Buying burial insurance for your parents may seem strange. But it is not. Parents are the blessing from God who love their children unconditionally and sacrifice there everything to keep their children happy. One must always remember the sacrifices they have made for you. The unrest and sleepless nights, flawless looks – trying to fulfill every wish and desire of their beloved children. You can easily buy burial insurance for your parents. If your parents are a little older there burial insurance for seniors.
Turn the tables!
The days get older, we all grew up – now the time has come to satisfy your parents, to make them happy, and fulfill all their wishes and desires. Remember the love they have given you and return it with all warm-hearted actions, smiles, and patience. Buy a burial insurance plan for your parents to make their rest of the life peaceful and amazing.
Burial insurance is also termed as funeral insurance, final expense life insurance, or cremation insurance. It is the specific type of life insurance that covers all the funeral costs, burial service costs, and other expenses.
It covers all the financial burden and pays the beneficiary the death benefit after the insurer passes away.
Burial insurance helps a person have peace of mind. The burial insurance plan takes responsibility for all final expenses and ensures that their last wishes come true.
Types of Burial Insurance:
The different types of burial insurance depend on the insurer’s responsibility towards his or her health and how much he rates the specific health policy. The standards under which the customer fall are:
1. Preferred or Level Benefit Plan:
A level or preferred benefit plan is the best one can receive. This perk is easily acquired when you say ‘NO’ to every health question asked. This gives 100% coverage to the beneficiary after his loved one passes away. Besides, the benefit plan is acquired at the lowest cost offered by the company. One also does not have to wait too long to avail of the benefit, which is why it is also termed as ‘Preferred.’
2. Graded Benefit Plan:
The graded plan is a medium option and is only offered when your profile seems riskier for the company. This benefit plan is granted when the person says ‘YES’ to any of the health questions asked. As per the policy, Graded program gives partial coverage to the beneficiary during the first two years, for instance, if a person dies in the first year of the procedure, the graded plan will pay 105-110%, whereas, if he dies in the second year of the policy, the plan will pay 50%. The percentages may vary from company to company.
The accurate rates offered by any company typically ranges from 25% – 40% in the first year, while 50% – 75% is being provided in the second year of the policy.
3. Modified Benefit Plan:
A modified plan is the riskiest plan offered by the company. This plan is only granted to those people who are suffering from serious health issues that are in the modified health section, for instance, health issues like cancer or heart attack lie under this category.
As per the modified plan policy, if the person dies during the first two years of the policy, the company will only return the premium amount along with markup. However, if a person dies in an accident rather than a health issue, the company will pay the full death benefit.
Importance of Buying Burial Insurance:
In the increasing inflation and other crisis in the world’s economy, the importance of buying burial insurance for your parents can not be neglected. It plays an important role in today’s world. Some of the important points are listed below:
• Burial insurance can be purchased at affordable and economical prices rather than prepaid burial plans. To get life insurance coverage, one only has to pay a small amount once a month.
• Burial insurance covers all the necessary expenses related to funeral, cremation, or burial. Or other expenses like a coffin, flowers, and memorial services, etc.
• Burial insurance policy allows the insurer to select the beneficiary of his choice. As he will later ensure that all the funeral wishes are carried out, and money is distributed as per the will.
• The flexibility of the burial insurance policy also allows paying the other debts of the insurer from the remaining amount of final expenses. • The plan also allows an insurer to take credit in case of an emergency rather than only caring for the financial future of the loved ones.
• People can easily qualify for burial insurance as it only requires a few health questions to be answered.
• The burial insurance releases the loved ones from financial burden and makes sure that the family members grieve on the death of the person without worrying about the funeral and burial expenses.
• Burial insurance arranges immediate money so the loved ones need not pay for the final costs. • Burial insurance plan has a fixed premium, which never increases with the increase in years.
• Cremation insurance also gives an open-ended choice to allocate your funds without being restricted to any specific funeral home.
• Burial plan needs no medical tests to complete avail coverage.
• Making final death decisions is not a piece of cake. But the burial insurance helps you make decisions ahead. • Your burial insurance is planned in advance. What you really need is considered.
• This gives you protection at an affordable price.
Unique Features of Final Expense:
The final expenses and the burial insurance policy is unique in its own way, which emphasizes an individual to acquire it for their parents. Some of the unique features include:
1. Easy Underwriting:
A fantastic and unique feature of burial insurance is its relaxed underwriting. The insurance policymakers design these policies to absorb high-risk conditions. The underwriting assists adults and old age people to quickly qualify the burial insurance policies. Besides, the high-risk situations accepted by the burial insurance would get auto declined from traditional life insurance.
