Burial insurance is a term that applies to life insurance. Burial insurance usually refers to a life insurance coverage with an investment return of up to $5k to $25k. Burial insurance can be designed to pay for one individual or a number of people in a family. In some states, burial insurance is licensed by funeral home professionals to sell funeral insurance, but generally it is sold directly through agents and brokers of various insurance providers licensed by state to sell life insurance. Burial insurance coverage can be designed with a wide variety of investment choices.
It is also possible to get a free quote for burial insurance online. You can visit the websites of various insurance providers to request a free quote. You will need to provide certain information about your family and the expected costs of your burial insurance coverage. Some of these questions may include your gender, age, weight, height, blood type, cholesterol level, medical exam history, occupation, expected expenses, and information about any pets you have.
You may also need to provide information about a Lincoln Heritage account or a Special Needs Trust. Some life insurers offer these accounts to families who want a final expense plan with flexible investment options. A Lincoln Heritage Account gives you a choice of investments, including CDs, money market funds and certificates of deposits. Your last financial wishes are also recorded on the account. A special needs trust allows you to create a retirement or investment plan for your loved one.
Insurance providers offer burial insurance policies in several different forms. Some have features that include insurance at a fixed rate and a waiting period. Other burial insurance policies have an “accelerated payoff” and offer an instant payout on your policy, depending on your medical exam results. Most medical exam cost estimates take a few weeks to receive, depending on what the medical center has to offer. There are also plans that provide cash payouts, regardless of the waiting period.
It’s easy to find burial insurance in New York. Many life insurers sell policies in the state. To get an instant quote on a policy in New York, log onto an online insurance company website. The web sites usually offer a free quote calculator, allowing you to plug in information about your age and your expected life span. If you are healthy and have no risk factors, you should be able to get an instant online quote.
The easiest way to buy burial insurance in New York is online. Some companies offer quote generators, which allow you to enter your expected life span. Entering your information a second time provides an estimate based on your information. Once you’ve found an online quote generator, fill out the necessary paperwork and submit it. Within just a few minutes, you’ll have your funeral insurance quote.
Burial costs can be overwhelming. A burial insurance policy can help defray those costs. By paying a small monthly premium, you can take care of the funeral costs at a reduced rate. You can select how much you want to pay up front, and it can vary by each individual. However, you can also save money by making sure that you get enough coverage. In addition to making sure that you have the policy number, you should also get the following: a policy booklet, a phone call or email informing you that you’ve won the policy, and your name printed on the policy.
Burial insurance policies also come with specific type of coverage. Term policies provide coverage only for a specific time period. They are good if you need temporary coverage for a temporary life event. Your final expense insurance ensures that you’ll have adequate coverage in case of your death.