Burial Insurance Arkansas: Coverage for Final Expenses
Burial Insurance Arkansas: Coverage for Final Expenses Last Updated on: November 13th, 2024 Reviewed by Kyle Wilson Licensed Agent @ Burial Senior Insurance Get A Free Quote Burial Insurance Arkansas is merely life insurance that covers any burial or funeral cost, and many Arkansas families invest in such policies for security, just in case a serious thing happens so they won’t burden family members when it hits them. Now, even with affordable terms, the funeral expenses will not stress families much. There are varied comparisons of options from providers that help determine the best Burial Insurance Arkansas plan to suit one’s needs and budget. Get Free Quotes Customized Options Await Quotes Now Why Burial Insurance Matters for Arkansas Residents Burial Insurance Arkansas is one of the leading sources to protect loved ones from unexpected costs. A funeral can run into multiple thousands of dollars quickly, so it can put a heavy burden on grieving families. Burial insurance in Arkansas offers peace of mind and covers these costs, so families aren’t burdened financially. Lincoln Heritage is among the best-known. They have final expense insurance, ranging from a variety of policies especially dedicated to funeral and burial expenses. Having plans available that cater to the flexibility of aged individuals, Lincoln Heritage is quite excellent among its clients who wish to consider burial insurance in Arkansas. Arkansas Insurance Regulations for Burial Insurance The Arkansas Insurance Department Funeral Services Division regulates all types of Burial Insurance in Arkansas from application to finalization. It has standard requirements that every provider has to meet, ensuring consumers have equal benefits without losing the protection and controls funeral services practice and burial insurance Arkansas plans across the state, including the likes of Lincoln Heritage. These rules keep the policies of Burial Insurance Arkansas cheap and hassle-free. Additionally, they will also help protect consumers from the companies charging more than is necessary thereby making available to Arkansas residents some of the cheapest burial insurance in Arkansas. Before buying the policy, it may be useful to refer to the guidelines by the Arkansas Insurance Department for a better understanding of your customer rights. What Does Burial Insurance Cover? Many funeral-related costs are usually covered by burial insurance coverage. These may include: Funeral home services The casket or urn costs Burial plot or cremation fees Memorial service expenses Transportation for family members Unlike standard life insurance policies that cover larger amounts and require extensive underwriting, burial insurance is usually easier to obtain. Policies are often approved with minimal health questions, and most residents over 50 can qualify. Cheapest Burial Insurance Options in Arkansas Key Point Details Low-Cost Burial Insurance in Arkansas Many providers offer competitive quotes for burial insurance in Arkansas. Comparison of Lowest Cost To ensure the lowest cost, comparisons and rate calculations should be made across various providers. Special Plans for Seniors Many insurance companies offer special plans for senior citizens, making it easier to find affordable final expense coverage. Simplified Application Process Providers like Lincoln Heritage offer simplified application processes and quick approval without medical exams. Free Burial Insurance in Arkansas Some companies offer free burial insurance for those who qualify based on financial need or special assistance programs. Availability of Free Insurance Free burial insurance may be offered through local agencies or nonprofit organizations that have allied with the Arkansas Insurance Department Funeral Services Division. How to Choose the Right Burial Insurance Policy in Arkansas The right choice of burial insurance, its coverage amount, and the provider’s reputation, among several other factors, should all things to be calculated. Here are a few tips for selecting the policy that needs your attention: Calculate the estimated cost of funeral arrangements that you would want. This includes services, gravesites, coffins, and more specific wants. Arkansas Insurance Regulation: There should be a check whether the policy complies with the insurance regulations prevailing in Arkansas, as such laws control unfair trade practices. Compare Providers: Get several quotes from providers. Seek reputable companies such as Lincoln Heritage, which retains a substantial market share within the final expense market. Consider Age and Health: Some policies offer lower rates if you are younger or in good health. Burial insurance, however, usually has a guaranteed acceptance feature, so regardless of your age or health condition, you can qualify for coverage in Arkansas. Why Do Arkansas Residents Need Burial Insurance? The funeral costs in Arkansas may easily reach from $7,000 to $10,000. That is a huge expense one’s loved ones may not be ready for. When one does not have adequate coverage, it is left to their loved ones to pay for the funeral services, the grave lot, the headstone, and all the other expenses associated with funerals when they are still grieving. In Arkansas, particularly, it is through this type of insurance that money will be able to lift the burden of these costs and ensure families are spared hassling with death on their economic terms. Why burial insurance is important for Arkansas Residents, especially with consideration of Arkansas Insurance laws and the availability of inexpensive plans such as Lincoln Heritage. Immediate Financial Assistance for Funeral Costs The ability to quickly cover funeral costs is one of the biggest benefits of obtaining burial insurance. When a person dies, a family usually gets instant financial demands to cover the cost of the funeral service, burial plot, and other final expenses. This type of insurance gives comfort in that all of these bills can be covered as soon as possible, saving the family from huge sums to be generated within a short period. Funeral Expenses: Funeral parlors charge very high sums for services such as body preparation, transportation, and ceremony preparations. Burial Plot: A burial plot costs dearly in Arkansas, where the cost is usually location-dependent. With burial insurance, this fee doesn’t burden the family anymore. The cost of the headstone or memorial plaque sometimes adds to the overall funeral cost, but the burial insurance covers this. Providers like Lincoln Heritage offer affordable burial insurance options that
Define Interment Funeral: Understanding the Funeral Process
Define Interment Funeral : Understanding the Funeral Process Last Updated on: August 26th, 2024 Reviewed by Kyle Wilson Licensed Agent @ Burial Senior Insurance Get A Free Quote Have you ever wondered about the different ways we honor our loved ones after they pass away? Among the various funeral practices, define interment funeral as a timeless tradition that holds deep cultural and emotional significance. But what exactly is an interment funeral, and why does it play such an important role in the way we say our final goodbyes? Understanding this practice can provide insight into how we celebrate and memorialize life, even in the face of loss. Get Free Quotes Customized Options Await Quotes Now How to define interment funerals? What is interment? Put simply, it’s when we place someone who’s died in their final resting place. Define interment funeral in a way that it is a process of burying a deceased person’s body in the ground, usually within a cemetery. This could be a traditional burial or a natural burial, where a coffin is lowered into the ground. But nowadays, when people talk about interment, they’re often talking about the interment of ashes. There are lots of ways that ashes can be interred. We’ll look at some of your options below. It’s good to know that the meaning of interment is different from “internment”. It’s easy to mix the two up because they sound the same and have very similar spellings. Internment (with an “n” in the middle) is when somebody is placed in prison, usually within the military. Where can an interment funeral ashes take place? The procedure for the interment funeral ashes starts with finding a permanent location. Possible locations include: A Local Authority cemetery A burial ground or churchyard A green or natural