There are a lot of things that can go wrong in this world. Some people get hurt by losing their job, some by not getting admission in their desired university or college, some by being diagnosed by harmful disease, some by being separated by getting divorced. But most of all people get hurt when their loved ones die and leave them. This type of emotional pain is certainly the hardest one that one could bear. When someone close to heart dies from a man’s perspective, he thinks that he has been deprived of everything in the world because he was emotionally attached to the departed one. It takes quite a while, if ever for people to recover from that kind of loss.
Most people recover as the world does not stop from the departure of one person. Gradually the pain that once felt so hard to bear may go away somewhat and never do we fully recover from the loss of a loved one. There are many types of burial insurance available such as Whole life that builds cash value, (GUL) Guaranteed Universal Life or Term life.
Hi, my name is Mitch Winstead from Advanced Mutual Group. Our agency has been helping people just like you for over 36 years. We have a health background as a co-owner of a Physical Therapy practice. That among years of experience and expertise sets our agency apart from other agents or brokers. Our advice is free and if you call us you have no obligations to buy. Call us today! Our toll-free number is 866-598-8170 or 910-452-1922. If you prefer email, please click this link email@example.com We also have a quoting tool on our website if you would like an instant quote. Our secure website is https://advancedmutualgroup.com We will not share or sell your information with anyone. We have a Facebook page that also has some helpful information from our other website Allstar Senior Benefits.
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Is burial insurance worth it? Death is one of the few certainties, but how you pay for your funeral isn’t. When someone dies it’s not only the emotional pain that they leave behind for the loved ones. Also left is the pain in terms of financial problems. Since there is a huge amount of burial expense that the loved ones have to bear which amounts in thousands of dollars. These funeral expenses could leave some families in a financial crisis.
Some families could easily bear the after death cost of their loved ones. Low-income families could generally end up borrowing a high-interest loan in order to cover the after death expense. Which in turn would lead them to face a financial crisis?
If you like to solve this problem, some of the insurance providers are providing burial insurance plans. Burial Insurance is a type of insurance that enables the family of departed to help them finance their loved one funeral expenses, this kind of insurance is an excellent solution for such an unfortunate event as no one knew how much the currency can fluctuate at the time of death. Funeral expenses may increase making it difficult to give the departed one a proper funeral.
Amount of Insurance:
Many Insurance providers offer different rates of burial insurance, but on an average, most of them provide a low amount of burial insurance, the policyholder can use it depending on the policies and term and conditions provided by the insurance provider. Mostly the insurance providers in the United States of America offer the burial insurance ranging from $5,000 to $25,000, although there are some insurance providers that offer the high range. Some Insurance providers may increase the range of insurance depending on the age of departed the people above the age of 85 years generally get the high range.
Importance of Burial Insurance:
The beneficiary can use burial insurance in any way as he likes, but firstly it must be used to cover the funeral expenses of the departed one and then it can be used for further expenses. For example, if the beneficiary has been granted the total burial insurance of $20,000 and out of these, the funeral expenses cost $14,000 then the remaining net figure of burial insurance can be used for further to pay medical and hospital bills that are overdue, legal expenses and outstanding bills or debt of departed person. Thus in this way, the burial insurance helps the grieved family to take care of their financial issues in this moment of grief and sorrow.
Difference between Burial and Funeral/ Preneed Insurance:
Some people confuse burial insurance with funeral/preneed insurance considering both the same type of insurance, but these two are completely different from each and are not the same in any perspective.
Burial insurance is the one that helps the family to cover the complete cost of funeral expenses. Funeral or preneed insurance is used to cover predetermined expenses such as churches and funeral merchandises. This type of policy can be expensive because no health questions are asked to qualify for the application, It is a guaranteed issue policy. Also, you may be paying today’s rates for tomorrows funeral. When inflation for funeral prices occurs, you might not get the funds you were expecting which can leave you owing more for a funeral.
At the time of death, burial insurance will be granted to the family specifically to the beneficiary listed by the departed in the agreement to cover the cost that will be incurred for the funeral of departed. While the funeral insurance agreed on predetermined terms and conditions will be paid to the funeral services providers and the churches and it has not been paid to the family instead will be payable to the service providers listed above.
