One of the greatest gifts we can live our loved ones with is a clean slate full of only positive memories of ourselves. As we pass through our mid-age, we start to think about the legacy we are going to leave behind. Obviously nothing can ever really tarnish the good times: they will live on forever. But wouldn’t it be nice to be prepared beforehand for that last final expense?

Burial Insurance For More Than Funeral Expenses

Burial insurance can cover more than just the costs associated with your own funeral. It can also pay off debts such as a mortgage and virtually any other leftover expenses. It’s unfortunate that funeral expenses have gotten so out of control, but just because it’s lamentable that doesn’t mean that it isn’t true and that it won’t continue to be true. These are the types of things we unfortunately have to consider as we age (and the sooner the better).

There are so many varied expenses associated with the passing of someone these days. In terms of the actual burial, you have to think about the cemetery plot, the minister, the actual funeral service, and of course the wake or visitation. And this is not even a complete list of everything that will end up costing money. Burial insurance is the perfect way to pay for that all right now, a little at a time, so that no matter when the Good Lord calls you home you can go with a free heart, and leave your loved ones free to honor your memory.

Burial Insurance Is A Versatile Tool

Furthermore, as I mentioned earlier, burial insurance can take on other expenses too. It can pay off outstanding auto loans, a mortgage, lawyers’ fees, hospital bills and on and on. This is a very versatile tool that you can grasp and use to live the rest of your life (hopefully a long time) with a very dignified conscience and confidence. It can be such a gift that you can give to those you love and who love you. For those who pick up this great tool, I applaud you.

If you are over 50 and you don’t already have insurance that is going to cover your final expenses, then it is really worth your time and effort to look into burial insurance. Give yourself and your loved ones the peace of mind that comes from knowing that you aren’t going to weigh them down in a mountain of funeral-related debt when you go. Of course, we all hope that won’t be for a long time, but why play chicken with such an important event?

Burial Insurance Simplified Or Burial Insurance Guaranteed

Burial insurance comes in two forms: simplified and guaranteed. First let’s take a look at the guaranteed type. This is for people who are not of a sound and healthy condition. Because they wouldn’t be able to get a simplified policy, there is this other type available to them. I don’t want you to think that just because your health isn’t great, it doesn’t even make sense to look into this final expense insurance.

It absolutely does make sense to get a guaranteed policy, because it will still pay your final costs as long as you live on another two or three years. How it works is you pay a small, regular payment and if you are still alive within a couple of years, then the benefits are yours. All your costs will be taken care of and that’s that. In the unfortunate event that you were to pass, then all of your payments would be refunded. There would even usually be a further interest payment made back in this case. Because of this, you can’t go wrong with a guaranteed burial policy.

Simplified Issue Burial Insurance While You Are Healthy

Now, what if you are in good health? Then you can get a simplified burial insurance. No matter what happens, nor when it happens, your end of life costs will be covered under this plan. Obviously, you pose less of a risk so the insurer can offer its coverage to you for less than would otherwise be the case. This is terrific, and it also makes you think, “Well I better get that now, while I’m still healthy.” I couldn’t agree more.

No matter which type of burial insurance you qualify for, it simply makes sense to buy this peace of mind and fiscal responsibility for you and your family. It’s a great way to take on one of the more unpleasant aspects of later life and just knock it right out of your way. It takes a strong and noble person to address this for the sake of his family.

It is not too late to get burial insurance for you or your parent. It’s available to anyone who is between the ages of 50 and 80. And it probably doesn’t cost as much as you think.

Burial Insurance Is For More Than Just Burial

Furthermore, this type of a policy can be used to cover more than just the specific death-related costs. It can take care of things like a mortgage or other debts that are left behind. But most of all it can sweep all your worries about how to pay for a casket, a headstone, a funeral service, and all the other myriad costs away.

Buying burial insurance will immediately give you peace of mind over all of these things. It will also probably have an effect on your relationships (a positive one) as you continue to age with strength of character. Having taken care of that last big bugaboo of financial calamity, it is common at this point that everyone starts to get along better. Whether you think so or not, if you are avoiding making this decision it’s probably worrying the heck out of your loved ones.