burial ground (they tend not to allow headstones) Interment funeral Options for the Cremated Body – Lawn Crypt Essentially, a lawn crypt is a type of underground mausoleum. It’s built deeper into the ground and can house multiple caskets. Often made of concrete, a lawn crypt possesses a drainage system, which protects the grave’s contents from the elements. In some cases, families are all buried together, but it’s not a requirement. Make sure to ask a cemetery representative if they use individual grave markers or just one for everyone buried in the lawn crypt. – Traditional burial In traditional burial, the body is interred whole and may be preserved by employing embalming so that the deceased can be displayed before the funeral rites and burial rites. Before burial, the cemetery prepares the location by digging a hole at the grave and may then place a grave liner or burial vault in the hole. The casket is then placed in the grave by the cemetery grounds crew after the committal service and more soil is then added to the grave. Finally, a tombstone with an epitaph is placed at the site as a form of honoring the deceased – Mausoleum A mausoleum is an above-ground structure used when the remains are placed in a casket. They provide individual methods for remembering your loved one, such as name etchings, nameplates, and vases for flowers. A mausoleum commonly contains individual or companion niches and safeguards the body from the environment. It is made of community mausoleum and private mausoleum kinds. In most situations, a private mausoleum is far more costly. Mausoleums are ideal for people who wish to have their remains buried with their loved ones in their tomb. – Natural (or Green) Burial There is another form of full-body interment that is natural or green burial. Green and natural burials are an attempt to mimic the natural process of decomposition as closely as possible. The main differences are two-fold: The main differences are two-fold: 1) Green burial does not allow for any type of embalming, while the cemetery ground is approved merely for green burial. 2) Green burials can only happen on very specific areas of land while a natural burial can happen on any piece of private property or any cemetery that permits it. Other Interment funeral Options A few lesser-used interment options are: Burial of ashes in a biodegradable urn by planting it with seeds so that a tree will grow on the site After cremation, the ashes are combined with cement to form a reef to assist the oceans to recover. They include, for instance, the launching of the cremated body into space. Being involved in burial at sea service is an option that is possible with both the full body and cremated body. For other options, refer to Meaningful Ways to Honor Your Loved One’s Ashes – Burial Vault or Mausoleum A burial vault is a structure built within the grave that holds one or many remains. An example of this would be a mausoleum. A mausoleum is essentially a large tomb. It is a monument, often made from stone, designed to house the remains of one or several individuals above ground. Like burials, mausoleums commonly contain personal mementos to markers related to the deceased. There are many types of mausoleums. Common ones include: Public/common Mausoleums. This is a structure that holds multiple individuals inside of the same place. Anyone is allowed to visit and pay their respects. Private Mausoleums. This is a type of mausoleum restricted for family use. These can be found on private property or purchased at a cemetery. Garden Mausoleum. This type of mausoleum is found outdoors and often decorated with flowers, plants, statues, and more. Sarcophagus mausoleums. This type of mausoleum is partially underground and has no door or windows within the structure. Vestibule Mausoleums. This is a small structure that looks similar to a house. There is typically a door entrance that leads into an inner burial vault. These are also often private or family-owned. – Columbarium Entering the final arrangements of the cremated body, the most common choice is a columbarium. Columbaria are made of a large number of small spaces also referred to
Life Insurance for Police Officers: Protecting Those Who Serve
Life Insurance for Police Officers: Protecting Those Who Serve Last Updated on: November 10th, 2024 Reviewed by Kyle Wilson Licensed Agent @ Burial Senior Insurance Get A Free Quote What kind of life insurance can police officers get? How much is it? There are many questions law enforcement officers have when looking at life insurance. This article will show you everything you need to know about life insurance for police officers. You can also get sample rates by filling out our quote. Get Free Quotes Customized Options Await Quotes Now Can Police Officers Obtain Life Insurance Coverage? The question of whether police officers can obtain life insurance coverage is a common one. Police officers can apply for the best life insurance plans and may qualify for preferred rates if they maintain good health. The life insurance industry expresses gratitude towards police officers by maintaining their premiums at standard levels. This is despite police officers’ occupation being more difficult than average. It is not difficult at all to purchase law enforcement life insurance along with several other types of first responders such as firefighters and members of the armed forces. Law enforcement officers know that when they put on their uniform to begin a day’s work, anything is liable to happen but they still go out and protect the public. The life insurance industry realizes this and does not penalize them in any way for securing the best life insurance rates. Securing the best life insurance for police officers is simple and can be applied for and approved within 24-48 hours. Why Do Police Officers Need Life Insurance? I don’t believe a life insurance policy is more important to a police officer than anyone else because everyone with dependents should have life insurance. Here is why they need life insurance for Police Officers: – Income Protection The police profession has always been considered as one fraught with risks. What would happen to their families in the event one of them died suddenly, say, an officer? Law enforcement life insurance is an investment that guarantees that the quality of life of their loved ones will be kept high in the absence of the insured person. Groceries Utility bills Education costs Without life insurance, the sudden loss of income can leave families in a dire financial situation. Life insurance helps prevent this by replacing lost income. – Debt Protection Like most people, police officers often have significant debts. This can include: Mortgages Car loans Credit card debt If an officer were to pass away, these debts wouldn’t disappear. They could become a burden on the family left behind. – Employer-Sponsored Coverage Many police departments offer life insurance as part of their benefits package. But is this coverage enough? Often, it’s limited and might not cover all the needs of an officer’s family. Here’s why police life insurance is important: Higher Coverage Amounts: Employer-provided policies often have low limits. Portability: If an officer changes jobs, they might lose their employer-sponsored coverage. Customization: Individual policies can be tailored to specific needs and circumstances. In short, therefore, depending on employer-sponsored life insurance may not guarantee full coverage. Additional policies can offer further coverage. Life insurance for Police Officers is not only about providing financial security. It’s about giving people the calmness of mind knowing that their loved ones shall be well provided for at all times. Regarding life insurance, police officers should consider sources of income and debt coverage, as well as improvement of employer-sponsored insurance. Therefore, if you or a family member is involved in the police force, you should consider the advantages of a solid life insurance plan. It is a simple change that can bring about significant improvement. Is It Considered a Risk? As mentioned earlier, obtaining additional life insurance for law enforcement officers is not considered a risk whatsoever. Most of the police officers may fear that because their job is risky, the life insurance companies may charge them extra for coverage. Life insurance companies, however, are surprisingly lenient when it comes to police