Burial Insurance: Protecting Your Loved Ones from Financial Burden

Insurance companies offer various policies to cover different kinds of expenses in our daily lives and for the short and long term. Just like many other plans, there are policies to cover the burial costs. While the death of a loved one is a deeply grieving event, the expenses associated with a funeral ceremony or burial at sea can be costly, based on the wishes of the departed loved one and how exactly you want the entire funeral to be performed. This is the reason why more and more people are choosing to buy burial insurance policies. A sea funeral or final expense insurance is specifically designed to cover the costs of burial services, coffins, caskets, urns, flowers, wreaths, and many other related items and objects.

In this guide, we’ll discuss burial insurance plans in detail including what all expenses they cover and how they work. You can use all this information to make it easy for your family members to plan and arrange your final voyage in a proper manner while also making it a memorable event.

What is Burial Insurance?

Also termed as funeral expense insurance, a burial insurance policy covers all the costs associated with conducting a burial service as well as many other end-of-life costs. The coverage amount of these policies is usually much smaller than the amount covered in traditional insurance plans.

Burial insurance policies are usually bought to pay off the costs of the funeral service. But these plans provide coverage for a number of other end-of-life expenses such as medical bills and credit cards. After the death of the person with funeral insurance, the insurance company either pays the funeral home directly or issues an immediate cash payout to the grieving family. That is why the policy proceeds prove to be of immense help to the family of the deceased loved one. It helps the family members arrange a sea funeral or a sea scattering without any kind of worry and as per the exact wishes and desires of the departed person. Burial insurance policies can cover the funeral service expenses of an individual or a family.

Before you purchase a funeral expense insurance plan, you should definitely read all the terms in a careful manner. If you need expert help in this regard, feel free to reach out to one of the specialists at Burial at Sea in San Pedro, CA. Our professionals will answer all your questions.

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How Does Burial Insurance Work?

Before you purchase a burial insurance plan, it is important to first understand how exactly they work and how you can set them up. Being informed will help you make the right decision and choose an insurance policy that offers exactly the kind of coverage you look for upon your passing.

Requirements:

Burial insurance is quite different in terms of its underwriting from other types of insurance plans. The requirements for these policies are very easy-going for everyone. Even if you are elderly, you will be able to qualify for the criteria to set up a funeral expense policy for yourself.

Application Process:

Many people think that the application process for sea funerals or ashes at sea is complicated. But the truth is exactly the opposite; the application process is quite easy and simple. To apply, you don’t need to furnish any medical records or go through any medical tests. All you need to do is answer a couple of simple and general questions on health.

Premium:

The monthly payment for final expense life insurance is small. In fact, you can purchase these policies for as little a premium as $52 a month. Other types of life insurance plans require the payment of substantially larger amounts of sums. Most people choose to pay a monthly premium. However, you can also pay on a quarterly, half-yearly, and annual basis.

Death Claim:

After your demise, your beneficiaries will need to file a death claim with the insurance company from where you purchased the funeral expense insurance policy. The claim process involves two key steps:

1.  signing the death claim form
2.  submitting the death certificate

The cash payout or the cheque will be issued as soon as the claim has been approved. The policy benefits will be delivered to the beneficiary either in one lump sum or in installments.

When it comes to purchasing burial insurance, you should not forget to compare the plans of various companies. You need to go through all the terms and regulations in order to find the best option for yourself. If you need help with the selection of the right funeral expense policy, reach out to one of our experts at Burial at Sea, which is based in San Pedro, CA.

Our funeral company specializes in planning and arranging ocean burial and scattering ashes at sea off the coast of Southern California including San Pedro Beach, Long Beach, Los Angeles, and Catalina Island.

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What Do Burial Insurance Policies Cover?

Funeral expense insurance plans for seniors are designed for a range of costs for burial and related services. If you are still wondering as to exactly what kind of costs are covered by these policies, let us give you a list. The coverage may vary a little based on whether it is a traditional burial ceremony or a burial at sea ceremony. The beneficiaries will usually have the freedom to spend the claim amount issued by the insurance company to pay for the following.

• Casket, coffin, urn, vault, and viewing
• Burial plots
• Medical bills
• Outstanding debts
• Cemetery charges
• Cremation services
• Memorial at Sea services
• Flowers and wreaths
• Boat hire
• Other floral products

For deep sea burials and spreading ashes at sea, the funeral will need to be carried out in an eco-friendly manner. This means using biodegradable coffins and urns and other items and objects for the ceremony.

The right burial insurance policy means a huge help for the grieving family. While the family members are in deep pain after losing a loved one, the insurance claim amount will definitely ease their financial burden. Above all, it ensures that your final voyage will be performed in a proper manner. As per policy terms, beneficiaries can also keep the money that remains unused.

