Burial Insurance 101

  • Specialized type of life insurance designed to cover costs of funerals and burials
  • Coverage amounts from $2,000 to $50,000 depending upon insurance company and product
  • Usually available to individuals up to age 85

Burial Insurance Overview

What is burial insurance? Burial insurance, also sometimes referred to as final expense insurance, funeral insurance or preneed funeral insurance, is a specialized type of life insurance. Unlike some other types of life insurance that are designed to provide an inheritance to heirs or pay off a mortgage, burial insurance is specifically designed to cover the expenses associated with a person’s funeral and burial. InsureMyBurial.com allows consumers the opportunity to quickly, and easily, obtain custom burial insurance quotes from multiple insurance companies.

Why Burial Insurance Is Important

With the rising costs of funerals, caskets, burials, cemeteries and other expenses associated with someone dying, final expense or burial insurance is a cost effective way to provide the funds necessary to pay for these expenses. Funerals and burials can easily cost over $10,000, with some reaching as much as $20,000. An unplanned expense of this amount can create a devastating financial hardship for many families. Burial insurance is designed to cover the expenses of a funeral, cremation and/or burial so families don't struggle financially, while also dealing with the emotional loss of a loved one. With relatively low premiums, and easy insurance company underwriting, burial insurance policies are a quick and easy way to ensure your loved ones don’t struggle with the costs associated with a person’s death.

How Does Burial Insurance Differ Other Types of Life Insurance?

  • Burial insurance policies are typically issued in smaller death benefit amounts than traditional life insurance. Anything less than $50,000 would be considered final expense or burial insurance
  • Burial insurance is written to cover funeral expenses and other small end of life expenses, not provide lifetime income for a family or pay off mortgages
  • Little, to no, medical underwriting
  • Burial insurance policies can pay beneficiaries in days or weeks, which is must faster than other life insurance types that might take 3 months to process and distribute funds to the beneficiaries

Burial Insurance Coverage Amounts

Burial insurance policies are typically $1,000 to $30,000, but can sometimes go up to $50,000. Policies with death benefits larger than $50,000 are not usually considered burial insurance policies and are most often categorized as traditional life insurance. Since burial insurance policies are specifically intended to cover funeral and burial expenses, the death benefit amounts closely match the actual costs to have a funeral service, cremation or burial. For those seeking more coverage, of say $100,000 or more, a traditional life insurance policy may be more appropriate. In many cases, a burial insurance policy and more traditional life insurance policy, may be purchased separately to address different needs of a family.

Burial Insurance Companies

Burial insurance policies are available through large, well known general life insurance companies, that offer burial insurance as one of many life insurance products. In addition, there are a number of insurance carriers that specialize in offering just burial insurance policies. In general, a specialty burial insurance company can't be viewed as better or worse than a large general life insurance company. As a consumer, it is vitally important to compare companies, prices and products before purchasing a burial insurance policy.