officers. And since you are not denied to buy life insurance on top of the work insurance you already have, you can choose to explore the market to find the best rates. One good thing about life insurance for police officers is that the process of acquiring the same is as simple as that of a normal citizen. Also, options and procedures remain the same. Why is Life Insurance for Police Officers Important? As a law enforcement officer, your life is always at greater risk while protecting the citizens. Remember that a police officer always follows instructions from their commander. As such, they can put themselves in risky situations while executing their daily duties. Even if you are a police officer, you still have a family to protect. So, you need to be concerned about your family’s financial security in case you pass on while executing your duty. Being a police officer does not mean you can only die by the gun. There are many ways a police officer can put his life in danger. Some of the dangers of police officers may include: Traffic Accidents- Traffic police officers spend most of their time on the highways. While patrolling, they can be knocked by careless drivers who are trying to escape the long arm of the law. Careless Shootings- Police officers have been authorized to carry and use firearms. While on duty, they can shoot one another due to a disagreement, or through careless mishandling of firearms. Acting as First Responders- Police officers are usually placed in risky situations like crime scenes or daylight robberies. Any law-breaker around the scene would want to fire at any police officer on sight first to escape. What is the best life insurance for police officers? Just like other civilians, police officers have access to all types of life insurance policies. As stated earlier, law enforcement officers are not discriminated against when it comes to the acquisition of life insurance. Right
Burial insurance for Disabled Persons: Secure Your Future
Burial insurance for Disabled Persons: Secure Your Future Last Updated on: November 10th , 2024 Reviewed by Kyle Wilson Licensed Agent @ Burial Senior Insurance Death is hard enough by itself. But with a disabled person who you love, it is twice as heartbreaking. On top of that, thinking about funeral costs adds pressure that makes it even more daunting. This is where burial insurance for disabled persons comes in very handy. It is also possible to use this kind of insurance to cover funeral expenses. At times, this can come as a pretty crushing blow when you need to start finding a way to pay for everything else. Let’s dig a little deeper and learn how it works. We will also discuss what you need to know. Get Free Quotes Customized Options Await Quotes Now Get A Free Quote What is a Disability? A disability is a condition that affects an individual’s capacity to perform everyday functions or activities. The different types of disabilities include: Physical (such as impaired mobility, inability to walk) Mental illness such as anxiety, depression The degree and type of disability will also lead to various impacts on everybody differently. Types of Disabilities Understanding the types of disabilities can help you choose the right Burial Insurance for Disabled Persons. Here are some common conditions and their implications for insurance. – Arthritis This condition often involves ongoing pain and stiffness. It can limit your ability to move freely and perform daily tasks. Insurance Impact: Simplified issue policies might be a good fit. These policies avoid detailed health exams, making them easier to qualify for. – Back Pain Affects many people at different stages of life. It can range from mild discomfort to severe, debilitating pain. Insurance Considerations: Look for policies that don’t require extensive medical histories. This is especially important if back pain leads to limited physical activity or frequent medical visits. – Cancer A significant health challenge with varying treatments and outcomes. This can be very high, impacting financial stability and future planning. Policy Choice: Guaranteed issue policies might be necessary if the diagnosis is recent. These policies accept applicants regardless of health status but come with higher premiums and lower coverage amounts. – Heart Disease Includes conditions like heart attacks, chronic heart failure, and other cardiovascular issues. It requires regular medical attention, medication, and sometimes surgeries. Insurance Options: Consider policies with lenient health requirements. Simplified issue policies can balance coverage and affordability without needing a medical exam. – Depression Can deeply affect daily life, productivity, and overall well-being. Some insurers might ask detailed questions about mental health history, which can complicate the application process. Suitable Policies: Simplified issue life insurance can be an excellent choice to avoid intrusive questions. These policies often provide quicker approvals and fewer barriers. – Diabetes These types of patients require continuous management of blood sugar levels through diet, medication, and lifestyle changes. This can lead to other health issues, like neuropathy, kidney disease, or cardiovascular problems. Insurance Fit: Policies that don’t require medical exams can be beneficial, especially if the condition is well-managed. Look for insurers who specialize in covering individuals with chronic conditions. Burial Insurance for Disabled People However, some disability conditions may not qualify a person for old-fashioned life insurance. Disabled individuals can still acquire burial insurance as the insurance is particularly designed to pay final costs such as funeral costs. The insurance gives one peace because the family cannot be pushed to break under financial stress upon death. – Advantages of Burial Insurance for Disabled Individuals Easier accessibility: Most burial insurance policies do not require a medical examination and can therefore be offered to disabled people as well. Guaranteed issue policies: Policies that do not ask health questions are more accessible to people who have various health conditions. More affordable coverage: Burial insurance offers smaller coverage amounts that are usually affordable for the payment of funerals as opposed to the bigger life insurance policies. Savings peace: It ensures there are savings to finance funerals, thus saving families the burden of paying. – How to Get Disability Burial Insurance Work with specialized insurers: These are insurers who know what the disabled person requires and will offer policies that cater to their needs. Compare policies: Consider the variety of options you would have and pay attention to the exclusions or limitations upon people with specific disabilities. Seek professional advice: Consult an insurance agent who has experience in dealing with clients who are disabled. Simplified Issue Life Insurance: Quick and Easy to Get – What it Is: With simplified issue life insurance, you answer several health-related questions but don’t have to take a medical exam. With simplified issues, if you qualify, you get coverage pretty quickly. – Why It Could Work for You: This policy is a sort of middle ground between term life and guaranteed issue life insurance. Its qualifying process is easier for those with disabilities, and you’ll get coverage faster than traditional life insurance. However, the premiums would be higher compared to a policy that does not question. – Pros: No medical exam Faster approval process – Cons: Still requires answering health questions Higher premiums Burial Insurance: Cover Your Funeral Costs Without Hassle It is sometimes known as burial insurance, but final expense insurance is actually intended to pay out for the costs of your funeral and other final expenses. It is generally a small whole life policy in most cases – Pros: Simple and affordable No medical exam required Covers funeral and burial costs – Cons: Low coverage amounts (typically between $5,000 and $25,000) Only for final expenses How Medicaid Burial Funds Can Help with Funeral Costs Medicaid allows you to reserve funds for funeral and burial expenses, which will not be considered in your Medicaid application. These reserved funds are known as “burial funds.” – Pros: Exempt from Medicaid’s asset limits Allows you to save for funeral costs – Cons: Limited to funeral expenses Rules vary by state Does Medicare Cover Burial Expenses?
