Can I Buy Burial Insurance for My Husband? How to Get Affordable Coverage Today!
If you've ever found yourself typing "Can I buy burial insurance for my husband?" into a search engine, you're not alone.
Many individuals, especially those aged between 50 and 75, are navigating the complexities of end-of-life planning.
Women are often at the forefront of these concerns, particularly when it comes to financial decisions affecting family welfare. Let's delve into whether you can buy burial insurance for your husband, and the steps involved.
Guide to Buying Burial Insurance on Your Husband
Quick Review
Yes, you can buy burial insurance for your husband.
Burial insurance, also known as final expense insurance, is a type of life insurance designed to cover funeral and burial costs.
To purchase a policy for your husband, you will typically need his consent and may need to provide some basic health information.
It's important to compare different policies and providers to find one that suits your needs and budget.
Understanding Burial Life Insurance
Burial insurance, often referred to as final expense insurance, is a type of life insurance policy designed specifically to cover funeral and burial costs.
These costs can range significantly, with the National Funeral Directors Association (NFDA) estimating the average funeral expense to be between $7,000 and $12,000.
This doesn't cover additional costs like a gravestone or vault, which can push the total even higher.
The good news is, yes, you can buy burial insurance for your husband. It’s a practical option for ensuring that his funeral expenses don’t become an unexpected financial burden.
However, this typically requires his consent and involvement in the process. Insurance companies need an insurable interest, and as his spouse, you inherently qualify.
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Requirements to Insure Your Husband
Here are some requirements to purchase burial insurance for your husband:
- You must have his consent and signature on the insurance application.
- Proof of relationship, typically marriage, may be required.
- Basic personal information such as age and health status.
How to Buy Burial Insurance for Your Husband
Now, let's explore how to buy burial insurance for your husband.
- Start by evaluating your budget and determining how much coverage you need.
- Research insurance providers like Mutual of Omaha and Gerber Life, known for their burial insurance policies.
- Compare policies and premiums that suit your financial situation.
- Complete an application, usually available online or via a broker, ensuring your husband is aware and consents.
Types of Burial Life Insurance Plans
There are different types of burial insurance policies:
- Guaranteed Issue Life Insurance: No medical exams, no health questions, and coverage is guaranteed, usually higher premiums.
- Simplified Issue-No Exam Life Insurance: Requires a health questionnaire but no exam, offering slightly lower premiums.
- Traditional Whole Life Insurance: Sometimes used for burial coverage, this policy accumulates cash value and usually requires a health exam.
Top Guaranteed Issue Burial Life Insurance Companies
- Up to $25,000 of coverage.
- No physical exam and no health questions asked.
- Guaranteed Acceptance ages 45-85 (50-75 in NY).
- 30 day money-back guarantee.
- Two year limited benefit period
- Premiums never increase
- Coverage never decreases
- Coverage Amount: Up to $25,000.
- No Medical Exam.
- 30 day Money-back Guarantee.
- Two year limited benefit period
- A.M. Best financial strength rating: "A" (Excellent).
- Available for Ages: 50-80.
- Available in All States and DC excluding Montana.
When comparing providers, Mutual of Omaha and Gerber Life offer unique benefits within their guaranteed issue life insurance products. Both provide easy approval processes with no medical exams—ideal for seniors or those with health concerns.
Cost of Burial Life Insurance Policies
Comparing costs is crucial when looking at guaranteed issue burial life insurance.
Sample Premiums
Let’s consider sample rates from Mutual of Omaha for $10,000 coverage.
Here's a comparison of monthly premiums for $10,000 coverage for male, non-smokers:
Mutual of Omaha:
- Age 60: $60/month of $10,000 coverage.
- Age 65: $70.80/month for $10,000 coverage.
- Age 70: $90.20/month for $10,000 coverage.
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Gerber Life
- Age 60: $68.57/month of $10,000 coverage.
- Age 65: $88.64/month for $10,000 coverage.
- Age 70: $108.17/month for $10,000 coverage.
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Average Cost of Burial and Final Expenses in the USA
Basic Services: $2,135
Transfer to Funeral Home: $373
Embalming: $763
Dressing and Casketing: $264
Viewing: $463
Ceremony: $548
Hearse: $354
Utility Vehicle: $190
Median-Priced Casket: $3,500
Total Cost: $8,592
Eligibility Requirements for Burial Insurance
For those seeking burial life insurance knowing eligibility criteria is crucial:
- Age: Most policies are available to those aged 45 to 85.
- Citizenship: You must be a U.S. citizen or permanent resident.
- Payment Ability: Must demonstrate the ability to pay consistent premiums.
Average Funeral and Burial Cost in the U.S.A.
As you assess the costs, it's valuable to consider the average funeral and burial expenses in the USA, which sit around $8,591.
These figures help underline the adequacy of coverage amounts typically offered by guaranteed acceptance life insurance policies.
Understanding the average burial and funeral cost in the U.S.A. helps underscore the importance of such a policy.
By planning with life insurance for burial expenses, you can ensure that your loved ones are not left with this financial burden during a difficult emotional time.
Is Burial Life Insurance Right for Your Husband?
So, is burial insurance right for your husband? If the goal is to relieve your family of the financial strain associated with burial costs, it often is. This is especially true with limited savings or in cases where existing life insurance falls short.
If your husband is over 60 or grappling with health issues, burial insurance can be a timely and effective solution. By securing coverage now, you can lock in premiums before any further health declines.
NOTE: Despite the importance of such policies, some might wonder about buying burial insurance without their husband's consent, particularly if he's resistant or unaware. However, insurers typically require his participation unless he is legally incapacitated.
Summary
Remember, when you search "how to buy burial insurance for my husband," it's not just about finding a policy; it's about securing financial protection and peace of mind.
Beyond the practicalities, it's about honoring your husband's wishes and ensuring family stability in challenging times.
Ultimately, exploring your options with due diligence and comparison will empower you to make a well-informed decision, securing a policy that aligns with your financial planning goals and provides the necessary peace of mind in life's latter stages.
Burial Life Insurance Quotes
Top Pick – Mutual of Omaha
Mutual of Omaha offers guaranteed acceptance whole life insurance for people ages 45 to 85. Choose $2,000 up to $25,000 of coverage. Rates start as low as $8.84 per month. There’s no medical exam and no health questions. You cannot be turned down. You can get a quote and apply online now. Start Here to get a FREE Quote.
- Your life insurance policy comes with a 30 day Risk-Free, Money-Back Guarantee
Disclosure: Compensated Affiliate