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Burial Plans


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A burial plan is a wholly unique style of insurance. In comparison to other types of plans, burial plans are pretty inexpensive but have limitations on what they will cover, how long they last, and there are no investment opportunities. This policy is a unique plan to protect your family from any final expenses you may have, that you do not have the assets to cover in the event of your passing. They have some strengths, but lack in other key areas when compared to a true term-life or whole life insurance policy.

These limitations are the same contributing factors to the low cost. You will not typically be required to take any medical testing before signing up for these plans as they do not have large death benefits.

A burial plan is set to compensate for your funeral expenses, ensuring you don't leave your family with the high cost and sudden expense in the event of your death. These plans are easy and can be started the day of. Quotes can be completed online and often you can initiate your policy yourself.

The real benefit on a burial plan is in the cost, but the death benefit has pretty limited uses. This plan does not cover any kind of lost income for your family, instead is designed specifically to cover the costs of the funeral expenses and nothing more. It will pay for the casket, funeral services, and the burial costs, but it can not help pay for your mortgage or any other bills your family may struggle with in your absence.

For these reasons, this plan is typically best for single individuals who do not want to pass that burden onto their siblings or another close family member. As these policies are typically very inexpensive, it should have a minimal impact on your finances, barely changing the total costs of your insurance coverages.

The technical payout for this coverage is for any "final expenses". This could be used to cover anything for the funeral proceedings provided it does not exceed the death benefit. This would allow you to specifically select how you would like your funeral proceedings to occur and ensure your family has the resources to cover your wishes.

These policies are limited in duration by terms. At the end of the policy duration, you can elect to continue the policy along the adjusted terms set by the coverage provider. However, these policies do begin to increase in cost a great deal in your later years. Someone looking for true long-term life insurance should instead look at a whole life, universal life or a variable universal life insurance policy. These provide a more stagnant rate and, in the case of the universal life policies, a return on investment.

These policies provide an affordable option, easy to acquire and worth every penny if you do pass away during the coverage period. These policies will often be non-renewed should the insured be diagnosed with a terminal illness before the renewal date, however, are still alive by the time coverage ends. All in all, this works as a general plan to protect your family in the event you pass without many assets to your name. If you are financially secure and have the assets to cover your funeral proceedings, you will almost certainly pay more into this type of insurance plan throughout your life than you will receive in the death benefit.

You can receive a quote for this insurance policy online; often you can begin these policies online as well. Sometimes this can even be done the same day without needing to receive a physical or doctors evaluation. This is far easier and can be done more simply than most insurance policies dealing with your mortality and eventual passing.

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Kevin Charles

Associate Writer

Kevin is the newest member of the Wavez writing staff. He lives in Los Angeles and got his start as a screenplay writer. He still loves writing scripts in his free time and hopes to one day have a play on Broadway!