Burial insurance in Texas often marketed to seniors to cover their big funeral expenses. However, the name burial insurance puts some people off, but it is the reality that everyone has to face. And if you are a senior, you are a little closer to the grave than an adult. But one day, everyone will be there. So, for seniors, it is not only important to prepare for the inevitable mentally but financially also as funeral expenses are increasing day by day. Nowadays, a funeral can cost you anywhere from around $7000 to $10000.

Like any other insurance policy, there are lots of things one should know before buying burial insurance in Texas. Let’s have a close look at some important things about burial insurance.

How does burial insurance work?

Burial insurance is a type of life insurance policy that focuses on covering the funeral expenses of the insured upon death. In burial insurance, you have to pay the monthly or annual premium, and you will get benefits in place of premium as per the policy terms and conditions. The purpose of burial insurance is to cover funeral costs, which are increasing day by day. It covers the cost of funeral service, casket, cemetery plot, headstone, funeral procession, and other miscellaneous costs.

What are the advantages of burial insurance?

Burial insurance is not an ideal choice for everyone, but for a certain category of people, it is highly advantageous. For example, if death is expected in the next few years, burial insurance can help manage funeral expenses in a great way. Following are the key advantages of burial insurance:

Low premium

The premium of burial insurance policy is quite low as compared to other life insurance policies. You can buy a burial insurance policy for as little as $10. Premiums can be paid monthly or annually, whichever is most convenient for you. Burial insurance is one of the cheapest life insurance policies available in the market. If you want to cover your funeral expenses only, you can do it by buying burial life insurance. There is no point in buying some other expensive life insurance policy to do that. Burial life insurance will get the same thing addressed very cheaply. Death benefits will go directly to the individual you select as your beneficiary.    

Easy approval 

Another key advantage of burial insurance is one can easily qualify for it. There is no pre-medical examination required. Your acceptance is guaranteed in most cases. Even those in poor health or have some serious health conditions can qualify for life insurance. It means the pool of insured people is at higher risk. That’s why coverage is not so high as per the premium in the burial insurance, but sufficient enough to cover the burial expenses.   

Sufficient coverage       

Usually, people purchase burial insurance in Texas for small amounts, such as $5000 to $10000. This means the premium will not be too high, but coverage is sufficient to cover your funeral expenses. The average cost of a funeral in the United States is $7500, and that can be easily covered in burial insurance. More importantly, it is a type of permanent life insurance policy, so your beneficiaries guaranteed the identified benefits upon the death of the insured. Burial insurance pays benefits to beneficiaries of insured who can then use the money for final expenses, including outstanding bills, legal costs, debts, and funeral.

Who is an ideal candidate to buy burial insurance?

Anyone aged more than 50 years can buy burial insurance. If you want to buy it for aged members of the family to cover their burial expenses, it is a good way to pre-arrange the funds. However, if you are looking for a long term policy for the next 20 to 30 years, then other life insurance policies will serve you better. Burial life insurance is usually purchased when death is expected in the next few years and seen as a token of love for your loved ones so that they don’t have to struggle to manage their funeral expenses. Some people purchase burial insurance in Texas in addition to an existing life insurance policy because they want to have funds to address their specific needs.