Burial Insurance Frequently Asked Questions:
Do I need a medical exam to qualify for coverage?
No.
Do I have to answer health questions in order to qualify?
Usually not, unless you are getting a larger face amount
Do I need to give blood and urine specimens to the insurance company?
No, just personal contact information.
Will the company look at my medical records?
No. They assume your health is bad
Once I get coverage, can my premiums increase?
No. Most policies offer level premiums.
Can my policy be cancelled?
Only if you don't pay your premiums.
Can I be declined?
Since most applications have a yes or no questionnaire, most people are automatically approved or the agent will not submit the application.
Can anyone get graded life insurance?
Yes, unless you are over 85-90 years of age.
When does my coverage begin?
The postmark on the payment or the date of the application, and if you answer no to all the questions.
What if we aren't ready to make funeral plans?
Policy benefits usually get paid out to the beneficiary, so you can stay unplanned.
Do I qualify?
Yes, unless you answer yes to a health question, have a serious illness or are in a nursing home. In that case, you would want a guaranteed issue or graded life product.
How expensive is it?
Because burial coverage is low benefit, premiums usually run from $10-80 per month.
Shouldn't I buy a graded policy?
Only if you have a serious illness that will get you rejected from a standard burial policy.