Burial Life Insurance QuotesAbout Burial Life Insurance (Quotes)
- Burial insurance quotes should be level and never change. This is standard in the industry. Burial insurance rates that are cheaper initially could be outrageously expensive as you approach your life expectancy.
- For amounts over $100,000 the insurance carrier will want full underwriting and more information before issuing the burial insurance policy. Amounts over $50,000 to $100,000 or more are not considered burial or final expense amounts, and fall into the life insurance (high risk, non standard) category. Expect to pay a lot for larger amounts with someone that has serious health issues or is on prescription drugs.
- With true burial insurance (No medical exam, blood or blood tests). There is no underwriting.
- Remember the refund of premium clause. This is not like ordinary life insurance where if you sign up today, you are covered tomorrow. In most cases, if you die within a certain time frame (1-5 years), you get your entire premium refunded, maybe with nominal interest. That's it. outlive the graduated benefit term, and you beat the odds and get your full death benefit.
- The insurance carriers are marketing their product to the relatives of older or sicker people who have little or minimal life insurance. You will not be buying $1,000,000 in burial coverage. Most people just want enough to get their relatives into the ground.
- There is usually little or no cash accumulation, so that is not a major selling point of burial insurance. This is not a money maker, except for the agent and carrier.
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