Cost of Burial Insurance

Cost of Burial Insurance

One of the most obvious questions burial insurance companies get is “How much does burial insurance cost”? Well! The rates may vary from person to person as the premium is determined by personal factors. 

With each year’s rising cost of final expenses, funerals are becoming expensive. That’s why most Americans opt for burial or funeral insurance, as it’s an affordable option.


How Much Does Burial Insurance Cost?

Burial insurance, a type of life insurance plan, is all set to cover the funeral and burial expenses of the policyholder after his demise. The rates will be higher for older persons or those having some serious health issues. That doesn’t mean you can’t qualify, still you will but your premiums will be high. 

So it is suggested to get coverage as soon as you can so that you lock in a lower rate earlier. However, a 50-year-old man who is healthy and doesn’t smoke can expect a monthly premium of about $35 to $45 for a standard burial plan of $10,000 coverage. 


What Types of Services are Included in Burial Insurance Costs?

Some end-of-life expenses covered by burial insurance costs are:

  • Cost of embalming 
  • Casket 
  • Viewing 
  • Hearse 
  • Digging and filling of the grave
  • Vault 
  • Funeral director services 
  • Cost of the plot 
  • Headstone 

Aside from these services, burial insurance’s death benefit can also be used to pay any outstanding debts, medical bills of the deceased, or any other financial obligation that is unpaid. 


Which of the Two Types of Burial Insurance is Cost-Effective?

Generally, burial insurance comes in 2 types. Simplified Issue and Guaranteed Issue. Both of them have their own limitations and cost factors. Let’s have a look!


1- Simplified Issue 

This type of burial insurance is less expensive than the guaranteed issue. However, the applicant has to ask some health questions via a questionnaire. If some serious illness gets diagnosed, the premium will be high, or maybe the policy will get rejected simply. 


2- Guaranteed Issue 

Guaranteed issue offers you coverage no matter what your health condition is. As a result, risk increases for the insurers and they increase the premium rates. Note that this insurance gives you coverage even if you have Alzheimer’s, end-stage renal failure, terminal or chronic illness, and even AIDS and HIV. 


Why Get a Burial Insurance Plan?

In case you don’t like getting insured via burial or final-expense insurance, here are some good reasons for you:

  • End-life expenses are covered
  • The continuous rising cost of funerals
  • Affordable insurance option
  • Fewer restrictions.


How to Get Low-Cost Burial Insurance Services?

Are you looking for a way to get a fair deal for your burial insurance? We are here with a solution. Here are some steps you can follow to get a handsome deal. 

  • First, you have to shop around and consider more than just one insurance provider. 
  • Then you have to think and compare the coverage you need and the premium you can pay. 

You can seek guidance from an insurance agent if you are confused or unsure about coverage or premium payment. We at Burial Senior Insurance, are offering you to get in touch with a professional agent who can help you with your insurance complexities. 

Call us now at +1 (800)-718-4568 and we will be pleased to help you out. 

Find Peace of Mind - Calculate Expected Funeral Costs with Our free Funeral Cost Calculator