All The Facts About Burial Insurance

All The Facts About Burial Insurance

Once a person reaches 50, burial insurance becomes a part of their life. 

Targeted ads online, on television, and through the mail try to place burial insurance policies in front of one another, causing people to compare and contrast offers and companies whether they wish to or not. What this does is raise a lot of questions about burial insurance, what burial insurance is for, and why it’s necessary for someone 50 years of age and in good health.  

Whether those final days were less than a surprise due to long-term illness or old age, or if they were caused by a sudden accident or sudden illness, families are not left with the burden of paying for a funeral ranging from $7,000 to $10,000 in cost. These policies differ from traditional life insurance in a few ways, most notably that they only cover final expenses, rather than the additional expenses many life insurance plans allow.  

What Exactly Is Burial Insurance? 

Burial insurance is a type of life insurance, but it differs quite a bit from traditional life insurance plans. For instance, a life insurance policy may cover lost wages, and help a family to cover mortgage costs and children’s future tuition costs on top of final expenses and other payments. Because of this, traditional life insurance policies will typically cost a bit more, and this is to cover these additional payments.  

Burial insurance, however, only covers final expenses, and while this seems limited, it actually encompasses quite a bit. End-of-life medical costs, funeral services, flowers, transportation, burial, cremation, and more are all covered by burial insurance policies.  

Burial insurance is a type of whole life insurance, and coverage will never go down while premiums will never go up as long as premium payments are in good standing. While traditional life insurance plans will reimburse families weeks to months later for funeral costs and final expenses already paid for, burial insurance pays out quickly, which allows families to avoid debt altogether.  

Burial Insurance And Underwriting  

Burial insurance may include underwriting or health questions, or it may not. Not all policies do include health questions, but those without underwriting may include longer wait periods and higher premiums. For those in good health, opting for underwritten burial insurance may prove beneficial. For those that do have underwriting, they’re typically offered in 3 general options  

Level – A level benefit is your best rating and gives you access to the lowest possible premiums.  

Graded – Graded level benefits mean the company has viewed health as somewhat risky, which may result in premiums 15% to 40% higher than level benefits.  

Modified – Those with more serious health concerns may be given modified level benefits. This will result in a 2-year waiting period as well as premiums 15% to 50% higher.  


For those wanting to learn more about burial insurance and the benefits of these types of insurance plans, contact Living Legacy.

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