About Burial Insurance for a Death of Natural Causes

Series Summary

Insurance is viewed by some as a waste of time, until it is needed. There are many different types of insurance, including health, life, auto and burial insurance. Paying the monthly or semi-annual premiums for insurance is a pain, but it is nice knowing that everything is taken care of should the worst come to pass. In this free video series, an insurance agent provides information about burial insurance. Discover how burial insurance works for a death of natural causes, how burial insurance works for seniors, and what burial insurance covers. Learn about low cost burial insurance, and find out the difference between burial and life insurance.

Video Transcript

"Hello, my name is Bill Hager. I'm a licensed life, health and annuities agent in the state of Florida. The question's come up about purchasing burial insurance for death due to natural causes. Basically what this entails is a form of life insurance. Typically an average funeral these days runs between ten or fifteen thousand dollars. You should consult, if you're interested, consult funeral directors in your local market area to find out what the average rate is in your specific location. But in general a burial insurance for death due to natural causes, if in most states age eighty and below, if at the time that the person applies for the burial insurance, there is a guaranteed issue type of policy. Guaranteed issue means that there is no medical underwriting question. Actually the insured can already been deemed to be terminally ill and the policy would still pay out at time of death. So it behooves somebody to do the investigation in the local market areas to see what plans are available. So guaranteed issue policy, there are no medical underwriting questions, and the person is guaranteed to be accepted for the policy simply by paying the premiums. Over age eighty in most states it is not available. Therefore is somebody is already deemed to be terminally ill, and they're past age eighty, they're probably not going to be able to find a policy that they can qualify for to pay for those final expenses. So under age eighty, it would be a very wise move to do so that the party members and members of the family, after the departure of the insured, are not going to be hit with that huge expense of a funeral unexpectedly. Insurance is the best way to cover that particular expense. Again, I hope that answers your question. My name again is Bill Hager. I'm a licensed life, health and annuities agent in the state of Florida. Thank you."