12 Life Insurance Myths: Uncovering the Facts behind them
12 Life Insurance Myths: Uncovering the Facts behind them Last Updated on: September 6th, 2024 Reviewed by Kyle Wilson Licensed Agent @ Burial Senior Insurance Get A Free Quote Have you ever heard that life insurance is too expensive or only necessary for older people? Life insurance can be tricky to figure out with its complex rules and choices among competing opportunities. With the wrong information, you could end up with the wrong policy which wastes your money and doesn’t properly protect your loved ones. This article will briefly examine the top 12 misconceptions surrounding life insurance to help make your road to coverage a little smoother. Get Free Quotes Customized Options Await Quotes Now 12 Life Insurance Myths Here are 12 Life Insurance Myths and misconceptions we should avoid: – If you have a health condition, you’re not eligible Many people believe that if they have a pre-existing condition, they can’t get life insurance. Insurers generally use your health to calculate rates and coverage amounts, but it doesn’t mean you’re ineligible if you have a health condition. If you’re concerned about your health being an issue, “simplified issue” or “guaranteed issue” life insurance is also available, often through employer-provided coverage. The applications used for this type of policy typically contain a shorter list of questions, which may be the same for each applicant, and decisions are made based on very limited criteria. – My Term Life Insurance Coverage at Work Is Sufficient For a single person of modest means, employer-provided term coverage may actually be enough. However, if you have dependents like spouse, children, or other relatives, or if you think that more money may be required for paying estate taxes after your death, then more coverage is required. The reasons for recommending employer-paid or employer-provided term insurance are that it offers simple guaranteed coverage that is affordable. However, it will only be available while you are still with your employer and it does not offer you lifetime coverage. It may also be beneficial if you have a separate policy in other areas of your life to ensure that your protection is not taken away from you as soon as you stop working. – The Cost of My Premiums Will Be Deductible This is not true in most cases. The cost of personal life insurance is never deductible unless the policyholder is self-employed and the coverage protects the business owner’s assets. In this scenario, premiums are deductible. – Young and healthy people do not need life insurance Life is unpredictable in this sense that one cannot know what will happen next. When it comes to the probabilities of an accident, a young and healthy person may be cut down in the very prime of his youth. During one’s early working experience, one cannot save adequately enough to build a good corpus throughout one’s life history. But life insurance guarantees that your family does not experience this problem of the lack of funds. Also, young people get to pay a lower amount of premium than they are likely to when they are older. It’s more advisable to purchase life insurance in your formative years when you are just beginning to earn an income. This way, you can target a wider audience and you will get good coverage at a cheaper cost. – I Must Have Life Insurance to Cover Final Expenses For many people, this is often true. However, those with sizable assets may be better off self-insuring. When you self-insure, you use your own savings to cover your medical and funeral costs while providing for your loved ones. You save money by self-insuring as you aren’t paying for the cost of setting up a policy.6 However, you might still decide to buy a policy to create a larger inheritance or as a backup in case you spend down your savings more quickly than expected. – I Should Always Buy Term and Invest the Difference This is not necessarily true. Term life starts out less expensive than permanent life insurance, which gives you more money to invest. However, terms get more expensive over time and can become prohibitively high in later years. Permanent policies like whole life do not increase your premium as you get older. The total premium outlay for a permanent policy may actually end up less than what you’d spend on term coverage that keeps getting more expensive over time. Term coverage eventually ends as insurers set a maximum age limit for renewals. Those who know for certain they must be covered at death should consider some amount of permanent coverage. – Only financially well-off people can afford life insurance Insurance policies today offer extensive coverage at reasonable prices. You can research online for customized plans that suit every budget. You can start with a lower sum assured and then build up additional coverage as your income increases. You can also opt for a term life plan. – Variable Universal Life Policies Are Always Superior to Straight Universal Life Policies Over the Long Run In theory, the long-run investment return of a variable universal life policy (VUL) should outearn a straight universal life policy but that’s not guaranteed. Your cash value growth in a VUL depends on the performance of your investments. Poor market performance may result in a a lower cash value than someone with a straight universal life policy. If you prefer to keep it safe, universal life policies with no risk of losses could be the better option. – Only Breadwinners Need Life Insurance Coverage Nonsense. The cost of replacing the services formerly provided by a deceased stay-at-home can be higher than you think, so insuring against the loss of a partner who does not work outside the home may make sense. Stay-at-home spouses provide daycare, transportation, cleaning, meal preparation, and many other quality services that can be difficult and expensive to procure outside the family. – My family won’t need much money when I die. This won’t be true, unless you’ve made
Social Security Burial Benefits: Support for Funeral Costs
Social Security Burial Benefits: Support for Funeral Costs Last Updated on: September 12th, 2024 Reviewed by Kyle Wilson Licensed Agent @ Burial Senior Insurance Get A Free Quote When planning for the future, it’s important to consider all aspects of end-of-life arrangements, including Social Security burial benefits. The Social Security Administration pays a one-time, Special Benefit payment to help with burial expenses after the death of a Social Security beneficiary. This is known as the Social Security burial benefit or death benefit. To qualify for this payment, there are some basic conditions that you have to fulfill. For instance, one must have contributed to Social Security or be a dependent of the contributor, be it as a spouse or a child. Let’s discuss more about it. Get Free Quotes Customized Options Await Quotes Now What Are Social Security Death Benefits? Social Security Death Benefits are provided to the surviving spouses, children, and other dependents of a deceased eligible employee. This benefit, designed to ease the financial strain the loss of one’s spouse or parent puts on the family, is especially useful for families with young children. The monthly benefit amount depends on the earnings of the deceased person. In other words, if they contributed to Social Security more, their benefits would also be more. This amount is a percentage of the deceased’s basic social security benefit or his average earnings