7 Ways To Get The Lowest Pricing on Burial Insurance – Podcast Episode 16

In this podcast, I’m going to be discussing seven ways to get the lowest pricing on burial insurance. Let’s dive right in. The number one way to get the lowest pricing on burial insurance is to compare multiple insurers. Now, I don’t want you to get too confused on like checking with multiple agents, that’s different, although that is a viable option.

But what we do at funeral funds of America is we’re a broker. We work with a bunch of different insurance companies that we can go out and shop the best rates for you based on your age, your gender, your health, and the state that you live in.

And there’s there’s certain companies out there that that are called captive agencies or in the agents that work for them are called captive agents. What that means is that they only sell one product. And if they tell you, Hey, this is the only thing you’ll qualify for. It’s kind of a half truth, because it’s half true, because that’s the only thing you’ll qualify from through them. But it does not mean that’s the only policy you’ll qualify through in the entire in the entire insurance industry.

So we’re a broker, we work with multiple insurance companies. And here’s the reason why everybody’s got unique health questions and health problems. And when we’re helping people in final expense insurance, people age 50 to 85 years old, even up to age 89, you know, who’s more likely to have health problems, you know, 20 3040 year olds or 50 60 70 year olds, right.

So we work specifically, in first day coverage, we do not help people with two year waiting period plans. What that means is we’ve got to go out and hunt out specific insurance companies that will offer the lowest rates and the highest acceptability approval rates. And what that means is all different insurance companies ask different health questions. And one company may care about your health issue, and another may not even consider it at all.

So I mean, you could go from being approved by one insurance company, and denied by another insurance company. So that’s, that’s really, really important to have an experienced agent that understands underwriting that has done their homework on all the different insurance companies out there, so that you have the best chance of getting first day coverage and the lowest rates.

And first day coverage is always going to be less expensive than two year waiting periods, we do not recommend to your waiting periods. You know, a lot of those are the ones you see on TV, right? Those 990 Something plans, like advertising every seven minutes on TV, they drive you bonkers. They make everything sound so good. And they really blinked that fine print on they’re really small, just for a split second says limited benefit period or something like that.

So yeah, be cautious of that. So again, a lot of times, it doesn’t do you any good to reach out to a whole bunch of different agents. In many cases, it’s just going to get you on a whole bunch of different telemarketing lists in your phone is going to blow up off the hook. So we remember, just recommend people be cautious with that. If you send info to us, it’s private, we don’t sell your information, there’s a good chance if you’ve sent it in, you might even end up talking with me or one of our other terrific agents.

So let let us do that comparison for you. In fact, you can go to our website at funeral funds.com And I just about every page, we’ve got coders that you put your age and gender and smoker status and stuff like that. And it will take you to a page it’s going to be the same quoting page that we use. That’s going to show you all the different insurance companies and all the lowest prices.

Now, the challenge there is if you’ve got some medical issues, you’re not going to know necessarily what you qualify for because you’re not an expert in underwriting. But just understand that we’re terrific at that. And also understand most of the normal stuff we get as we get older is perfectly fine.

You’re gonna get first day coverage with one of our companies. High blood pressure, cholesterol Diabetes. You know, even people with past histories of strokes, or heart attacks or stance or cancer, major surgeries, as long as it’s been beyond a certain specific period of time, and that changes with each company, as long as it’s been beyond that time, we can get you first day coverage, they’re gonna treat you, like you never even had those health issues.

So, let’s move on to number two, the second way to get the lowest pricing on burial insurance is just opt for a lower coverage amount. You know, some people call us up and they’re like, you know, hey, I’m gonna get buried, and I want 40 or $50,000 worth of insurance. And we’re like, boy, that that’s gonna be a pretty, pretty extravagant burial. Right? And well, no, no, I just, I just want to, I want a basic burial. But I want to leave money behind for my kids or something like that. And we always tell people that, you know, it’s, it’s always wonderful to be thinking of your children and try leaving money behind for them.

