People WANT to KNOW, How Does Burial Insurance Work???

In this video we'll go over How Does Burial Insurance work.
So you can better understand your life insurance options.

🚨🚨 Visit me directly at https://www.arrowfinalexpense.com/ 🚨🚨

Hello my fellow Insurables I'm Kelli
with Arrow Final Expense and in today's
video we're gonna go over how does
burial insurance work so burial
insurance is a type of life insurance
that can sometimes also be known as
funeral or final expense insurance and
these type of plans are popular among
older adults because of the affordable
monthly rate the smaller benefits
and of course because the policyholder
knows that their funeral arrangements
are going to be taken care of with this
type of policy now with traditional life
insurance such as term insurance those
type of policies are meant to replace
income with when a breadwinner dies or
another family member passes away and
this is very important when your family
is still young and you have you know a
mortgage to cover a car payment or even
a child's education to pay for however
as you get older your children leave
home your needs are going to change so
your life insurance needs are going to
change also and that puts more emphasis
on the need for your funeral costs to be
covered and any other end of life
expenses you may have left behind I can
tell you with what's happened in my own
family uh back in the early 80s when my
grandfather died my mom's father
um you know luckily he did leave a small
life insurance policy for my mom he knew
that he wasn't going to be around very
long and she was still pretty young you
know she was only in her late 20s and he
passed away she was responsible for
arranging the funeral paying for the
funeral and still had his home and other
obligations to take care of so
fortunately he did have that policy in
place and like she said she wasn't only
you know devastated but you're
overwhelmed with grief and you also have
this huge obligation of someone's
funeral arrangements and the rest of
their obligations that you have to take
care of when they pass away
so let's get into exactly how these
burial funeral insurance plans work
first and foremost they're really just a
whole life insurance policy that pays
out a lower death benefit than a
traditional life insurance policy and
they're easier to qualify for because
there's never any kind of a medical exam
when you are applying for coverage and
that's why they're also known as a
simplified issue policy so these
policies are available to older adults
ages 50 to 85 I will say however there
are certain insurance companies that
will write a policy on somebody as young
as 40. typically coverage is going to
range from two thousand dollars up to
fifty thousand dollars now a burial
policy can be your Standalone policy or
just as many other seniors have done you
can purchase it to supplement your life
insurance and just to pay for those
funeral expenses that you will leave
behind now here's another reason that
these are very popular so just like any
other whole life policy your premiums
are always going to stay the same they
will never increase the death benefit that it's going to pay
out is never going to decrease it does
build cash value over a period of time
and the benefit will be paid to your
beneficiary tax-free so obviously as
I've stated these policies can certainly
pay for funerals cremations whatever
plan you have for after you leave this
world but that money can also be used to
help your loved ones settle your medical
bills any credit card debt or any
mortgage or rent payment that you may
have left behind but your beneficiary is
ultimately going to decide how exactly
to use that benefit now something else
to keep in mind just like any other life
insurance policy your loved one can take
that life insurance policy directly to a
funeral home or a Crematory after you've
passed away and the funeral director can
contact the life insurance company on
your behalf that way the funds will get
paid out right away so that that funeral
or cremation can be paid for so
because there are no medical exams
involved with burial or funeral
Insurance you will be asked medical
questions about your medical history
your prescription history and also of
course if you smoke or not and they're
going to use your social security number
and other forms of identification to
check what's known as your MIB record
which stands for your medical information Bureau record that way they
can confirm that you are as healthy as
you say you are because these type of
policies were designed specifically for
older adults the underwriting is more
lenient and accepting of those who are
not in perfect health making it easier
to qualify than when applying for
traditional life insurance coverage well
there we have it you guys that wraps it
up that if you have questions about
today's video about burial insurance or
other life insurance questions just let
me know down in the comments.