Purple Cross Burial Insurance: A Complete Guide and Tips

Burial insurance, also called final expense insurance, is a type of life insurance plan which is meant for the repayment of burial and funeral costs. Another steady solution is a particular type of insurance known as purple cross burial insurance which is aimed at aiding people and their families to have mental peace when they are experiencing difficult times.

This policy has low premium rates, options to pay on a flexible basis and riders that policyholders can add to tailor-make their plans. However, the plan launched into the market helps people to have a safe and affordable alternative payment as their companies end.

In this blog post, we will discuss the details of Purple Cross Funeral insurance including its features, benefits, and some considerations while getting the plan. Read out the post thoroughly to get your queries clear!

What is Purple Cross Burial Insurance?

Purple Cross Life Insurance is a burial insurance plan that is a type of whole life insurance plan which is specifically created to compensate the end of life cost expenses. The chance is that this insurance policy will help the family of the deceased to avoid financial problems. Nevertheless, the purple cross is not one of the popular names, therefore, you must be aware of the parts of planning debatably, if you plan to get it as a preparation for your funeral arrangements.

Features of Purple Cross Funeral Insurance

Here are some of the features of Purple Cross Insurance that are worth mentioning.

1- Fixed Premiums

One of the significant features of purple cross insurance is that it offers fixed premiums. The premium amount remains the same as you pay for the first purchase throughout the lifespan of the policy. This predictability can act as a reassurance for the insured and their family members.

2- Small Coverage Amounts

The main funeral insurance coverage offered by purple plans ranges from $5000 to $25000. This albeit modest coverage for mourning and burial needs will help to settle the debts of families as it goes directly towards meeting expenses such as caskets, burial plots, memorial services and more.

3- Guaranteed Issue

This coverage is generated as and if you apply because the plan is marketed as a guaranteed issue plan which gives you peace of mind that your application will be approved. In contrast to standard life insurance plans such as Blue Mate or Violet Beam, Purple Cross has a deferral phase during which a person is not asked to take a medical exam or to undergo a health underwriting procedure. Hence, availability is increased, ensuring the care for such people.

4- Cash Value

Similarly, this policy is alike other whole-life ones that have the cash value pulling and compounds over time. The cash value can be loaned to the Insured or even cash out the policy plan (but it will reduce the death benefit).

5- Instant Coverage

Mostly, Purple Cross offers immediate coverage from the moment the policy is issued from the insurer. It means in case of the death of a policyholder, the designated beneficiaries will get the full death benefit even if the insured dies shortly after getting the plan.

How Purple Cross Burial Insurance Works?

When you buy from Purple Cross’s funeral insurance policy, you choose a coverage level that ends your end-of-life-associated cuts. Some of these costs are associated with the funeral, burial or cremation, medical expenses, and any other costs associated with the end of life. And then you make a monthly extract along with your payments in annual invoices. In case of your sudden demise, it is the case that your designated beneficiaries will receive the amount of the policy, which they might use to cover the costs that come with the final affairs.

Pros of Purple Cross Insurance

The principal benefit of this insurance is the comfort and assurance it provides to the very ones of the policyholder who are left to bury the policyholder. Aside from this, the following are some of the other benefits of purchasing purple cross:

1- Financial Security

The financial security that Purple Cross Burial Insurance offers you and your family is one of the primary benefits of this plan. Funeral services may allow the survivors to heal from the painful grief, which is otherwise worried about the funeral costs. Thus having such a plan in place, your family will never be due to shell out dollars in emergency cases.

2- No Medical Exam

As stated before, the direct issue nature of Purple Cross insurance makes it the ideal insurance for people who are unable to get the traditional life insurance plan owing to any health issue. The process of the application is very user-friendly because no medical tests are needed to be passed.

3- Fixed Premiums

The policy comes with fixed premium payments that remain the same throughout the plan. Knowing that your premium won’t increase gives you mental satisfaction and also helps you budget your finances.