But by the same token, if you can’t afford it, then that doesn’t benefit you and your kids wouldn’t want that to happen anyway, your kids want you they don’t want money necessarily. And, you know, in so many cases, you would be better off using that extra money that you would pay to get a higher premium, and spend that money on your kids while you’re alive, do special things with them, take trips with them, whatever that would be. And they’ll have those memories for the rest of their life. And they will appreciate that a lot more than just getting a check after you’re dead in the ground in most cases.

So opt for lower coverage amount, you know, this final expense insurance, life insurance, burial insurance, cremation insurance, we always recommend you get the minimum that you need, you know, get the cost of what the service or whatever, whether it’s a cremation or burial, get the cost of it today, build in some extra money for inflation, because we don’t expect you to die anytime soon.

And then just go with that. And then keep as much money in your pocket as possible. Because the money you have is meant to be enjoyed. But you do want to be responsible and make sure that when you pass away, there’s no financial burden on your loved ones.

Third way to get the lowest pricing on burial insurance is maintain good health. And you know, I understand it. Some of this is out of our control. Sometimes we just end up, you know, kind of with the genetic timebomb from our parents, they were there they had it and you were more predisposition disposition to it.

But also understand that the better you treat your body, the better you treat this wonderful vessel that’s been given to us on this earth, the lower insurance rates you’ll get. So just exercise eating right kind of stuff like that. A lot of people just aren’t really aware of what they’re putting in our in their bodies. And that can lead to problems down the line. And, you know, you can buy healthy foods, you can stop smoking, you can go for walks, you can do all that other stuff. You know, when you’re doing that you will qualify for the best rates, as long as you’re reasonably healthy.

Now, you know, sometimes there’s too little too late, like after you’ve been diagnosed with dementia, it’s really difficult to kind of get first day coverage, because the insurance companies you’re gonna see those medications you’re on, they’re going to know that you have dementia. So yeah, maintain health. That one’s that one’s just kind of out of a lot of people’s control. And just because so many people are so busy living, that they don’t think about dying, and then all sudden they have this major life event.

You know, we have so many people who call us up and say, Hey, I was just diagnosed with cancer. I need to get this insurance. Now, boy, I just realized the importance of it. Well, once you’ve been diagnosed with cancer, that’s the wrong time to be shopping for this insurance. So yeah, just sooner is always better than later.

Number four way to get the lowest pricing on burial insurance is to quit smoking. You know, smoking is a risk factor that increases the prices of your burial insurance, because you’re increasing the certainty that you may get cancer or emphysema or COPD, COPD, any number of things in the future. So the insurance companies, they will all ask a variation of this question.

Have you used tobacco, nicotine products vaping, chewing tobacco, anything like that in the last 12 months? So if you have you would have to answer Yes. And your premiums would automatically increase because there’s a much greater chance that you will die prematurely using tobacco and nicotine products. So if you want to save money, then you could wait 12 months and make sure that you don’t use any tobacco or nicotine products and get the lower rates now.

Do we recommend that? No, no And here’s why smoking is really tough to quit, right? It’s addictive in these, these tobacco companies make these products so addictive, they actually engineer addiction into these products and make it difficult for you to quit.

So what we always recommend is get insurance policy right now get the smoker rate. And I know, I know you’re gonna pay a little bit more, but get it because you’ve got first day coverage with us then. And then what you can do is if you do quit smoking, and it may take a couple of times for you to actually quit smoking and get that the stick, you know, may take three, four or five years.

But if you do eventually stop smoking for a period of 12 months, then give us a call back. And we’ll go shop around and see if we can’t save you money and get you a lower price plan. But the whole the whole goal of burial insurance is just to make sure that you don’t leave a burden behind. And that means starting from today.

So you know, a life insurance plan that or burial insurance plan that you never get, because you’re thinking you’re going to quit smoking is probably a plan that you’re never going to actually have in place when you pass away. So just just suck it up buttercup, and and get the smoking rates, and we can always try to get you qualified for lower smoking laters. When Glory hallelujah, that day comes up, it’s been 12 months since you had your last cigarette. Yeah.

So the fifth way to get the lowest price on burial insurance is pay annually. And oh my gosh, we are conflicted on this one. But we want to give you every opportunity to try some try to save some money. But most of the people we help, we’re going to actually help them get a monthly payment. Because when people are on a fixed or limited income, Social Security or disability, something like that, they like to have predictability. And, you know, if you just know it’s going to be a 30, or 40, or 50, or $60 payment every month, it’s just built into your budget.

