When shopping for life insurance coverage, there are several factors to be mindful of when it comes to how the premium rate is determined. The same will typically hold true, regardless of the type of life insurance that a person is purchasing - including burial insurance.
While many people may have traditional life insurance coverage, it may often need to be supplemented with a burial insurance policy in order to cover the additional final expenses that a person will have at the end of life. This way, you can help to ensure that loved ones will not have to pay these large expenses.
Burial insurance is a type of life insurance that is purchased for the primary purpose of paying off one's final expenses. This type of coverage is oftentimes also referred to as either final expense insurance, or simply as funeral insurance.
Today, the cost of a funeral can be in excess of $10,000 - especially when also factoring in the price of a person's headstone, casket, burial plot, transportation, memorial service, and other related expenses.
By having burial insurance, an individual can help to ensure that his or her family members or loved ones will not have to pay such high bills at an already difficult time in their lives. As with other types of life insurance, the death benefit on a burial insurance policy can typically be received by the beneficiary free of income taxation. In many cases, the death benefit on this type of life insurance plan may also be signed over directly to a funeral home.
There are several criteria that are taken into consideration when a life insurance company is determining the amount to charge an applicant for his or her burial insurance premium. These include the following:
When shopping for the best premiums on burial insurance coverage, your course of action should ideally be to go with either a company or an agency that has access to more than just one life insurance carrier. This way, you will be able to more directly compare policies, benefits, and premium prices in an unbiased manner - and from there, you can then determine which will work the best for you and your coverage needs.
If you are ready to move forward with the purchase of a burial insurance policy, we can help. We work with many of the top burial insurance carriers in the marketplace today, and we can assist you in obtaining all of the important information that you will need in making an informed purchase decision. When you are ready to proceed, just fill out the form on this page to get your first set of quotes.
Should you find that you have any additional questions regarding what factors affect burial insurance premiums - or even if, you just have a question about life insurance in general - please feel free to contact us. We can be reached directly by phone, toll-free, by dialing 541-400-9040.
We understand that the purchase of burial insurance can be a big decision. You want to ensure that you are obtaining the right amount of coverage from the best carrier for your needs. We can help you to obtain the protection that will provide both you and your loved ones with the protection and the peace of mind that you deserve. So, contact us today - we're here to help.