The goal is generally to leave money behind to help pay for expenses such as:

• Funeral services.
• Burial or cremation.
• Cemetery expenses.
• Outstanding bills.
• Other final expenses.

The amount of coverage needed depends on the individual and what they want the policy to accomplish.

Two policies can both be advertised as burial insurance and still have important differences.

Check:

Is the death benefit guaranteed?

Is the premium guaranteed?

Does the full benefit begin immediately?

What happens during the first few years?

What happens if you stop paying?

These details can matter more than the name printed on the advertisement.

Life insurance proceeds are generally paid to the beneficiary named in the policy.

That means the money is not necessarily restricted to paying the funeral home.

The beneficiary typically uses the proceeds according to the policy and applicable law.

That can provide flexibility when other expenses arise.

Before purchasing burial insurance, check what you already have.

You may already have:

• An existing life insurance policy.
• Employer coverage.
• Savings earmarked for final expenses.
• Other assets available to your family.

Adding another policy may or may not be necessary.

One of the easiest ways to get confused is comparing a $15,000 policy with a $25,000 policy and then deciding that one is “cheaper.”

Start with the same coverage amount.

Then compare the premium, benefit timing, guarantees and other important policy features.

Don't buy burial insurance simply because the advertisement makes it sound easy.

Understand what the policy guarantees, what it costs and what your family actually receives.

Lifeguard Insurance Services helps seniors understand and compare final expense insurance options, so they can make an informed decision—not simply buy the first or the cheapest policy they're shown.

Want us to look at your situation and see what makes sense?

Call me, or request a quick Review.

Insurance products, availability, underwriting and policy terms vary by insurer, state and individual circumstances.