Types of Funeral Expense Insurance Plans

There is not one, but many different types of funeral expense insurance policies are available out there. If you wish for a proper funeral ceremony after your passing away, you should purchase the right policy. You can qualify for most of these end-of-life plans as per your specific needs. The monthly premium amount will depend on the current status of your health.

Level:

Qualifying for this plan means you will be paying the minimum premium amount. One good feature of this type of policy is that the insurance companies issue the benefits at the time of death immediately. The application for this plan contains a number of questions on health. If your answer to most of all these questions is negative, you will qualify for the same.

Standard:

The cost of this burial insurance plan is higher than that of the level insurance plan. But the full benefit amount will be issued immediately after the death of the person. In fact, the amount becomes payable right after you pay the first premium of the insurance plan.

Partial:

Just as the name suggests, the partial insurance plans will pay only a portion of the total benefit amount in the first two years. This means that the total benefit amount will be paid in installments over the course of four years. This type of policy is also referred to as a “graded death benefit.”

Modified:

This plan is the costliest of all burial insurance options. The modified plan is ideal for people who suffer from critical health issues. If you have severe health problems, you will qualify for this policy. However, this final expense or burial insurance plan usually has a waiting period of 2-3 years, which may vary a little from one insurance company to another.

Guaranteed Issue:

This is a plan where your approval is guaranteed, hence the name. That is why the application for this type of plan doesn’t have any questions on health or lifestyle for you to answer. The policy has a waiting period of 2-3 years before you are covered for the death benefits.

When you plan to purchase an insurance plan to cover your final expenses and other end-of-life costs, you should carefully weigh all your options and select a plan that is ideal for your specific needs. If you are in search of a burial insurance plan without any waiting period, you will see that multiple insurance companies provide it. Not all health issues get immediate coverage, but there are still some health issues that qualify for immediate protection. If you have a question in this regard, feel free to talk to one of our experts at Burial at Sea in San Pedro.

The Cost of a Burial Insurance Policy

Before you choose a funeral insurance policy, you should have complete information on how much it is going to cost you. There are policies available to suit different budgets and different needs. Based on how much you are willing to pay in premium, you should choose the right one.

You can choose to pay the premium for your burial insurance policy on a weekly, monthly, quarterly, semi-annually, or annual basis. Usually, the starting premium amount is small. Plus, the insurance company can send their agents to collect payment right from your home or workplace. If you are planning a $10,000 dollar benefit, you should expect to pay a monthly premium between $50 and $100. How much you will be paying as a premium depends on a number of factors including your age, gender, health condition, usage of tobacco, etc. The cost of a funeral insurance policy may also vary from one state to another.

End of Life Insurance vs Funeral Insurance

When you start looking for the right burial insurance plan, you will also come across end-of-life insurance plans. It is crucial to understand the differences between the two so as to make the right decision.

A funeral insurance policy pays for the cost of burial and other related services. But an end-of-life insurance plan provides a larger and more comprehensive coverage. It provides a financial benefit to the insured person’s beneficiaries after the passing away of the former. When an earning member of a family dies, their family members face a heavy financial burden. An end-of-life insurance policy, therefore, is used to ease the financial burden that the family members struggle with and help manage the expenses post the death of a departed person.

A funeral insurance policy is specifically designed to cover the cost of conducting the burial ceremony of an individual.

Therefore, the two insurance policies serve two different purposes, which you have now understood. If you plan ahead and properly, both end-of-life and funeral insurance plans for full body burial at sea or traditional burials can bring huge relief to those who are left behind after the death of a person.

Beware of Bad Apples in the Insurance Industry

When you plan to purchase a burial insurance policy for yourself or your family members, you should stay informed and careful. Like other industries, the insurance industry too has some unscrupulous elements.

To avoid getting scammed, you should do your research really well regarding the type of policy you are in search of and then purchase it from an insurance company that is fair and honest. You should purchase your funeral insurance plan either from licensed insurance agents or funeral homes. In order to find out you are working with a trusted agent, you should not hesitate to ask some of the most important questions about premium payment, coverage terms, policy termination, waiting period, etc. Most of all, you should review the policy in a thorough manner after approval. Keep in mind that no insurance company will ever ensure you before you have gone through the application procedure and been approved.

Still, Have a Question about Burial Insurance?

Burial insurance is a good idea if you want your last voyage to be carried out without any kind of hassles or burdens on the family members. If you are interested in this truly worthwhile purchase, feel free to get in touch with Burial at Sea in San Pedro, CA. Our company provides ocean burial services including full body burial at sea, ashes buried at sea and boat hire for scattering ashes. The right funeral insurance plan will give you peace of mind knowing that your family will be able to conduct your funeral ceremony without feeling any financial burden.

You can reach out to our office via a quick phone call or fill up the enquiry form given on our website to talk to a professional.

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