It’s not something you would want to think about every day, but as you grow older, the possibility of leaving the world behind only increases. For residents in the , area, funerals are just as costly as they are across the country.
According to the National Funeral Directors Association, the average funeral can cost your family upward of $7,000 and might even total up to a whopping $10,000. Basic cremation can be a bit cheaper, but it will still set your family back anywhere from $800 to $4,000. That does not include other additional charges.
While planning for your passing might sound morbid, doing so makes it easier for you and your loved ones once the time comes. If passing the financial burden of your burial to your family members is not an option you want to take, then consider getting burial insurance as soon as possible.
The Difference Between Life Insurance And Burial Insurance
The types of insurance available are not the same. Life insurance is one that might require you to get a medical exam just to qualify. Once you are approved, you’ll usually pay a monthly premium to the insurance company of your choice.
In your passing, your insurance policy will aid in taking care of your family’s living expenses, which may or may not include car payments, college tuition, credit card debt, mortgage, and other essentials.
Burial insurance, on the other hand, focuses on your final expenses. Typically, it wouldn’t ask you for a medical examination, and the policy is issued within a few days. Should you pass away, the insurance will automatically provide a payout, handling all of the expenses involved in your funeral.
The difference between burial and life insurance is that once you pass away, burial insurance is one of the safest policies to invest in as payout is guaranteed. Meanwhile, life can be contested on the grounds of your death.
With burial insurance, you have a much better assurance that your money will be used as intended.
The Prime Age To Get Burial Insurance
Burial insurance is designed for people between the ages of 40 and 85. However, some burial insurance companies offer affordable plans to those over 85.
As mentioned above, you don’t need to undergo a medical exam to qualify, although you may be required to fill out a questionnaire about your health. Don’t worry because you won’t be denied even if you have diabetes, heart disease, and other debilitating illnesses.
Similarly, caregivers or children can buy a burial insurance policy for their parents and name a funeral home as the beneficiary.
Benefits Of Getting Burial Insurance
Burial insurance isn’t really for you; it’s for your loved ones. It’s a safety net that will protect them from drowning in financial debt after your passing. Losing you in their lives is already traumatic; having to deal with finances at the same time will only deepen their pain. Burial insurance removes that weight off their shoulders.
When planning for your passing in , it’s better to be prepared for the sake of the family you’ll leave behind.
If you have questions about getting burial insurance in , we can help you with everything related to it. Visit https://burialinsurancenetwork.com to contact one of our agents today.