These insurances are generally provided to make feel the people that they should not worry about the death of their loved ones in the sense of the financial matter, because the policy covers all the expenses of the funeral. This means having burial insurance will provide the family of the departed with the funds they need to cover the cost of final expenses of the departed without adding extra stress to the already stressful time.
Like any other policy, you must be able to qualify for the burial insurance policy as well. But the qualification criteria is somewhat relaxed as compared to other insurance policies. You don’t need to have a medical exam in order to qualify for the insurance policy, unlike other insurance policies. In the procedure to apply for the policy, policy applicants are given a questionnaire and are asked to fill with the required answers usually in a yes or no fashion.
In order to buy the best insurance that suits you. The best course of action from your side is to compare among the different insurance providers’ policy. By doing this you would be able to get the best among them and you should be able to choose them on the basis of cost and benefit analysis. At Advanced Mutual Group, we will be your personal shopper and get you the best price and the best company to suit your needs.
There are some of the best burial insurance policy providers that could suit your type of plan and your budget. Following is the list of some of the insurance policy providers and their current offerings.
Advanced Mutual Group which is affiliated with Allstar Senior Benefits is a Life Insurance Brokerage that has quite a selection of companies to choose from. Why? This option will give you the best price and fit for your needs. If you would like a no obligation quote, please call us today. Toll-free 866-598-8170 or 910-538-4547. Our mail is http://mitch@advanced mutualgroup.com
Few of the insurance providers have been listed above including some of the unique services they provide. Some are the same in some respects, for example, all of them are in the value of thousands that is none of them is cheap. But spending money in early life is better than to bear a huge amount of funeral expense after.
This was just a brief list of some of the insurance providers. There are a lot of other companies offering these services. Selection of the policy is entirely on the potential user of the policy. You should choose the policy that fits and reflect your needs and plan, but I would advise having a plan in future to save the expenses that would be spent entirely by you if you won’t have one of the policies in place.
The stats show that the average funeral ceremony costs around $7,000 to $10,000. This is the major reasons that most of the people in America are shifting from traditional funeral procedure to cremation process since it is much cheaper than a traditional funeral procedure. This is exactly the reason why insurance providers started to provide burial insurance so, that people who earn low income and are more attracted towards religious beliefs could give proper burial as per religious tradition.
Hence, both types of insurances Burial and Funeral Insurances have their own advantages and benefits in a different perspective and both are the source of financial relief for the family of the departed and prove to uplift the burden of financial issues after the death. So, it’s better for a person to get themselves both these insurances at the right time in order to save their family after the death as we all know that death is uncertain, getting the insurance at the right time means that you should consult the insurance provider.
You would want to do this as early as you settled in your life and have a healthy family and you belong to lower or middle-class family and getting the insurance at the right time also save you from inflation factor as no one knows where the currency will stand in the future and if you don’t have the pension before the currency gets stronger this will add the extra cost to you. But if for some reason or hectic routine you didn’t get the chance to meet the insurance consultant at the right time to get the insurance at some time before it’s too late as it is said better late than never.
Written by Mitch Winstead from Advanced Mutual Group. Our agency has been helping people just like you for over 36 years. We have a health background as a co-owner of a Physical Therapy practice. That among years of experience and expertise sets our agency apart from other agents or brokers. Our advice is free and if you call us you have no obligations to buy. call us today! Our toll-free number is 866-598-8170 or 910-452-1922. If you prefer email, please click this link firstname.lastname@example.org. We also have a quoting tool on our website if you would like an instant quote. Our secure website is https://advancedmutualgroup.com. We will not share or sell your information with anyone. We have a Facebook page that also has some helpful information from our other website Allstar Senior Benefits. Please click this link to visit us here http://www.facebook.com/medsuppguruwww.facebook.com/medsuppguru. If you would like help in finding a lower cost Medicare Supplement, please visit us here by clicking this link http://www.allstarseniorbenefits.com