Learn What You Need to Know About Burial Insurance

Several programs are being sold to people who want to make sure they’ve tied up their financial loose ends before leaving this world, whether it has a soft name like “last expense insurance” or “senior life insurance” or is plainly labeled “funeral insurance” or “burial insurance.”


Beyond the marketing, burial insurance is simply a type of whole life insurance. It is sold by various insurance firms, ranging from smaller ones you may not have heard of to major names like State Farm and AIG.

Burial insurance frequently offered seniors addresses both practical and emotional requirements.

Simple to obtain

You can purchase the coverage online or over the phone without undergoing a medical exam, which no one enjoys. Instead, applicants are asked about their age, tobacco use, and serious health problems.

Some insurance doesn’t even ask about medical history, and approval is guaranteed. They are, unsurprisingly, known as guaranteed acceptance or guaranteed issue life insurance. These policies are intended for those so unwell that they are ineligible for other types of life insurance.


For the first two or three years that the policy is in force, guaranteed issue policies do not pay a death benefit (the amount paid out to beneficiaries). If they did, everyone would want to wait until they were on their deathbed, pay one month’s premiums, and have their heirs receive $25,000. No insurance company could survive if they accepted this. So instead, if the insured dies within the waiting period, the policy’s beneficiaries will be reimbursed for the premiums paid by their loved one, plus interest.


Burial insurance can be acquired for as little as $5,000 or $10,000, but another whole, guaranteed universal, or term life insurance plan may have far higher minimum coverage limits of $50,000 or $100,000. Burial insurance prices may appear to be a good value, but it’s difficult to determine without receiving individualized, comparative quotations for larger plans.

A love vehicle

The advertisements can be heartfelt, promoting burial insurance as one of the most important things you can do for your family so that they don’t have to struggle to pay for your funeral and settle your bills. This is an admirable goal, but burial insurance is neither the only nor the best means to achieve it. However, it can be a decent sort of insurance for people who only need a small policy and cannot qualify for a bigger or less expensive policy due to their age or health.