over a period. Also, depending on the situation of the death, the benefit of a one-time lump-sum death payment of $255 may be paid to the surviving spouse if he or she was living with the deceased person; or if living apart, was receiving certain kinds of Social Security benefits on the deceased’s record. When there is no surviving spouse, the payment is made to a child who qualifies for the benefits. Who is Eligible to Receive Social Security Death Benefits? Any woman or man with no spouse and above the age of 60 years A surviving divorced spouse, under certain conditions Any widow or widower at any age who is looking after the deceased’s child under 16 years of age or is disabled and receives child benefits. An unmarried child of the deceased who is one of the following Under the age of eighteen (up to nineteen if he or she attends elementary or secondary school as a full-time student). People above 18 years of age with a disability that affected them before they reached 22 years of age. Does Medicare or Social Security Pay for Funeral Expenses? The short answer to this question is no; they don’t. Medicare covers medical care, which ends when you die. Medicare doesn’t have a death benefit either, but Social Security does offer burial benefits. The Social Security Administration will give a one-time $255 payment to a surviving spouse or child, called a special lump-sum death payment. You do have to meet certain requirements: The spouse must have been living with the deceased or receiving certain social security benefits on the deceased’s record. If there’s no surviving spouse, the payment goes to a child eligible for benefits on the deceased’s record in the month of death. After seeing how much a funeral can cost, you realize that $255 from Social Security is a nice gesture, but it will only cover a few floral arrangements. Who can claim benefits from my record? Burial benefits are divided into two categories: those that kick in before a worker’s death and those that go to the worker’s survivors. The second kind of benefits are often called survivor or Social Security burial benefits. Here are the rules: While you’re alive, your spouse and any ex-spouse(s) become eligible to claim spousal benefits from your record, beginning when they turn 62. For your husband or wife to claim Social Security spousal benefits (equal to 50% of your benefit) you must have already claimed your primary benefits. Divorced spouses, though, can begin claiming benefits on their ex’s record whether or not the ex has filed for retirement benefits. Minor children and disabled children of any age who became disabled before age 22 are also eligible to receive benefits if their retired parent has started claiming primary benefits. After a worker eligible for primary Social Security benefits dies, a few classes of protected individuals are entitled to claim Social Security Burial Benefits (equal to 100% of the deceased’s benefits). The folks with this kind of Social Security eligibility include: Surviving spouses (a.k.a. widows and widowers) married for at least 10 years, who can start collecting reduced benefits when they turn 60 and full survivor benefits at full retirement age Surviving divorced spouses married for at least 10 years, who can collect reduced benefits from age 62 and full benefits at their full retirement age, provided they don’t remarry. Dependent parents, if the worker’s financial support made up at least half of their support Minor children up to age 18, or up to age 19 if still in secondary school Adult children if disabled before age 22 The mother or father of the deceased’s children (including an ex-spouse), who is caring for the deceased’s minor children, can claim Social Security death benefits until the children reach age 16. Can my surviving spouse claim my Social Security burial benefits and their primary benefits? These benefits were designed to protect the non-working spouses and children of workers, not to provide extra money to surviving spouses whose work histories make them eligible for benefits on their record. A surviving spouse whose age and labor force participation make them eligible for primary Social Security benefits should not expect to receive full Social Security death benefits on top of their check. The Social Security Administration wants to guard against what it considers “excess benefits,” so will adjust the benefits of anyone who is eligible for both spousal/death benefits AND primary benefits. Social Security will pay out the larger of either the spousal/survivor benefits or the primary benefits, but not both. This is known as the Dual Entitlement
Burial Insurance for Cancer Patients: Best Guiding 2025
Burial Insurance for Cancer Patients: Best Guiding 2025 Last Updated on: November 7th, 2024 Reviewed by Kyle Wilson Licensed Agent @ Burial Senior Insurance Get A Free Quote The process of getting burial insurance for a cancer patient becomes complicated if the patient already has other health conditions. However, this kind of insurance can be very effective. For cancer patients, life insurance and burial insurance can help cover some essential funeral and burial costs; thus, lessening the burden on their loved ones during trying times. The following guide explains how such burial insurance for cancer patients can help families become more financially secure during challenging moments. Get Free Quotes Customized Options Await Quotes Now Understanding Burial Insurance Burial insurance for cancer patients, more popularly called “final expense insurance,” is life insurance coverage tailored to pay costs at the end. While traditional life insurance pays a lump sum, burial insurance pays less, but this amount has been calculated to pay all funeral, burial, and cremation expenses of dead bodies. It helps ease the pressure on families of cancer patients to cover these expenses, so they will not worry about anything else but grieve and heal at the time. Difference Between Burial Insurance and Traditional Life Insurance Burial insurance and traditional life insurance are both designed to help financially after someone’s death, but they serve different purposes and have distinct features. Below, we’ll explore the key differences between these two types of insurance. – What is Burial Insurance? Burial insurance, also known as final expense insurance, is a type of insurance policy meant to cover funeral and burial costs. It is typically a smaller policy than traditional life insurance, providing just enough coverage to pay for end-of-life expenses, including: Funeral service costs Burial or cremation Other final expenses (e.g., medical bills or debts) Burial insurance is ideal for those who want to ensure their family isn’t burdened with funeral expenses. It is especially beneficial for older adults, who may want a simple, no-fuss policy with a smaller death benefit. – What is Traditional Life Insurance? A traditional policy, sometimes referred to as life insurance, is the bigger policy aimed at securing your family financially after death. Money from a life insurance policy can be used to cover several expenses, such as: Mortgage payments Daily living costs Educational expenses Unpaid debts Life insurance is mainly taken in much bigger coverage amounts, which can range from thousands to millions of dollars based on the type of policy. They are meant to replace lost income and keep the family financially stable when you are gone. Key Differences Between Burial Insurance and Life Insurance 1- Amount Covered: Burial Insurance: Typically, this provides a minimal coverage amount; ranging from $5,000 to $25,000. Life Insurance: Often it grants coverage for almost a much higher amount; starting from $50,000 to a few million. 