Burial Insurance – Is it A Good Deal?

Posted on March 22, 2010 and updated December 16, 2019 in Funeral Insurance, Insurance Types, Life Insurance Canada News, Non-medical, Permanent Insurance 2 min read


Burial insurance, otherwise known as funeral insurance, is essentially a permanent life insurance policy – the premiums are fixed and the plan provides lifetime protection.

Burial life insurance policies pay out a lump sum tax free death benefit that can be used to cover the cost associated with final expenses. Funeral expenses have doubled over the last 15 years with an average price of $7,500 (including announcements, floral decorations, etc…)

Pre-planning funeral expenses can result in saving the insured’s loved ones significant amounts of grief as well as saving countless arguments among family members.

There are generally three types of permanent life insurance policies:

1. Traditional permanent life policies, which can take the form of a Whole Life, Universal Life or a Term 100 plan. These policies require a medical exam and ask a full host of health questions.

2. Simplified issue life insurance plans which have no medical tests, but ask three to 12 health questions.

3. Guaranteed issue coverage which has no health questions and no medical tests.

Traditional life insurance is generally least expensive, while Guaranteed Issue life plans are going to be the most expensive and usually have a two-year waiting period on the death benefit.

For more details you can contact us at 1-866-899-4849 or visit our Non-Medical Life Insurance Quote Page.


I wanted to get info on any a Whole Life coverage policy that keeps in line with inflation. I’m worried that if I buy a policy it wont go up with inflation and my family wont have enough mony..

LSM Insurance
LSM Insurance

Thanks Irv. Several companies offer Participating Whole Life Insurance with an increasing death benefit option. We will send you a separate email now and can get started helping with some quotes / information.