Burial Insurance - Frequently Asked Questions

Q: What is the application process like for a Burial Insurance/Final Expense policy?

A: Usually, there is a simple application that needs to be completed and a follow-up phone interview. Coverage may be guaranteed regardless of the health issues. The application helps determine which plan is appropriate.

Q: Do the premiums ever change on a Burial Insurance/Final Expense policy?

A: No. The premiums are level. They will stay the same until the policy is paid up. Additionally, the death benefit never decreases over the life of the policy.

Q: Are there any restrictions on how the death benefit can be used?

A: No. Beneficiaries can use the death benefit to pay for funeral costs, credit card debts, car payments, etc. This provides your loved ones with security and flexibility.

Q: Can the policy be cancelled?

A: No. The insurance company cannot cancel the policy except in the case of fraud or failure to pay premium.

Q: Is the Burial Insurance/Final Expense policy a term or cash value policy?

A: The insurance policy is a cash value policy. The cash value builds within the policy which may give you financial flexibility in future years.