Low-Cost Final Expense Burial Insurance | Apply Now

Final expense burial insurance is crucial for seniors. However, many people think of the cost before buying any life insurance. The cost of the insurance is a major factor that prevents them from buying it. Some people do not buy it because of its high cost. The good news is final expense burial insurance has a low cost making it affordable to everyone. The final expense burial insurance aims to serve people and enhance peace of mind. Anyone can afford this insurance because of its affordable premiums. Now you can apply for burial expense insurance without disturbing your financial stability.

Final Expense Insurance

Final expense insurance or burial expense insurance covers your final expenses. It is ideal for families that do not have any resources to cover the end-of-life expenses. This insurance exists to reduce the financial burden on your loved ones. Burial expense insurance supports your families in the most emotional times of their lives. It gives death benefits to your family. With final expense burial insurance, you can cover your medical dues as well. Also, if you have any credit card or mortgage dues, final expense life insurance will cover them. Your family savings will not be disturbed when you have final expense burial insurance. It ensures financial security for your loved ones. When you buy a burial insurance, it’s like leaving a valuable gift for your family. Another good thing about burial insurance is that you do not have to take a medical test for it. You can easily apply and buy it.

Cost of Funeral and Burial services

Final expense insurance plans come with huge benefits. Some of these advantages are as followsThe funeral industry is expensive. The economics of the funeral industry varies with the evolving trends. Funeral and burial services can cost you a fortune. Moreover, the cost of the funeral services is increasing year by year. Statistics show that a funeral can cost a family around $9000. The cost can increase to $13,000. The below table shows the expenses of a funeral with burial.

Services	cost
Basic services	$2000 to $3000
Casket	$3000 to $6000
Embalming	$900
Transportation service	$435
Hearse	$340
Cremation	$650
Additional facilities	$500

Covering such costs becomes a challenging task for a middle-class family. A family that does not have resources to cover the final expenses use the following options:

They take out a loan
They use credit cards
Home equity loans

These options provide you with immediate funds. Yet, these options may not be the best options to choose. Taking out loans or using credit cards can lead to debt accumulation. It will have a negative impact on your credit card.

Alternative options

There are other better options that you can choose to cover your final expenses. These options include:

Funeral insurance
Government assistance programs like Medicaid
Pre-paid funeral plans
State assistance programs

The most beneficial option that you can choose is final expense burial insurance. You will receive a maximum coverage with death benefits. It offers death benefits that provide financial safety to your family.

Burial and funeral services

Buying final insurance is one of the best options you can choose. Final expense burial insurance will cover maximum end-to-life services like:

Palliative care
Hospice care
Residential care
Funeral services
Memorial services

Cost Of The Final Expense Burial Insurance

As mentioned above, final expense burial insurance is affordable. Burial insurance has premiums. You have to pay these premiums every month. Some life insurance have fixed premium rates while others do not. Final expense insurance usually has fixed premium rates. This means that the premium amount you pay initially will remain the same till the end. Fixed premiums are beneficial as it helps to predict the benefits of the insurance. With fixed premiums, you are aware of the benefits your family will receive. However, it is crucial to keep in mind that the premium rates depend on the policy type. Various policies have different terms and conditions. The benefits of the insurance also depend on the policy type. Thus, it is important to check the features of the policy type and provider. Typically, you need to pay $40 to $100 every month for final expense insurance. Once you pay the amount, your life insurance comes into effect. Mind you, the cost also depends on your age, gender and health status.

Health status

The premium rate is high for people with poor health status. When you are less healthy, the premium rates increase. Additionally, those who smoke also have to pay higher premiums. Smokers are prone to fall sick. Also, they are vulnerable to respiratory disease. Therefore, the premium rate is set higher for them.

Age

Age is another factor that is associated with the premium rate. Usually, many policies have higher premium rates for older people. The older you are, the higher the premium you have to pay.

The reason why older people have to pay higher amounts is because of their health status. Older people are less healthy. The chances of falling sick are greater in adults than in younger people. So, seniors have to pay a higher amount for life insurance.

Seniors over 70 pay more than younger insured. Usually, seniors do not get many life insurance options. They face challenges finding a life insurance that offers guaranteed insurance. But, final expense burial insurance offers insurance to seniors over 70 as well. They just have to pay a higher premium amount.

Gender

The premium amount also depends on the gender of the insured. If the insured is a female, she has to pay a small premium amount.

However, if the insured is male he has to pay a higher premium amount. The life expectancy of males is lower than females. Studies suggest that females tend to live longer. Males are also prone to fall sick as they grow older than females. Therefore, premium rates are higher for males than females.

Location

The state you are living in also matters. Your monthly premium of life insurance depends on the state you live in. Some states offer different policies than other states. Some states offer life insurance that is active in any location. The premium rates also vary from state to state.

Burial Insurance Plans

Final insurance or final expense burial insurance is also called burial insurance. Burial insurance covers all your burial expenses. It also offers death benefits to your loved ones. They receive the benefit of up to $5,000. One best things about burial insurance is that it does not need a medical exam. You have to answer some health-related questions to buy this insurance policy.

You must to pay the premium every month. Burial insurance is one of the affordable life insurance. The premium amount ranges from $30 to $40 every month. If you are paying every week, you have to pay $3. The premium amount depends on the death benefits. If you want maximum death benefits, you have to pay higher premiums. Your weekly or monthly premium decides your death benefits. For example, you receive a death benefit of $7000 when you pay $3 every week. If you pay more premiums, the death benefit will increase too. Different plans have different premium amounts. There are three types of burial insurance plans such as:

Simplifies burial insurance
Guaranteed burial insurance
Pre-need funeral insurance

Simplified burial insurance

Simplified burial insurance covers the cost of burial services. It does not need a medical exam. It is a whole life insurance. This insurance is for a lifetime but the death benefits are small. Furthermore, it has rider options.

Guaranteed burial insurance

As the name shows, guaranteed burial insurance offers guaranteed coverage. You do not have to take a medical exam. Also, it does not include any health-related questions. You receive guaranteed coverage regardless of your age and health status.

This burial insurance is best for seniors. Seniors do not have to worry about their age and health status anymore. Pay the premium amount and your insurance is activated. However, there may be a waiting period.

Pre-need funeral insurance

Pre-need funeral insurance covers the funeral services of the pre-arranged funeral. It is like an agreement. You decide what services you want for your final day. The elements that are included in the funeral day are decided. This makes everything easy for your loved ones. You plan everything. You buy the policy and plan whatever you need. It reduces financial burden and protects your family from financial crisis.

Conclusion

To sum up, final expense burial insurance is an affordable and suitable life insurance for seniors. The low cost of final expenses makes it a desired life insurance. To buy this insurance you have to follow the simple application process. Besides, paying the premium amount every month is crucial. However, it is vital to search for a suitable policy plan. Read its terms and conditions and choose according to your needs.