Positives and Negatives of Burial Insurance

There is much to organize before the end of life, so loved ones can deal with the painful loss without feeling excessively burdened. For instance, having a power of attorney and will to ensure that the estate is equally distributed among family members is a prudent decision, effectively eliminating confusion.

The cost of investing in a final insurance policy where premiums can range from $32 to $160 each month, is among the most crucial aspects of this planning. Besides the funeral expenses, the money from these policies can also cover medical bills, allowing the beneficiaries to determine how else to spend the amount.

Here are some vital pros and cons of these policies, helping you determine if you are a good candidate for one.

Advantages of the cover

A final expense policy can help give your family peace of mind by covering the funeral expenses, effectively easing their financial burdens while they grieve. It can also do the following.

  • Anyone over fifty can apply for a policy and enjoy coverage ranging from $2,500 to $50,000, depending on the circumstances.
  • Simplified issue policies offer a reasonable amount of coverage without needing buyers to undergo a medical exam, making it easy to have a fall-back when the time comes.
  • The guaranteed acceptance coverage is a good alternative for those who do not qualify for the above policy since it does not entail any health questions or a medical exam.
  • The money from these coverages can cover everything from the casket and the service fees to the embalming and transport. It is one of the primary reasons why people buy insurance in the first place.
  • It can also pay for various expenses besides funeral costs, such as medical bills and mortgages, preventing loved ones from spending from their wallets.
  • You can withdraw funds from the burial insurance policy if needed, making it a convenient safety net in emergencies.
  • These policies generally make payments quickly, allowing grieving families to plan for the burial and make the other necessary arrangements.
  • The average premiums can range from $32 to $160 each month, making it an affordable option for many people.

Possible negatives

The following is a list of some downsides of funeral insurance that some folks may invariably encounter under certain circumstances.

  • You may not be able to get discounts or a lower premium payment plan without a medical exam.
  • Some people may not qualify for simplified policies, having to settle for costlier guranteed issue ones instead.
  • It is nearly impossible to change a plan once it is purchased and put in motion.
  • Some coverages have a graded death benefit, which means that a refund of the premiums is paid to the beneficiaries if the buyer passes on within two or three years of purchasing it. A percentage of the coverage may be paid in some instances, depending on the cause of death.


While burial insurance has ups and downs, the benefits outweigh the negatives in most cases, making them a valuable investment option for many families. Moreover, you may even be able to buy a policy for loved ones, such as kids for their parents, ensuring there is enough money to cover all anticipated expenses.

Therefore, consult a reliable insurance expert, and consider investing in a suitable policy. It can make the end of life less burdensome for all.

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