Funeral Insurance

Funeral, or, Final expense life insurance coverage is often called burial insurance and is purchased by those who are considered “seniors,” or between the ages of 50 and 85 – although there are some insurance companies who will sell policies to applicants who are older.

This type of coverage is typically geared towards those who want to ensure that their loved ones will not be saddled with the high cost of a funeral and other related expenses such as a headstone, burial, flowers, and memorial service.

Funeral Expense Insurance is just that, an insurance policy that pays the costs associated with your funeral. The costs of a modest funeral can vary upwards from $5,000 and average around$10,000. There are several different forms of these policies available to assist you with planning for your end of life costs. So, a final expense life insurance policy can help.

Funeral expense insurance can be used to pay for the cost of the funeral alone, or it can cover additional final expenses such as outstanding medical bills, legal costs, or any other debts that you owe, such as credit card bills.

Some of the different types of Burial Insurance policies include:

Preneed Funeral Insurance: This is directly or indirectly linked to a funeral service provider. They have installment payment plans for either 1, 3 5, 7, or 10 years and will remain in effect for your entire life after the premiums are paid. These policies can be either a permanent policy or a term insurance policy. Sometimes you can get a free dinner for attending one of their sales seminars.