How Does Funeral Insurance Policy Work?

We get a lot of questions on funeral insurance and how it works. In terms of funeral insurance, you can have a policy that is owned by the funeral home. Alternatively, what I’ll talk a little bit about now is an individual policy that is owned by the policy owner but is being used to cover funeral expenses.

The advantages of this are that you own the policy, you choose your benefits rate, and you can even set up some of these policies where there is an increase in death benefit to help with escalating funeral costs.

You can set it up so it covers funeral expenses, maybe has a bequest to the family, or to an additional organization you want money to go to. You can tie in a lot of different needs, but you can either look at just covering the funeral need or at covering other types of needs within that period.

The other good thing about the funeral insurance programs we offer is that you can get issue ages anywhere up to age 85. Someone aged 85 can actually get a life insurance policy to cover these expenses with no medical tests. Obviously, the costs for an 85-year-old are going to be a little more than the costs for a 65-year-old or a 55-year-old, but the good thing is that you can get that without a medical, and you can get these plans that even start with a benefit from day one. That is a really nice feature as well.


Visit our Funeral Insurance page to find out more about funeral coverage and get a funeral insurance quote.

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