No Exam Burial Insurance Policy

People purchase life insurance for many different reasons. For some, it may be to replace ongoing income in case of the unexpected death of the breadwinner. Others may buy this coverage for debt payoff – especially for large obligations such as a mortgage.

But regardless of what other financial needs you may have, most families will incur at least some amount of final expenses when a loved one passes away. These costs typically include the price of a memorial service, as well as other related expenses, such as a burial plot, a head stone, transportation, flowers, and announcements.

Today, these costs can run in excess of $10,000. However, if a person also has end-of-life medical and / or hospice expenses that are not covered by their health insurance plan, the expenses can be quite a bit more. In these instances, it can help to have burial insurance.

What is the Best Burial Insurance and How Does It Work?
Burial insurance – also often referred to as funeral insurance or final expense insurance – is a type of life insurance protection. These policies are purchased with the intent of paying off an individual’s funeral and other related costs.

In many cases, a burial insurance policy will have a benefit amount of somewhere between $5,000 and $50,000. However, there are instances where a policy may have a higher amount of coverage.
Burial insurance is typically purchased by individuals who are between the age of 50 and 80 years old. Some insurance companies, however, will offer this type of coverage to applicants who are older. Typically, burial insurance policies will remain in force until you reach age 100 – and in some cases even longer.

If you have a burial insurance policy, your loved ones will have access to funds that may be required for paying off final expenses, as well as for other obligations, such as unpaid medical bills. This can help to prevent those you care about from having to dip into savings – or worse yet, from having to incur debt of their own – in order to pay these bills.

In most cases, the proceeds from one of the best burial insurance policies will be paid out quickly to your beneficiary. And, if you choose to do so, you may even name a funeral home as your beneficiary, so that the proceeds from the policy are paid directly to that entity.

Burial insurance can be either term or permanent. With a term policy, the plan can be very affordable – and you can choose from many different options with regard to how long your coverage lasts. Comparing from several different plans can help you to choose the best burial insurance policy for your budget and your needs.

How Are Benefits Paid On the Best Burial Insurance Policies?

Not all burial insurance policies work the same when it comes to paying out benefits. So, it is important that you have a good understanding of just how the payout is structured. That way, your policy’s beneficiary can know what to expect if and when they need to file a claim.

For example, some of the best burial insurance policies will pay out 100% of the stated amount of the death benefit, regardless of how long the policy has been owned when the insured passes away. In other cases, though, the policy may have graded benefits. Here, if the insured passes away within the first few years of owning the burial insurance policy, the beneficiary will only receive a certain percentage of the total stated death benefit.

There are still other types of burial insurance policies where the death benefit may consist of only the amount of paid-in premiums if the insured dies within the first few years of policy ownership. Then, after a certain amount of time has passed, if the insured passes away, the stated amount of benefit would be paid.

With this in mind, it is always a good idea to compare several plans so that you can ensure that you’re obtaining the right plan for you and your specific needs. Doing so can entail taking a look at several policies, as well as comparing the best burial insurance companies, prior to making your final decision.

Should You Consider Burial Insurance Coverage?

As you move through the changes in your life, it is important that you ensure your overall financial plan is in-tact. This will oftentimes include a plan for covering final expenses so that loved ones don’t have to invade savings and / or sell off other assets in order to come up with the needed funds.
If you don’t have life insurance in place – or even if you do have life insurance, but you do not have an adequate amount of coverage – then adding one of the best burial insurance policies can be an affordable way to supplement that protection.
In many instances, burial insurance policies are not difficult to qualify for, as they often do not require that you undergo a medical exam as a part of the underwriting process. This means no blood test to go through – and no lengthy health questionnaire. Therefore, coverage can often be obtained easily and quickly for the added protection that you need.

How to Find the Best Burial Insurance Coverage

If you’re seeking the best burial insurance companies in Colorado – or in any state – then it is always a good idea to compare several policies prior to moving forward. Working with an independent agency, such as Term Life Alert, that has access to multiple burial insurance carriers is typically the best way to come up with the burial insurance policy that is right for you.
We can help you to narrow down your burial insurance policy options, as well as to provide you with premium quotes. Our company works with many of the best burial insurance companies, so we can show you quotes from quality carriers, and offer peace of mind for your loved ones. No matter what your particular life insurance requirements are, the independent agents at SimplifiedTerm will be able to assist in matching you with the best life insurance company for your needs

Getting quotes for the best burial insurance doesn’t have to be a challenge –

If you need a term life insurance premium quote quickly, we can help. Simply fill in the information on the instant quote box. We work with the best burial insurance companies in the industry, and we can provide you with the details that you need immediately – so that you can make a coverage decision today, or use the information to compare with your overall financial plan. Start now by completing our FREE instant life insurance quotes form and you will have immediate access to the best life insurance rates available.