What is Burial Insurance?

by J-Touchette

"All places are alike, and every earth is fit for burial." Christopher Marlowe

Burial insurance, also known as funeral insurance, is a type of life insurance specifically designed to pay for any final expenses that come with dying.

These types of plans usually cover around $8,000 to $10,000 with premiums ranging from $5 to $1,000 per month depending on the plan. With average funeral costs over $6,000, putting money away for this eventuality will help to ease the burden on friends and family who are left behind.

Because of the unique subject matter this policy deals with, it is usually very specific and can be used to help plan how a funeral service is run. In developing a policy of this nature, decisions such as whether to be cremated or not and where to be buried will need to be made so that an appropriate plan can drawn up. But things as specific as the music to be played during a funeral service can be listed in the plan to ensure that money is left to cover the cost.

However, caution is definitely called for when shopping around, as some of the guaranteed plans with no medical exam necessary do have a catch. Many of those plans won’t pay out if something happens in the first two years of purchase.

When questioning whether or not a funeral insurance plan is necessary, simply ask, does anyone live forever?

Read more:

What is Burial Insurance

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