Burial insurance is a type of insurance in which funeral charges of the insured are to be paid after his death. Some companies provide the feature of buying the policy on phone or online. Medical examination is not required for the purpose. There are many things about which the customer has to mention in the form like smoking, age, any severe conditions. Some policies are accepted instantly while others may take a sum of premium for a period of two years.
Breakdown of burial insurance
Burial insurance is a cash policy and can be purchased with small amount, which can be in the range of $5,000 and $10,000. The term or whole life insurance policies are purchased at higher rates. The premium that the customer has to pay for final expense insurance is low and affordable. This insurance provides permanent coverage and there is no increase in the amount of premium. The costs that are covered in this funeral insurance include funeral service, cemetery plot, casket, headstone, funeral procession and many other small and big costs related to the funeral. You are curious to know more about burial insurance, click here.
Some people have raised issues regarding the burial insurance and said that in this insurance, such people are targetedwho are less educated and also those whose income is low. There is no need of any medical examination and the application of this insurance is accepted quickly. The insurer company put premiums at high rates in order to earn more profits. The rate of premium is charged according to the benefits provided in a policy. People think that permanent life insurance policy is better than the burial one. They should also ensure that the policy consists of all the expenses related to the burial and final expense.
These are a few points that people should note while buying a burial insurance. Theyshould make sure that all the costs are covered and the beneficiary should not have any problem during the burial procedure.