Approximately 76% of those we speak with are in a Graded, Modified, or Guaranteed issue policy when they are eligible for immediate coverage. Contact us to see if we can help.

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If you purchased a burial insurance policy within the last 3-5 years, you may be able to qualify for lower costs, more coverage, immediate coverage, or all three! Reach out to speak to an expert to see what you may be eligible for

Approximately 76% of those we speak with are in a Graded, Modified, or Guaranteed issue policy when they are eligible for immediate coverage.

Immediate coverage is lower priced, and have coverage from the first policy payment.

Graded/Modified require health questions, but still have a waiting period for the insured.

Guaranteed Issue coverage has no health questions and a 2-3 year waiting period.

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Types of Burial Insurance

Due to the wide range of health conditions, Burial Insurance also has 3 Primary types of coverage

• Immediate Coverage: Immediate coverage provides the full death benefits from day one of the policy, making it an attractive option for individuals seeking immediate protection without waiting periods. This type of coverage is typically based on health assessments and may require applicants to answer medical questions or undergo minimal underwriting. Immediate coverage burial insurance is suitable for those in decent health looking for quick and comprehensive coverage for final expenses. However, each product is different... for example, where one product may not approve someone with COPD, another will approve them happily. That is why it's important to speak with an expert who can determine your health and help shop all of the products available for you in your market

• Graded/Modified Coverage: Burial insurance with graded or modified coverage offers a structured approach where the death benefits are phased in gradually over a specified period, often ranging from one to three years (this is different than Guaranteed Issue below). During this "build-up" period, if the insured passes away due to natural causes, the policy may only pay out a percentage of the death benefit or return premiums paid. Graded or modified burial insurance is designed for individuals with pre-existing health conditions that may not qualify for immediate coverage, providing a pathway to eventual full coverage over time. Each product calculates how to apply their graded/modified coverage differently. Some products will apply 30% of the death benefit the first year, 70% the second year, and 100% the 3rd year. Whereas others may only return the premiums you have paid back to you (with 5-10% interest) if you pass away within the first few years (a modified plan that only pays premiums plus interest is generally more expensive than a guaranteed issue plan, and many times it makes more sense to go guaranteed issue due to price)

• Guaranteed Issue Coverage: Guaranteed Issue coverage is tailored for individuals with significant health issues or pre-existing conditions that prevent them from qualifying for other types of life insurance. This coverage does not require medical exams or health questions, ensuring acceptance regardless of health status. However, guaranteed issue burial insurance often comes with lower coverage limits ($10,000 - $25,000 maximum) compared to other types of burial insurance, making it a viable option for those who cannot secure coverage through traditional means. Similar to how some Modified coverage works, a guaranteed issue policy always requires a 2-3 year waiting period, wherein if you pass away from natural causes within that time-frame, the insurance company will pay your beneficiaries all of the policy premium you paid into the policy PLUS an additional 5-10% interest. However, if the insured passes away from an accident during that time frame, the full death benefit will be paid

Final Expense Costs

The premium is determined by the amount of death benefit wanted, the lower monthly premium the lower death benefit will be. Still, the premium costs you pay are typically less than the funeral expenses. The average cost of a funeral with a burial is around $7,000 and the average funeral cost with cremation is around $5,000.

In addition to basic service fees, these costs may include:

• $350 for the transfer of remains

• $750 for embalming

• $255 preparing the body

• $2,500 casket

• $925 for using the funeral home

• $340 hearse

• $150 service vehicle

• $175 printing package