Regular Payments Reduce Worry

When you make such a strong decision to make a little regular payment in order to alleviate end of life costs, you are really taking the bull by the horns, and the people that are closest to you will look at you with a new admiration. They will be amazed that you an summon up such a courageous act at your age. And they will think of you as a perfect model of how to not run from death, but to tackle it.

No matter what state of health you are in, you can get burial insurance. Even if you are sick, you can still buy a policy that will cover you funeral and other expenses provided you live beyond a certain time horizon; usually two or three more years. If you don’t make it, everything is refunded. So, what I like to say is: it’s a win-win situation for anyone who is past middle age. You can nip this problem in the bud before it ever has a chance to rear its ugly head.

On the one hand, you can go with a guaranteed issue burial insurance policy. This is, as it says in its name, guaranteed to be approved for you. There is no medical exam required in order to receive this policy.

No Medical Exam Burial Insurance

How can they accept everyone into this type of burial insurance, you ask? Our actuaries have determined that by raising rates a little bit, we can afford to insure your burial costs even if you don’t proceed through a medical exam. This is only natural, since there is a bit more risk that we take on in insuring you without knowing that much about you. Nevertheless, this has been a very viable option for many people throughout the years.

With a guaranteed issue, you may have to wait a couple years until you’re vested into the death benefits. This is another effect of the increased risk you present in someone insuring your death expenses. It still pays to take this burden off of your family (and yourself).

Simplified Issue Burial Insurance Costs Less

The other type of burial insurance that you can choose will cost less. This kind is called a simplified policy. This is the ideal type that you would want to get. In order to get it, you’ll just have to go through a medical screening or questioning.

Once we have this information, we will feel very confident in making an offer of insurance to you. And you, in turn, can feel confident that you have done the right thing and removed any burden of your final expenses off of your loved ones.

Whichever way you determine makes the most sense for your family, you can act confidently in that direction. Once you have your policy, you and your family can let go of any associated worries. It is nice to be able to enjoy the later years of working and then retirement knowing that you have truly provided for your family, and will continue to do so in every way possible even beyond your own passing. The later years of your life will be all that much better because you have “taken the bull by the horns” and bought a burial insurance policy.

Burial insurance is an insurance policy that you pay into in order that at the time of death, the insurer will cover all expenses related to the funeral. Some policies, sometimes called final expense, may go even further and pay off non-funeral related expenses such as credit card debt or a mortgage. All of this is specified in the contract. But it’s good to know there are choices that can be tailored to your individual needs.

BURIAL INSURANCE REDUCES WORRY

Buying a policy such as this has a twofold purpose. On the one hand, it allows you to let go of all worries you may have about the financial impact of your death upon your loved ones. This is great, because it allows each of to “meet our Maker” with a clean slate and a clean conscience.

Another benefit, however, is that buying a burial insurance policy will also make your own family more at ease. Of course, nothing matters more than the love you have for each other. But they will deeply appreciate that you have thought this far ahead – and that you are thinking about them and their needs and desires, whether that be a spouse or your children.

A funeral can cost on average around $8,000 or even more. It depends of course on many factors such as how elaborate it will be, and what type of area you live in: rural funerals will tend to cost less than ones in urban areas. Just by simply thinking a little about the future right now you can take that cost away from your remaining family members. This is the ultimate final act of love and selflessness that one can give to their family.

BURIAL INSURANCE TYPES

Burial insurance has also been called final expense insurance or pre-need and prepaid burial. All of these terms may have slightly different connotations depending on who is using them and in what way they’re being used. Usually when people talk about pre-need they are referring to a policy where you commit to one funeral home and pay them. The downside to this is that you could become tied to that funeral home, and thus the place where you live possibly for a long time. It is always all about knowing what you require first, and then the answers will become obvious.