4- Cash Value Accumulation

The cash value component of the policy grows over time. It becomes a potential source of funds for any unexpected expenses or emergencies. Insureds are allowed to take loans from cash value even when they are still alive.

What to consider before getting Purple Cross Funeral Insurance?

The following are the considerations before getting Purple Cross funeral insurance:

1- Cost

No doubt burial insurance plans offer great accessibility and convenience, but they also tend to be more expensive as compared to other life insurance plans. Before buying a plan, always compare quotes and understand the long-term costs before making a decision.

2- Coverage Limitations

In case you want to leave a substantial financial legacy for whom you care or maybe want to cover other significant expenses like debts and college fees of your kid, burial insurance coverage will not be sufficient.

3- Waiting Periods

Some burial insurance plans like guaranteed issues come with a waiting period that usually lasts for 24 to 36 months. During this time frame, the death benefit is not payable. If the insured passes away during the waiting period, only a port of death benefit will be given to his beneficiaries or maybe a refund of paid premiums.

4- Alternative Options

It’s important to explore some alternative options before getting one. To cover your end-life expenses you can pre-plan your funeral or can also set aside funds in a dedicated savings account.

Why Choose Purple Cross Burial Insurance?

Choosing Purple Cross Burial Insurance offers several compelling reasons:

1- Affordable Premiums

One knows very well that money issues should not be on top of the stress of losing a loved one. They offer the best of such coverage with competitive premiums. With the provision they have, you will be forced to take cover without having an awful experience.

2. Easy Application Process

The Purple Cross, on the other hand, come with a straightforward approach to applications for insurance. Contrary to the conventional policies which could demand thorough paperwork and medical exams, Purple Cross is primarily known as such insurance provider which does not require a buyer to undergo the examination prior to buying.

3. Quick Payouts

Purple Cross need to make sure that the payouts are made promptly to the beneficiaries when a claim is arrived at. This ensures that your family/close ones can get money to pay final bills. And they will get money without wasting time.

4. Flexible Coverage Options

Purple Cross originates from the realization that everyone is different. This is why they offer different coverage packages which are inexpensive and can match anyone’s budget. They can provide you with the simplest insurance that covers the burial expense, or a much more comprehensive plan.

5. Portable Coverage

However, life is unforeseeable and you can experience changing the place of your residence. Wherever you relocate, keep peace of mind with Purple Cross Burial Insurance, your policy will follow you and you remain guaranteed a continuous cover that is always with you.

Besides the rest, Purple Cross Burial Insurance accords you security and tranquility when you are highly distressed. By selecting Purple Cross, you can be certain that your family members are provided for, and thus you give them the freedom to devote their efforts to mourning you without arranging for funds to go towards these very requirements.

The Bottom Line

The Purple Cross Funeral Insurance is sure to provide financial help to your family when it is required the most. That is a helpful tool in the allocation of your finances, but at the same time, you should be aware of its cost and coverage limitations.

Frequently Asked Questions (FAQs)

1- Is Purple Cross insurance the same as standard life insurance?

No, it’s a specific type of life insurance plan for covering the cost of final expenses. It focuses on finding funeral and burial costs, whereas standard life insurance plans have broader coverage and also serve other financial needs.

2- Can you get purple cross insurance for someone else like a parent or grandparent?

Typically, yes! You can purchase burial insurance for someone else, but they have to be aware of and agree to the plan. The policyholder also has to answer some health-related questions or provide consent according to the requirements of the insurance company.

3- Is there any age limit to buy a Purple Cross insurance plan?

Age requirements usually vary among different insurance providers. Funeral or Burial insurance is mostly available to people between the ages of 50 and 85. However, some insurance companies may also offer coverage to younger people as well.

Iqra Shaheen

Here is our expert author, Iqra, your go-to source for simplified insights into the world of life insurance. With years of industry experience, Iqra delivers concise and approachable content, ensuring you navigate the complexities with confidence.