How is Burial Insurance is different from Life Insurance

In this video, how burial insurance is different from life insurance to help you better understand how life insurance works.

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When older adults are looking for whole life insurance/ permanent life insurance you should know what is available to you and how exactly that life insurance works for you.

This channel was created to provide viewers with content that will help them better understand life insurance. As a licensed Life Insurance Agent, I will go over the most important and essential facts and topics in these videos.

Hello everyone I'm Kelli Arrowsmith a
licensed life insurance agent and broker
and right now we're going to go over how
burial insurance for seniors is different than
traditional life insurance and stick with me till the end when I go
over the most important difference
between burial insurance and traditional
life insurance so first off burial insurance funeral insurance and
final expense Insurance are all the same
thing sometimes we hear different people
uh address this type of insurance by
different names but they are all the
same so burial insurance for seniors is a type of whole
life insurance and just like any other type of whole
life insurance policy it's meant to last
your whole life as the name implies
so burial insurance the policy can never expire or be
canceled as long as your premiums are
paid the coverage amount will never change it
can never decrease your premiums or the rate that you pay
every month will never change it can never increase
burial insurance with no waiting period, policies also build
cash value which after a certain period
of time you can borrow from
and the death benefit is paid tax free
so burial insurance is typically
purchased to help cover the cost of
funerals cremations a burial or any
final expenses that the insured may have
had whereas traditional life insurance
is typically purchased as a way to
provide income replacement
pay off a mortgage leave an endowment or
inheritance and those are just some of the main
things that people use in traditional
life insurance policy for so because burial insurance is typically
used to cover the costs of funerals it
comes in smaller coverage amounts
typically anywhere from 2000 to 50 000
in coverage and older adults ages 50 to 85
can purchase these policies although
there are some life insurance companies
that will cover someone as young as 40.
and burial insurance is very easy to
qualify for instead of taking a medical
or physical examination you simply
answer some yes or no questions about
your health and medical history in order
to qualify for coverage so there we have it guys let's recap
real quick burial insurance no waiting periods is a type of whole life
insurance where your coverage can never
be canceled and will never expire as
long as your premiums are paid
the coverage amount will always stay the
same your premiums that you pay every month
are always going to stay the same
the policy builds cash value which you
can borrow from and the death benefit is paid tax free
burial insurance policies offer coverage
ranging from amount of two thousand to
fifty thousand dollars in coverage to
individuals ages 50 to 85 although there
are companies that will write a policy
on someone as young as 40. and luckily
there's never any kind of medical or
physical examination to qualify for
burial insurance simply answer some health qualifying
questions to get your approval qualifying is easy and it's all done
right over the phone if you guys have any questions about
today's topic or any other life insurance related questions please let
me know down in the comments and if you
want to continue to get great information about life insurance please
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