2- Purpose: Burial Insurance: covers expenses of funeral and burial, Life Insurance replaces lost income to meet the family needs, such as paying debt and living costs. 3- Application Procedure: Burial Insurance: It is generally less complex and quicker to apply, with fewer medical requirements. Some policies do not require a medical exam at all. Life Insurance: The application process typically involves substantially greater details about a policy owner’s health status and level of coverage involving medical exams to determine such. 4- Eligibility and Accessibility: Burial insurance: Much easier to qualify for, especially for the elderly or those with a medical condition. Life Insurance: This may be more difficult to qualify for, especially if one of you has serious health problems. Why Cancer Patients Need Burial Insurance Treatments, medical care, and medications for patients diagnosed with cancer can add up very quickly, making it challenging for patients and their families to save for the final costs of life. Burial insurance for cancer patients is a special kind of insurance designed to cover funeral or cremation expenses. The presence of burial insurance takes away from the cancer patients and their families the financial stress of preparing for these funeral expenses so that they can all spend quality time together rather than worry about the financial burdens of final arrangements. How Burial Insurance Works for Cancer Patients – Eligibility Criteria Easier to Get: Burial insurance is easier to get even for people who have cancer, compared to regular life insurance. Burial insurance for cancer patients involves lenient rules in such a way that even those with health issues can still apply. Most of the policies for burial insurance for cancer patients are made easy and accessible even to those with serious ailments so that they can always cover themselves in case of any eventuality. Health Analysis: When a cancer patient applies for burial insurance, the company analyses his/her health and the stage of the cancer. Early Cancer: People who have a stage of cancer that may not be severe can seek more options in burial insurance. It might be less accessible, and occasionally a bit pricier to have burial insurance for cancer patients. Nevertheless, burial insurance for cancer patients is a crucial alternative option that strives to offer relief to the family during trying times. Different Rules: Since people have different health backgrounds, eligibility, and options do vary from one person to another. Support for Families: Many insurance companies provide the opportunity for cancer patients to acquire burial insurance so their families will not have funeral costs that are too unbearable to pay. – Policy Terms and Types of Coverage Policy Terms: While getting burial insurance, there exist certain rules that are labeled policy terms. Waiting Period: This is the common rule that implies waiting should take place before utilizing full funds. Waiting Period Example: If one gets insured with burial insurance today then they may have to take several months or a full year to utilize the acquired sum. The waiting period is to prevent the insurance company from paying too soon, especially when the risk is higher. Waiting periods include high-risk groups of people
Gerber Guaranteed Life Insurance: Customer Reviews and Rating
Gerber Guaranteed Life Insurance : Customer Reviews and Rating Last Updated on: October 11th, 2024 Reviewed by Kyle Wilson Licensed Agent @ Burial Senior Insurance Get A Free Quote Gerber Life Insurance stands out as a reliable, well-established life insurer offering a diverse range of plans to suit different needs. It’s one of our top picks for the best term life insurance companies as well as the best whole life insurers. In this review, we take an in-depth look at the Gerber Life Insurance Company, exploring gerber guaranteed life insurance, pros and cons, plans, pricing, and customer satisfaction ratings. Read on for more. Get Free Quotes Customized Options Await Quotes Now Who Should Get Gerber Life Insurance? With life insurance policies available for all ages, Gerber Life could be a good option for those seeking whole life coverage for a child or teen, or term or whole life for an adult or senior, as well as those looking for guaranteed-coverage or no-exam life insurance. Gerber Life Company History For more than 50 years, Gerber Life has been providing budget-friendly life insurance so that children and adults can have greater financial protection. Founded in 1967 by the Gerber Products Company, we share a common heritage and values in caring for the millions of families who place their trust in us. Today, Gerber Life is a member of Western & Southern Financial Group Inc., one of the strongest life insurance groups in the world. With $65 billion of life insurance in force as of December 2023, you can count on Gerber Life to provide insurance plans for the entire family that offer the reliability, flexibility, and peace of mind you deserve. Gerber Guaranteed Life Insurance Company Policy Overview Face Amounts Range: $5,000 up to $25,000 Insurable Ages: 50 – 80 State Unavailability: Not for sale in MT Graded Period: 24 months Riders: None Premium Percentage Returned: 10% of earned premium Application Process: Using an independent agency or directly through the carrier Guaranteed Life policies are $25,000. Gerber Life Insurance Company will not issue insurance for any proposed insured when a POA or Guardianship exists on the proposed insured. What Riders Does Gerber Life Insurance Offer? Riders are additional coverage options you can select to customize your insurance policy. Here are two riders Gerber offers. Keep in mind that others may be available and availability varies depending on your location and the policy. They gerber guaranteed life insurance Option Rider. This rider allows your child to purchase additional coverage as an adult at standard premiums relative to their age. Gerber doesn’t require a medical exam to get this extra coverage. It’s automatically included in the Gerber Life Grow-Up Plan at no additional cost. Waiver of Premium Rider. This rider is available at an additional cost for Gerber Whole Life policyholders. If you become disabled, Gerber will waive your premiums while your coverage remains active. You must meet age requirements to qualify. Pros of gerber guaranteed life insurance There are many advantages to choosing gerber guaranteed life insurance. Below we will list each pro and explain why it might benefit you. – Guaranteed Issue Policy If you’re 50+ years old, your life insurance acceptance is guaranteed regardless of your health history. There are no medical exams to complete or lengthy health questionnaires to fill out. To be eligible for coverage you must be a U.S. citizen between 50 and 80 years old (New York residents, maximum age of 75) residing in the US or permanent legal resident. The total limit of all combined Gerber Life Guaranteed Life policies is $25,000. Gerber Life Insurance Company will not issue insurance for any proposed insured when a POA or Guardianship exists on the proposed insured, except legal guardians of children. – Gerber Life is a Reputable & Financially Stable Company When it comes to the plan itself, the