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Understanding Burial Insurance 

A photo of a senior gently holding a paper cut out circle of his or her family members to represent the importance of understanding burial insurance and how it can help provide financial support during times of grieving

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Providing Financial Support When It’s Needed Most

A type of whole life insurance is known as burial insurance. This policy pays for final, funeral, or other end of life expenses.

There are three types of burial insurance policies: pre-need insurance, guaranteed issue, and simplified issue.


Burial insurance, a form of whole life coverage, offers financial security for end-of-life expenses like funerals. It encompasses three policy types: pre-need, guaranteed issue, and simplified issue, letting you choose beneficiaries and coverage. With no restrictions on usage, payouts cover funeral arrangements, medical bills, debts, and legal expenses. Cost-effective and accessible, these policies start at $53/month with coverage ranging from $5,000 to $35,000, requiring no medical exams or considering pre-existing conditions. Planning for funeral costs becomes essential, and burial insurance provides a viable solution, offering peace of mind during challenging times.

How does burial insurance work?

You can choose your beneficiary upon your death and the amount of coverage when you take out the insurance policy.

Your beneficiary must contact the insurance company as soon as possible to begin the claims process following the insured’s death. The beneficiary may be required to provide identification, a claims form, and provide a certified copy of your death certificate.

Funeral Insurance Covers:

There are no restrictions on how the insurance payout will be used. Your beneficiary may choose to use the payout for:

• Funeral service and viewing arrangement

• Interment and burial costs

• Costs of cremation

• Any medical bills

• Any debt remaining outstanding

• Any legal costs

If you need to leave a substantial sum, a whole-life policy may be a consideration.

Burial Insurance Policy Cost

One of the most affordable types of insurance today, burial insurance, is available even for older adults. This is due to its lower coverage amounts.

Regarding burial insurance costs, final expense life insurance rates start at $53 a month, with coverage amounts from $5,000 to $35,000, and premiums can be paid monthly or annually.

Funeral insurance policies do not require a medical exam, and pre-existing conditions are not a consideration in obtaining a policy.

Types of Burial Insurance 

Simplified Issue

The insurance company evaluates your medical health; no medical examination is required. 

Guaranteed Issue

No medical examination or questions are asked. Because the risk is higher to the insurance company, this type of policy costs are higher. There is a waiting period of about twenty-four or thirty-six months to receive full death benefits.

Pre-Need Insurance 

Your funeral provider will be a part of the contract in this type of policy. This agreement includes specific services and products you wish to have and are selected through the funeral home. The policy payout goes directly to them instead of your beneficiary.

Is Burial Insurance worth it?

According to the National Funeral Directors Association, the median funeral cost in 2019 was $7,640. So, suppose you’re on a tight budget and can’t afford a standard life insurance policy. In that case, funeral insurance can give you the coverage you need to handle significant end-of-life expenses. 

Burial insurance is typically a whole-life policy that lasts until you pass away. 

Plan for funeral costs

The cost is one of the most important things to plan for your funeral. Once you’ve decided what type of service you’re looking to have and whether you’d like to be buried or cremated, planning how you’ll finance it is essential. Letting your loved ones know what to expect in advance takes a massive burden off them during an already difficult time.

If you’re still considering pre-arranging your service, Jeff Monreal Funeral Home can answer your questions and help you make the right decision for you and your family.

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