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Burial insurance is a terrific idea for all individuals who need an affordable plan to cover the expenses associated with death.
The simple fact is that we will all die. Someone, usually a surviving spouse or relative will be required to pay something to have someone placed in their final resting place.
Here is a short list of expenses associated with the burial process:
- Funeral Home
- Cemetery Plot
- Embalming
- Viewing
- Casket
- Doctor Bills
- Headstone
- Flowers
- Vault / Outer Case
- Hearse
- Probate / Legal Fees
- Miscellaneous (unpaid bills etc.)
After adding up all the costs associated with the above you quickly realize that dying can be quite costly. Final Expense or Burial Insurance offsets that cost with an insurance plan designed specifically to cover these expenses.
Key Benefits:
- Inexpensive. Benefits are typically between $5,000 - $25,000 and the premiums are usually affordable by most
- Benefits are usually tiered with lower coverage levels in the early years of the plan which ramp up to a maximum level that you choose over a 1-3 year period
- Requirements for obtaining coverage are simplified (short form applications)
- Most policies can never be cancelled by the insurance carrier once they issued as long as scheduled payments are made on time.
Final expense or burial insurance is a great idea for all individuals to evaluate.
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