Gerber Life Insurance Company’s Guaranteed Life Plan is a fairly typical policy in terms of features and benefits. What sets it apart is that it’s backed by an excellent life insurance carrier with a strong balance sheet and a reputable brand name. This is a company that you can put your faith into and trust that your beneficiary will receive the necessary funds that can be used for your final expenses. – Graded Death Benefit Guaranteed Life is individual whole life insurance with modified benefits. For applicants aged 50-80 (50-75 in New York) who die (for any reason other than an accident as defined in the policy) within the first two years of coverage, the death benefit will equal 110% of earned premiums. The full death benefit amount is only payable for other causes after the first two years of coverage (one year in North Dakota). – Product Availability Gerber Life Insurance Company’s Guaranteed Life is available for people between the ages of 50 and 80 in quantities that range from $5,000 up to $25,000. With Gerber Life, you can take out multiple policies, but the cumulative total cannot surpass $25,000. To compare guaranteed acceptance life insurance rates for your exact age and requested policy amount, use the complimentary quoting tool on the side of this page. – Competitive Premiums & Payment Options When selecting a guaranteed acceptance policy, the cost will always be one of the key determining factors. Generally speaking, there isn’t a huge variety of policy features across carriers, which is why it always comes down to price. We also understand that most people qualified for a no-questions policy are on a fixed income and unable to pay exorbitant monthly premiums. Gerber Life Insurance Company is known for its competitive pricing, although they are a little more expensive than other guaranteed acceptance plans. These premiums, however, are fixed and will never increase on you. Be Aware: Unfortunately, there are some plans on the market where premiums increase every 5 years. This is not the case with Gerber Life. Payment of premiums is notably flexible with Gerber Life and there are discounts for certain methods. You
Affordable Cremation Insurance Plans: Relieve the Burden
Affordable Cremation Insurance Plans: Relieve the Burden Last Updated on: November 4th, 2024 Reviewed by Kyle Wilson Licensed Agent @ Burial Senior Insurance Get A Free Quote Have you ever thought about how your loved ones would handle costs after you’re gone? Funerals and cremation services may sound cheap, and yes, they are, but for many families, this can be a struggle. Cremation insurance is not very complicated, it just helps pay for expenses so your family is not burdened with it. But what is cremation insurance and how does it work? Let’s go through the various cremation insurance plans that are available and how they will help both you and your loved ones. Get Free Quotes Customized Options Await Quotes Now What is Cremation Insurance? Cremation insurance is life insurance with special points that will help the family after death to pay for cremation. These costs can include: Cremation services: The actual cremation process. Memorial services: Burial and funeral service planning. Urn and other cremation-related products: Selecting the urn, a piece of jewelry, or any other item that the survivor of the deceased will want. Transportation: Taking the dead body to the cremation grounds. Thus, with the purchase of a cremation insurance plan, one can be confident that these expenses are to be covered and thus, their families won’t be struggling with money when dealing with this pain. Cremation Insurance Plans Despite the fact that cremations are generally cheaper than burials, they are still expensive to organize. Cremation services cost, on average $3,000 depending on the number of services offered, if added to the price of the funeral or memorial service and an urn, columbarium niche, or burial plot cost it sums up to than $10,000. Cremation Related Expenses: Cremation Process Urn Burial Plot Memorial or Funeral Service Cremation insurance enables easy payment of expenses and ensures that your family members will not suffer financially when you are gone. With cremation insurance covering your end-of-life bills, you are financially protecting your nearest and dearest against your death expenses. Cremation is Cheaper Than a Burial Even with these optional costs, cremation services are markedly cheaper than a traditional burial because it does not require: Fancy Casket Large Tombstone Embalming Clothing for the deceased Hearse Limousine These are costs that are usually required during a traditional burial. Memorial services for people who are cremated don’t usually require a hearse or limousine, items that are favored by families planning a traditional burial. Cremation insurance plans 1- Simplified Issue Life Insurance Provides coverage for burial and funeral expenses without needing any medical examination but only the health questions. It offers fast processing of applications and is suitable for healthy persons who need basic policy. Coverage: This usually falls between $5, 000 and $ 25,000. Eligibility: Covers pre-existing conditions and the applicants are only required to fill out short health questionnaires, although there is no mandatory medical examination. Advantages: Quick approval process; affordable premiums. Best For Individuals in reasonably good health who want straightforward coverage for cremation and other final expenses. 2- Guaranteed Issue Life Insurance Ensures coverage without health questions or medical exams, making it accessible to people with pre-existing conditions. It often includes a waiting period before full benefits are active. Coverage: Usually range from $2000 to $25000. Eligibility: Provided with predetermined enrollment terms not involving any health questions or medical examinations but they are likely to come with waiting periods during which full benefits are not granted. Advantages: Affordable covering the health needs of all people including those with pre-existing conditions. Best For: People with certain illnesses that render them ineligible for standard health insurance plans. Popular Providers: It is essential to know that other companies such as Gerber Life and Fidelity Life have provided guaranteed issue options for high-risk clients. 3- Pre-Need Cremation Insurance (or Funeral Insurance) Purchased through funeral homes, this insurance lets people freeze the price of current cremation services and pre-set their preferences, thereby avoiding inflation. Coverage: Linked to specific funeral services and prices; typically arranged directly with a funeral home. Eligibility: Based on personal preference; often arranged well in advance of need. Advantages: Allows people to pre-plan and lock in current cremation service prices, minimizing inflation impact. Best For: Individuals who want to plan specific details of their cremation and lock in prices with a funeral service provider. Popular Providers: Many funeral homes offer pre-need plans, with options to make payments over time. 4- Modified Benefit Life Insurance This type has low benefits for those with moderate health risks whereby it provides restricted benefits first before switching to full benefits after a probation period. Coverage: There are differences in coverage, usually ranging from $5,000 to $20,000 of actual cash value. Eligibility: Health conditions may lead to modified terms, such as a graded death benefit (where the full benefit is only paid after a certain period). Advantages: Provides limited coverage initially, which then converts to full coverage after a set waiting period. Best For: Those with moderate health risks who need a more accessible policy option with partial coverage in the early years. Popular Providers: Companies like Transamerica offer modified benefit policies tailored for final expenses, including cremation costs. 