Individuals having severe and critical health conditions like diabetes, high blood pressure, depression, anxiety, hepatitis A, B or C, cancer, blood clots, or any other chronic diseases may easily avail the insurance facility.
Likewise, individuals having no high-risk diseases and led a healthy life can also be insurable.
2. Guaranteed Issue Life Policy:
Although the funeral insurance expense has smooth underwriting for risky health conditions, there are some more perilous health issues that are considered as ‘uninsurable,’
The expert insurance carriers have an incredible solution for these severe issues. The ‘guaranteed issue life plan’ has given coverage to the ultra-high risk conditions. The guaranteed plan has no health-related questions, nor do they have medical underwriting.
The ‘guaranteed life plan’ is relatively expensive than other life insurance policies as it caters the high-risk diseases, for instance, HIV or AIDS, dialysis, Terminal Illness, Hospice care, etc.
3. Low face value
It is unbelievable that one does not have to pay a bunch of money for all the unnecessary stuff; rather, companies keep a low face value option, which allows you to buy even small coverage of $2,000. Some companies keep their face value option from $2,000 – $25,000. This policy gives the privilege to avail of the small and necessary protection.
You might be thinking, can I avail of the high face value coverage?
Yes, you can!
Some companies offer high face value burial coverage ranges from $40,000 to $100,000. You can buy your own desired coverage for better survival.
Who Needs a Funeral Insurance Plan?
People who acquire their funeral insurance do not want to be the burden on their families with their final expenses. Yet there are other needs as well, which drag them to get the burial insurance service.
➢ One does not have the immediate cash to fulfill the funeral requirements and obligations.
➢ You have coverage but want more
➢ Want to leave behind some donations or generous amount for an organization or person.
➢ One with outstanding debts and loans
➢ Those who are paying off their medical bills or debts
➢ Those who have cash but want their final wishes to be fulfilled with sincerity.
These policies are designed to cater to each one’s needs. But in the end, everyone is different. An individual can, fortunately, customize these policies as per their requirements.
Who Can Get A Policy?
As it is known a burial insurance policy is available people for with health issues yet there are few factors that determine the eligibility criteria of acquiring a burial insurance plan, for instance, residency state, age, and health conditions.
➢ State of Residency: Availing burial insurance for parents is not always available in every state because some insurers do not have their products approved by the state.
➢ Age: The average age at which most people buy funeral insurance if 50 – 80 years old because some of the policies can be enjoyed by younger people.
Burial insurance also offers policies for people below the age of 50; however, it depends on the state the person lives.
➢ Health Condition: The burial insurance plans can easily be acquired by healthy people plus those with riskier and critical health conditions. The buying policy depends on the state of residency.
Consequences of Not Having Burial Insurance:
Have you ever thought, what happens if you die with no burial insurance coverage? Have you considered not having immediate money to cover cremation expenses? What about the medical bills, debts, or loans?
Burial insurance is for yourself, your benefit, your comfort, your everting! Having no burial insurance can become a severe issue for you and your beloved ones. This can leave your family on the hook with massive debts, loans, and medical bills.
If you die without cremation insurance, you may be buried in a common graveyard beside the unclaimed ashes. Or your dead body might be handed over to county coroner’s office, which means that the state and the government will be responsible for your burial. This
is the most depressing way to finish your time.
On the other hand, if your country lacks the necessary funds to fulfill your burial expenses is more depressing. And other costs like wages expenses, taxes, and additional fees can create more ways for hardships.
Another option left with your family is to contact a non-profit organization for your burial or start a crowdfunding campaign to gather money for your funeral.
These heartbreaking thoughts can be anxious. One may not likely to end his time on earth like this. Thinking of all these consequences, the burial insurance plan has created easiness for your better life and survival.
‘Don’t be the financial burden on your family.’
Acquiring final expense insurance is the best thing one can do in his lifetime. The importance of buying the final insurance cannot be neglected as it takes the coverage of the insurer and allows the loved ones to mourn over the death of their parents without immediate financial burden.
‘Blessed are those who mourn for they shall be comforted.’
Burial insurance offers an outstanding and tremendous whole life insurance and benefits. The policies are designed to make the rest of the life tension free and fulfill every after death promises. This helps to cover your whole life expenses at the best and affordable prices, out of the box services, and convenience.
Stay within your means, and make sure your burial insurance is pre-planned.
Make it a priority to get a burial insurance plan for your parents to lead a happy and comfortable life.
Hi, this is Mitch Winstead from Advanced Mutual Group. I have been a licensed broker for over 20 years. If you have any questions or would like a quote with no obligations, please call our office toll-free at 1-866-598-8170 Our email address is email@example.com We are a state-regulated agency. We have top carriers available at the best prices. Our website is http://www.advancedmutualgroup.com