5 insurance companies with inexpensive burial insurance policies
Burial insurance, also known as final expense insurance, is basically an insurance policy set aside by individuals to cover for their funerals and burials. There is no benefit that may be reaped from this insurance, except that the expenses incurred after the death of the individual are paid off without any hassle.
It is a very well-thought insurance policy that is transparent and affordable. Considering how it only covers the burial expense, there isn’t a lot of premium that needs to be paid to sustain the insurance policy.
Check out the five best companies that provide cheap burial insurance policies.
- American Continental Insurance Co.
The company sells ACI/CLI Final Expense policy, which basically covers the burial expense of the individual under whose name the policy has been formed. There is no requirement for height, weight, or body examination from the company. However, individuals with chronic malign health issues such as heart disease or cancer won’t be eligible for the policy.
- Americo Financial Life And Annuity Insurance Company, Inc.
Americo offers an Ultra Protector Series wherein multiple levels of expenses are covered depending on the requirements of the policyholder. The premium depends wholly upon the level of policy that the customer is eligible for. The perk of Americo’s burial insurance is that they also provide an accelerated benefit rider after the death of the policyholder. This generally includes children as riders.
- Assurity Life Insurance Company
Assurity offers cheaper products which aren’t completely guaranteed. Their product, Simplified Whole Lifeline, is cheap and provides different levels of insurance depending upon the health condition of the policyholder. The price of all the policies is the same. However, the payout is variant, depending on successfully qualifying the questions asked during the interview round.
- The Baltimore Life Insurance Company
Baltimore Life’s Silver Guard life series offers three types of whole-life products that an applicant may purchase between the age of 50 to 80. Its availability makes it one of the best policies in the market. However, depending on the health of the applicant, the level along with the payouts is decided by the company.
- Gerber Life Insurance Company
It is not very often that individuals come across a finely detailed life insurance policy. Perhaps that’s what makes Gerber Life’s Guaranteed life insurance trustworthy. The policies are available for individuals between 50 to 80 years and are priced reasonably.