5- Traditional Term Life Insurance Pays out a more significant amount that can cater to different funeral expenses. It may involve a medical examination and is perfect for young and healthy people. Coverage: Premiums higher than $10,000 and going up to $100,000 or more depending on age and health. Eligibility: According to the state of health and age, with a standard application, and, occasionally, a medical certificate. Advantages: Provides higher coverage amounts, which may also support other end-of-life expenses beyond cremation. Best For: Younger individuals in good health who want affordable coverage now but might need less later in life. Popular Providers: Companies like Globe Life and State Farm offer term policies that can cover cremation and other final expenses. Key Benefits of Cremation Insurance Plans – Financial Support for Loved Ones Try to picture your family,
Guaranteed vs Non Guaranteed Life Insurance: Key Differences
Guaranteed vs Non Guaranteed Life Insurance: Key Differences Last Updated on: October 18th, 2024 Reviewed by Kyle Wilson Licensed Agent @ Burial Senior Insurance Get A Free Quote If you are wondering about guaranteed vs non guaranteed life insurance, well, you have come to the right place! You’re reading this because you’ve been thinking about getting life insurance. You know it’s a good idea, but the options seem overwhelming. What should I get? How much do I need? Is there anything else I should be considering before making my decision? The truth is that buying life insurance is one of those decisions where everyone has an opinion – and most people don’t have your best interests in mind. This article will help you find the answers to all these questions and more! Get Free Quotes Customized Options Await Quotes Now What is Guaranteed Life Insurance? Guaranteed Life Insurance is a policy designed for those who value certainty and long-term peace of mind. But what makes it “guaranteed”? With this type of insurance, your premiums and death benefit are locked in for the life of the policy—no surprises, no changes, ever. Have you ever worried about market fluctuations affecting your coverage? With guaranteed life insurance, you don’t have to. Whether you live for 10 more years or 50, your loved ones will receive a fixed payout. The stability and predictability make it a popular choice for people who want a stress-free, dependable financial safety net. What is Non Guaranteed Life Insurance? Non Guaranteed Life Insurance is a type of policy where the benefits aren’t fully guaranteed. This means that certain aspects of the policy, such as the cash value or death benefit, can fluctuate based on various factors. These factors can include the performance of the insurance company’s investments, interest rates, or changes in mortality rates. As a result, the policyholder may end up with more or less than the initially projected benefits. One popular type of Non Guaranteed Life Insurance is Indexed Universal Life (IUL) insurance. IUL policies offer flexible premiums and the potential for cash value accumulation. They also provide a death benefit to protect your loved ones financially. However, it’s important to note that while IUL policies can offer significant benefits, they also come with risks. The cash value and death benefit aren’t “guaranteed” and can vary based on the performance of the stock index they’re tied to. Understanding these risks is crucial when considering an IUL or any other type of Non Guaranteed Life Insurance. How Guaranteed Life Insurance Works? Guaranteed Life Insurance is all about stability and peace of mind. With fixed premiums that never change, you can easily budget for your coverage. The best part? Your beneficiaries receive a guaranteed death benefit, ensuring their financial security no matter what happens in the market. Many policies also come with a cash value component that grows at a steady rate, providing you with accessible funds if needed. It’s the perfect choice for those who value reliability and want to know exactly what their loved ones will receive. How Non-Guaranteed Life Insurance Works? Non-Guaranteed Life Insurance offers a dynamic approach to life coverage. With premiums that can fluctuate based on market performance, you have the potential for higher returns. The death benefit isn’t set in stone; it can grow if investments do well, providing a larger payout for your beneficiaries. However, it can also decrease during downturns. Plus, the cash value is linked to investments, giving you more control but also exposing you to market risks. If you’re open to flexibility and the chance for growth, this option could be your path to financial empowerment. Pros and Cons of Guaranteed vs Non Guaranteed Life Insurance – Guaranteed Life Insurance Pros: Stability: With fixed premiums and a guaranteed death benefit, you know exactly what to expect. Isn’t it comforting to have that certainty? Peace of Mind: Your loved ones will receive a set payout, providing financial security no matter what happens in the market. Cash Value Growth: The cash value grows at a predictable rate, giving you access to funds if needed. Cons: Higher Premiums: You may pay more compared to non-guaranteed options. Is it worth the extra cost for peace of mind? Limited Growth Potential: While the cash value is stable, it may not grow as quickly as investments tied to the market. – Non-Guaranteed Life Insurance Pros: Flexibility: Premiums can vary, and you have control over your investment choices. Are you someone who enjoys having options? Potential for Higher Returns: If investments perform well, you could see significant growth in cash value and death benefits. How exciting is that? Cons: Uncertainty: Premiums and payouts can fluctuate, which may cause stress. Can you handle that unpredictability? Market Risk: The cash value is subject to market performance, meaning it could decrease during downturns. Are you prepared for that possibility? How to Decide What to Buy? Whether you should buy guaranteed vs non guaranteed life insurance coverage depends on many factors. Here are some factors to consider: Can You Pay Higher Premiums? Most people who bought universal life policies 10 to 20 years ago, when 5%-7% fixed interest rates were the norm, never envisioned the financial collapse in 2008 or the extended low interest rates that we are currently experiencing. Those policies are now only earning around 2%-3%, and the owners, often retirees, are faced with paying significantly higher premiums or losing the coverage. Why Are You Buying Life Insurance? Insurance is unique because it allows you to time liquidity to specific events and to transfer substantial risks that you cannot otherwise afford to pay out of pocket. If, like most people, you are buying life insurance for the leverage (small premium/large death benefit), you may prefer not having to worry about the policy staying in force. Should You Invest the Premium and Grow the Cash Value? Many insurers promote the ‘living benefits’ of permanent life insurance that include the tax-free growth of the cash value, the ability
