverage than someone who wants the insurance policy to cover most of his or her final expenses.

Can Pennsylvania Seniors Get Burial Insurance Without a Medical Exam?

Yes. Many burial and final expense insurance policies available to Pennsylvania residents do not require a traditional medical examination.

That means you may not need a nurse to come to your home for blood work or a physical examination.

However, “no medical exam” does not necessarily mean “no health questions.”

Many companies use a simplified underwriting process that asks several health questions and may review available prescription or other underwriting information.

Three Common Types of Pennsylvania Burial Insurance

1. Level Benefit Final Expense Insurance

With a level benefit policy, the full death benefit is generally available from the beginning of the policy, subject to the terms and exclusions of the contract.

Applicants normally have to answer health questions to qualify.

2. Graded or Modified Benefit Insurance

Someone with certain health conditions may not qualify for an immediate full death benefit but could potentially qualify for a graded or modified benefit policy.

These policies can limit the death benefit for non-accidental death during an initial period, so it is very important to understand exactly how the policy works before purchasing it.

3. Guaranteed-Issue Life Insurance

Guaranteed-issue coverage may be available without health questions for applicants who meet the insurer’s eligibility requirements.

These policies commonly have a waiting or graded-benefit period for death from natural causes and may cost more for the amount of coverage provided.

For that reason, don’t automatically assume guaranteed issue is your best option simply because you have health problems.

4 Steps to Apply for Burial Insurance in Pennsylvania

Step 1: Decide How Much Coverage You Need

Estimate your expected funeral expenses and determine how much money you would like to leave your beneficiary.

Step 2: Compare Multiple Insurance Companies

Don’t choose a burial policy solely because you saw a television commercial or received an advertisement in the mail.

Premiums and underwriting requirements can vary among insurance companies.

Step 3: Complete the Application

Many final expense applications can be completed electronically or over the phone. Depending on the policy, you may be asked questions concerning your medical history, prescriptions and other underwriting information.

Step 4: Review the Policy Carefully

Before accepting coverage, make sure you understand:

• Death benefit
• Monthly premium
• Whether premiums are guaranteed
• Whether the death benefit is immediate or graded
• Any waiting period
• Policy exclusions
• Beneficiary designation

What Ages Can Buy Burial Insurance in Pennsylvania?

Age limits depend upon the insurance company and specific policy.

Many final expense products are designed primarily for adults in their 50s, 60s, 70s and 80s. Some carriers may accept younger applicants, while maximum issue ages vary by company and product.

Instead of assuming you’re too old for coverage, compare the options available for your actual age and health.

Burial Insurance for Pennsylvania Seniors Over 60

Your 60s can be an excellent time to review final expense planning.

You may still have several insurance companies and underwriting options available, depending on your health.

Buying earlier can also be advantageous because life insurance premiums generally increase with age.

Burial Insurance for Pennsylvania Seniors Over 70

Pennsylvania residents in their 70s may still have multiple final expense options.

At this age, health history becomes particularly important when comparing companies. An independent insurance broker can compare underwriting guidelines to determine which carriers may be more appropriate for your situation.

Burial Insurance for Pennsylvania Seniors Over 80

Coverage can still be available after age 80, although the number of available companies and policy options becomes more limited.

If you’re over 80, it becomes especially important to compare premiums, maximum issue ages, coverage amounts and whether the policy provides an immediate or graded death benefit.

Can You Get Burial Insurance With Health Problems?

Possibly.

Having diabetes, heart problems or another medical condition does not automatically mean you cannot obtain final expense life insurance.

Insurance companies have different underwriting guidelines.

One carrier may decline an applicant while another may offer coverage.

This is one of the primary reasons to compare multiple burial insurance companies rather than submitting applications randomly.

How Much Does Burial Insurance Cost in Pennsylvania?

There isn’t one Pennsylvania burial insurance rate that applies to everyone.

Your premium can depend on factors such as:

• Age
• Gender
• Health history
• Tobacco or nicotine use
• Amount of coverage
• Type of policy
• Insurance company
• Underwriting classification

Generally, purchasing coverage at a younger age results in a lower premium than waiting until later in life.

Should You Buy the Cheapest Burial Insurance?

Not necessarily.

Price matters, but it shouldn’t be the only consideration.

For example, one policy might be cheaper but have a graded death benefit, while another could cost slightly more and provide immediate coverage if you qualify.

You should compare the actual policy benefits, guarantees and insurance company — not just the monthly premium.

What If You Don’t Have Savings for Your Funeral?

For someone without sufficient savings designated for final expenses, burial insurance may provide a relatively simple way to create money specifically for beneficiaries after death.

However, the premium must fit comfortably within your budget.

A policy doesn’t help your family if the premiums eventually become unaffordable and the coverage lapses.

Monthly Payment Options

Many consumers choose to pay their burial insurance premiums monthly through an automatic bank draft.

Depending upon the insurance company, other payment frequencies may also be available.

Ask whether the premium is guaranteed and whether it can increase as you get older.

Why Compare Pennsylvania Burial Insurance Companies?

There is no single “best burial insurance company” for every Pennsylvania senior.

The company that is best for a healthy 62-year-old may not be the best company for a 76-year-old taking several medications.

Different insurance companies can have different:

• Prices
• Age limits
• Health questions
• Underwriting guidelines
• Coverage limits
• Waiting periods

Working with an independent insurance broker allows you to compare options rather than being limited to one insurance company.

Burial Insurance Throughout Pennsylvania

Mintco Financial can help Pennsylvania residents compare burial and final expense insurance options, including seniors in:

• Philadelphia
• Pittsburgh
• Allentown
• Erie
• Reading
• Scranton
• Bethlehem
• Lancaster
• Harrisburg
• York
• Wilkes-Barre
• State College
• And communities throughout Pennsylvania

Get Pennsylvania Burial Insurance Quotes

The best burial insurance policy isn’t necessarily the policy with the biggest advertisement or the lowest advertised price.

It is the policy that fits your age, health, budget and the amount you want to leave your family.

Before purchasing coverage, compare your options and make sure you understand whether your death benefit begins immediately or is subject to a graded or waiting period.

Disclosure: This material is provided for general educational purposes and is not intended as individualized tax, legal or financial advice. Life insurance availability, premiums, underwriting requirements, waiting periods and benefits vary by insurance company and individual circumstances. Policy guarantees are subject to the claims-paying ability of the issuing insurance company. Review the terms of any policy carefully before purchasing coverage.