Average Burial Costs

The National Funeral Directors Association (NFDA) tells us that an average funeral in 2004, including casket, was $6,500. Traditional burial services were not included in this amount. Indeed one might suspect that many expenses associated with a burial were not included in this number:  burial plots, travel costs for family, limousine service, transport of a body, flowers, headstones, etc. This number also doesn’t comprehend  outstanding medical bills, or bequests. Additionally, those living in large urban areas could easily have spent twice this amount on a burial.

About Low Cost Burial Insurance — powered by eHow.com

Investing In Burial Insurance

As we age healthy individuals normally think more about issues that might arise at the end-of-life, including burial arrangements and provision for debts burdening those that are left behind. Having considered insurance for our burial we may wonder if we can afford the price of a policy. We may also have concerns about our health, if existing health issues would make us impossible to insure.

Different Burial Insurance Types

There are very different forms of life insurance policy that are confusingly called Burial Insurance. Burial Insurance is sometimes referred to as Final Expense Insurance, which may be proper depending upon the policy.  It is also, usually inaccurately, referred to as Funeral Insurance. Confused? Don’t worry we’ll show you how to easily sort them out: burial insurance policy types can be easily distinguished by

a) what the proceeds may be used for,
b) who sells the policy, and
c) where it is can be bought.

How These Policies Are Alike

All Burial Insurance policies are alike in this way – every burial insurance is actually a small “face value”<u>life insurance</u>  policy designed to be easy to afford and to be easy to issue. At bottom the transaction for each policy type is the same – when the policyholder dies the “face value”, or benefit amount, is paid to whomever is named on the policy – the “beneficiary”.

Funeral Insurance is a “Pre-Need Plan”

This type of policy is aptly named and an easily distinguished burial insurance type because it quite clearly is aimed at pre-planning one’s funeral. Here an individual buys a policy of a face value sufficient to cover only the cost of his funeral. The proceeds are usable only for funeral expenses, and the named beneficiary is always a funeral home. Not surprisingly these are sold overwhelmingly in funeral homes, by funeral directors, typically to those who have recently attended funerals there.

If your circumstances are such that you need only the cost of the funeral itself then this policy type is very convenient. You can meet a funeral director choose a casket, and quickly arrange other services that need to be provided by the funeral home. Costs will be detailed, added up and a policy written for the face amount needed to cover the proceedings. If you are buying this policy type ask extensive questions and read all forms thoroughly placing your signature. You want to lock in today’s internment costs, not be surprised by additional fees later on. Also you will want know about transferring the policy to another funeral home company or to another location of the same company.

Burial Insurance = Final Expense Insurance

Burial Insurance policies and Final Expense Insurance policies are exactly the same thing; we’re going use the term burial insurance to mean both for convenience sake. Burial Insurance policies are more flexible than funeral insurance “pre-need plans” in several ways. Most important is that the proceeds may be used for any purpose – burial expenses of course, but also for outstanding debts to be paid, bequests to individuals can be specified, or just leaving a cash balance for your beneficiary is possible. Your choice of beneficiary is not limited.

Burial Insurance policies are bought from licensed insurance agents, often independent agents who specialize in this type of policy. Purchase of these policies is often completed in your own home. Designed for easy issue burial insurance can also be purchased over the Internet.

Insurance With No Physical Required

Burial insurance is designed to be readily purchased by people between the ages of 50 and 80 who are in a reasonable state of health – not perfect health mind you, just reasonable. You should attempt to obtain one of these “simplified issue” policies first as their cost will be the lowest and the face value benefits will be payable immediately.

If you don’t qualify for “simplified issue” due to an existing medical condition, and a good insurance agent can advise you about this, then “guaranteed issue” policies are available. These “guaranteed issue” policies require no physical exam and can be put in place immediately. Their cost will be somewhat higher on a monthly basis, and the face value benefit will not be payable until a waiting period has been completed. Typically the waiting period is two or three years and if the insured party passes away before that time benefits will not be paid. The good news is that all payments made will be returned, usually with interest.

What To Look For When Choosing Affordable Burial Insurance

When looking for affordable burial insurance you should ideally seek out the following:

Coverage for your lifetime
Premiums that never increase
Policy cash value grows
Full benefit paid as soon as policy is issued
Benefits are paid tax-free