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Guide to Burial Insurance
In these tough times, being born and dying comes with a huge cost. Sometimes, the cost of death becomes so heavy on the shoulders of the departed soul’s loved ones that they cannot even mourn him. They have to arrange funds for a decent burial that their loved one deserves. Luckily, ‘Burial Insurance’ saves you from this hassle.
What is Burial Insurance?
Burial Insurance is an insurance policy that helps the beneficiary of the deceased by paying off his/her expenses for funeral and burial. It is different from life insurance as it does not cover big expenses for beneficiaries of the deceased (for example, mortgages and college fees).
How Much Does Burial Insurance Pay to The Beneficiaries?
Burial insurance comes in different packages, typically ranging from $5,000 to $50,000. The insured individual can choose from a variety of options and monthly premiums.
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Benefits of Burial Insurance
Burial Insurance can help you finance your final expenses and give your loved ones wouldn’t have to worry about those expenses. You just have to put a few bucks aside every month, that wouldn’t be a burden for you and would pay off in the future.
Terms of Burial Insurance
Sometimes, the terms and conditions of burial insurance of certain insurance companies are unfair and are not worth your money. For example, an XYZ insurance company may agree to pay $5,000 in the case of death but mention in the terms that the beneficiary may only receive the amount in case of ‘an accidental death’ or the insurance is just for 2 years. You need to read all the terms and conditions of your insurance policy.
Good Burial Insurance Companies
There are many burial insurance companies. But a few of the best in the industry are highlighted below:
- Mutual of Omaha
- Royal Neighbors
We help you with choices.
About Insurance Company Phoenix
For over 165 years, Phoenix has been helping people protect their families and provide for the income they will need in retirement. In 1851 Phoenix is founded by a group of prominent business, religious and civic leaders in Hartford, Connecticut as the American Temperance Life Insurance Company, a company that insures only those who abstain from alcohol. 1865 Phoenix insured President Abe Lincoln. Today it is a subsidiary of Nassau Re headquartered at One American Row, Hartford, Connecticut and has $81.6 B Gross Life Insurance In Force $5.3 B Annuity Funds Under Management.
About Insurance Company
Liberty Bankers Life Insurance Company was originally incorporated by Pilgrim Life Insurance Company of America in the Commonwealth of Pennsylvania during 1958 as Royal Oak Life Insurance Company. It now has over $2 billion in assets under management, and in 2017 produced over produced over $300 Million in new premium.
Royal Neighbors brings its members a 117-year history of fiscal stability. Royal Neighbors has A.M. Best rating of A- Excellent for overall financial strength and ability to meet ongoing obligations to certificate holders. More than $979 million under management. Royal Neighbors is not an ordinary insurance firm. Since 1895, it has held true to their mission to support women and those they care about by offering opportunities that other companies don’t.
In addition to coverage, value added member benefits worth hundreds of dollars are included. Membership Savings include savings on like Dental, Vision and things such as scholarships, disaster aid, and health discounts. Attached is a Brochure with many of those value added benefits in lieu of your package being sent to your residence
About Insurance Americo
For over 100 years, Americo Life, has been committed to providing the life insurance. Americo Life, Inc., is one of the largest independent, privately held insurance holding companies in the United States. 6.6 billion in assets for. HQ Kansas City, MO. Americo Financial Life and Annuity Insurance Company has a financial strength rating of A from AM Best.