And what we typically help people do is we just get them on a monthly billing cycle. And we have them coded coincided with their Social Security or disability payment, which would typically be the first of the month, a third of the month, or the second, third or fourth Wednesday of the month, depending on your age. And that works just terrifically because what we can do is we can make sure that premium payment comes out of their checking or savings account the same day that they actually get paid by Social Security. And you never have to worry about your policy lapsing. It’s practically bulletproof. It’s terrific.

Here’s the challenge paying annually, there are some companies where you might be able to save, you know, 1020 $30, whatever it would be by paying annually. But the thing is, if you’ve got this one big bill, well, why bigger, larger, right? You got a larger bill that comes on an annual basis. And what happens if you don’t have the money, or what happens if you know your refrigerator had to be replaced that month, and now you no longer had that money, then your policy lapses and you’ve paid all this money into your policy. And now you’re gonna have to let it lapse and you’ve got no benefit from that. Whereas if you just built it in to a monthly payment, you know, you’re gonna be so much better off.

And we can help you with all of that that’s that’s generally going to be the better way to go. You can also pay with some companies quarterly or every six months or something like that. But we just run into the same problem that people on a fixed or limited income. If we No, we just buy something on a monthly basis, and how to coincide with their Social Security or disability pay day. It is practically bulletproof. The sixth way to get the lowest price on burial insurance is purchases when you’re younger. Now this doesn’t do you any good if you’re hearing this podcast right now and say, Well, I didn’t I should have purchased this five years ago. Well, yeah, you should have of course you should have.

But you know, yeah, if you’re listening to the podcast, your pricing will never be lower than it is today. Every single insurance company out there, the older you get each year you get older, they’re going to increase the pricing on it. So if you’ve ever thought about getting this insurance, just get it sooner versus later because number one, you’re younger.

Number two, in most cases, you’re going to be healthier. The older we get, the more those health problems kind of creep in. And that kind of comes back to our number three topic, maintain good health, but sometimes those things are out of our control. Sometimes. We you know, if a lot of times if we know better, we do better, but if we haven’t known better most of our I’ve and you know, we’ve could have had a lot of exposures like during work or chemicals or toxicities or processed foods, whatever it would be. And we’ve just got a lifetime of buildup and can cause health issues as we get older. And, yeah, it’s time to purchase this is when you’re younger.

Next best time is today, you’re always going to get the lowest price today. And then the seventh way to get the lowest pricing on burial insurance is just work with an independent agent. Now, remember, earlier, I talked about captive versus non captive agents. So at funeral funds of America, we are an independent, independent agent, we are a broker. And we work with a lot of different insurance companies.

And what we can help you do is just help you find the lowest rates, the best rates for your needs. The one other thing you want to watch out for, and this is kind of a blend of number one, compare multiple insurers and work with an independent agent. There’s a lot of insurance agents, it attracts a lot of a lot of new people, so and it’s got a high churn rate, boy, probably like 97% of the agents that are in the business aren’t going to be in the business in three years.

So you want to choose a company that’s got a history, a long history of helping people in being in business and staying profitable, so that they’re going to be around when you need help. And it funeral funds. We’ve been around for so long. That’s That’s what people love about us that when they they have questions, or they need help, they just call us and we’re always going to be here.

But yeah, there’s so many, so many agents out there, that they think it’s going to be easy work and it’s easy money. And, you know, it’s easy to sell life insurance, and it’s easy to match people up with the best insurance policies. And it’s not, it takes a lot of skill, it takes a lot of passion takes a lot of caring, and it takes a lot of technical knowledge. And these people just rotate out of the industry.

So if you want to if you want a policy that you’re going to need help with in the future, which everybody does, whether you need to change your bank or change beneficiaries, or add coverage or anything like that. No work with somebody that you trust. And you know, we would like to earn that trust with you at funeral funds.com So please keep us in mind.

NOTE: Show notes are AI transcribed, so there may be some spelling or grammatical errors.