Funerals aren’t something people like to think about, but planning for them can save a lot of stress and money down the road. Whether planning ahead or preparing for the unexpected, affordable burial insurance can make a huge difference.
At Midwestern Marketing, we understand the importance of helping families find financial security during life’s most challenging moments. That’s why we’re here to explain how burial insurance works and how it can bring peace of mind.
Why Burial Insurance Matters: Planning
Burial insurance, often called final expense life insurance, offers a death benefit that covers costs associated with funeral services, memorials, cremation, and other end-of-life expenses. Planning ahead covers these costs, while waiting until the unexpected happens can leave families scrambling for solutions.
Consider these scenarios:
- Planning Ahead: Clients can secure an affordable final expense policy while they’re healthy, locking in lower rates and ensuring their family won’t need to worry about finances during a difficult time.
- Preparing for the Unexpected: If a loved one passes without coverage, out-of-pocket burial costs quickly add up, with the average cost of a funeral ranging from $5,000 to $10,000.
Who Can Benefit From Burial Insurance?
Affordable burial insurance isn’t just for seniors—it’s for anyone who wants to protect their loved ones from unexpected financial burdens. Here’s who might benefit the most:
- Seniors: Many retirees live on fixed incomes, making it crucial to have a funeral plan that won’t strain their budget.
- Young Families: Young parents in good health can use burial insurance to ensure their children aren’t left with unexpected costs. Policies can also build cash value, providing an added layer of financial strength.
- Individuals with Health Issues: Unlike traditional life insurance, many burial policies offer simplified underwriting, allowing you to qualify without a medical exam.
- Those Without Savings: If you don’t have significant savings set aside for end-of-life costs, funeral insurance provides an affordable solution.
Finding Affordable Options
At MWM, we believe everyone deserves peace of mind without breaking the bank. Here’s how to find an affordable burial insurance plan:
- Compare Premiums: Monthly premiums vary based on age, health, and coverage amount. Start early to lock in lower rates.
- Choose the Right Coverage Amount: Policies typically range from $5,000 to $25,000—just enough to cover funeral costs and small debts.
- Understand Underwriting: Some plans have simplified underwriting, while others have graded benefits, meaning full coverage kicks in after a waiting period.
Final Expense vs. Traditional Life Insurance
Many people wonder: Is burial insurance different from a traditional life insurance policy? The short answer is yes.
- Burial Insurance: Provides lower coverage amounts, typically ranging from $5,000 to $25,000, with a simplified approval process that often skips medical history and health questions. It’s designed specifically to cover expenses such as funeral costs, medical bills, and small debts.
- Traditional Life Insurance: Offers higher coverage amounts, usually starting at $50,000 or more, with stricter underwriting requirements that often involve a medical exam. Life insurance is commonly used for income replacement, mortgage protection, or large debt repayment.
For those solely concerned with funeral expenses, burial insurance offers an affordable, straightforward solution.
Helping Clients Choose the Right Policy
Insurance agents play a crucial role in helping clients navigate the complexities of finding the right affordable burial insurance policy. By offering personalized guidance, they ensure clients make informed decisions based on their unique circumstances. Agents consider:
- Budget: How much can policyholders comfortably afford each month without straining their finances? Agents can identify insurance premiums that fit within a client’s budget while still providing adequate coverage.
- Amount of Coverage: What specific expenses should the policy cover? You can help clients determine whether they need coverage for funeral costs alone or additional expenses like medical bills and outstanding debts.
- Health Status: Are clients eligible for simplified or guaranteed issue policies? Assess health conditions to find policies with the best terms and the quickest approval process.
At MWM, our comprehensive resources help agents understand each client’s unique situation, ensuring they can present insurance products that align with both budget and coverage needs. By addressing these factors, insurance agents ensure their clients receive the right coverage without overpaying or compromising on protection.
How Affordable Burial Insurance Provides Peace of Mind
Imagine the relief of knowing your family won’t face financial stress while grieving. Burial insurance does more than cover costs—it provides a safety net that allows your loved ones to focus on celebrating your life rather than worrying about expenses. The payout from a policy can be used to settle outstanding bills, including payments to the funeral home or even credit card balances. Without a policy in place, family members often scramble to find funds, sometimes resorting to loans or dipping into savings. With final expense coverage, you’re not just covering funeral costs—you’re ensuring that no one has to make tough financial decisions during an already emotional time. It’s a final gift of love and responsibility, showing your family how much you care for their well-being even after you’re gone.
Affordable burial insurance is an essential part of end-of-life planning, whether you’re preparing in advance or facing unexpected circumstances. It allows loved ones to focus on healing instead of finances, offering a crucial safety net against unexpected out-of-pocket expenses.
At Midwestern Marketing, we empower insurance agents with the tools and knowledge they need to guide their clients toward the right burial insurance policy. Whether you’re assisting a client in planning ahead or responding to an urgent need, we simplify the process by providing clear, honest guidance and support.
Contact us today to see how we can help you better serve your clients—because peace of mind shouldn’t have to wait.
Midwestern Marketing is a true FMO where a handshake still means something. We value our agents and take service and contracting to a new level. The teamwork and principles by which we operate are reflected in the thousands of agents we serve nationwide. Feel free to call 877-278-3775 or email us at info@midwesternmarketing.com. We are certain we can help you grow your business!