There are two common types of funeral expense life insurance policies: burial insurance and preneed funeral insurance. These policies are designed for people aged 50-85 who are looking for affordable coverage. Planning, using either one of these types of funeral expense life insurance policies, allows you to cover the costs associated with your funeral and final expenses. This being said, there are key differences between the two. We will cover the basics below to help make the task of deciding which is right for you a little less daunting. Hopefully, you find it helpful in understanding the coverage you need, at a price that fits your budget, so you can get back to enjoying life.
If you are here, chances are you are shopping life insurance quotes for yourself or a loved one. One of the first comments we get is, “there are so many options and the language is very confusing!”. We couldn’t agree more and while the insurance industry is the greatest tool for helping protect families and provide benefits in times of need, they have not don’t a very good job of making it simple.
Burial insurance is an excellent option for older seniors who are looking to a smaller benefit to help with end of life costs such as funerals, estate settlement and burial.
To secure a policy, you must first apply with the company in order to receive a policy and ultimately have this benefit paid to your beneficiaries.