If you’re in the market for burial insurance or simply need to know how to apply for burial insurance, you have come to the right place. We will walk you through the life insurance application process to help you understand how to buy burial insurance and the easiest way to get fast approval on your policy.
Applying for burial insurance is relatively easy, depending on your chosen company.
The life insurance application process can differ depending on the company, the agent processing the application, the underwriting, and the details of your medical history. In general, the application process is going to be the same as the application process for any type of life or health insurance.
You will need to supply basic details about yourself, such as your name, birthday, age, gender, and address. You may also be asked about your medical history and history of a family disease or any incidents where you have been hospitalized or prescribed medications.
Some questions can be detailed, so it’s important to answer honestly to ensure you are getting the best policy suited to your needs.
FOR EASIER NAVIGATION:
- STEP 1 – Determine Which Type Of Burial Insurance You Need
- STEP 2 – Decide How Much Burial Insurance You Need
- STEP 3 – Get A Free Quote To Compare Rates From Different Companies
- STEP 4 – Choose Which Policy Is The Most Affordable For You
- STEP 5 – Submit An Application
- STEP 6 – Phone Interview
- STEP 7 – Awaiting Underwriting Results
- STEP 8 – Review & Accept Policy
- STEP 9 – Policy Issue
- Additional Questions & Answers On How To Apply For Burial Insurance
STEP 1 – Determine Which Type Of Burial Insurance You Need
If you do not have available funds to cover your final expenses at the end of your life, then a burial insurance policy is all you need.
Even if you have an existing life insurance policy, you may not want your estate to be depleted by your final burial expenses. Having a burial insurance policy is one way to ensure that your whole estate will be available to your family.
A burial insurance policy will provide the necessary funds to ensure that your loved ones do not have to use out-of-pocket money to pay off your funeral expenses. This insurance policy pays cash directly to your named beneficiary to pay for your funeral services and other final expenses.
Burial insurance, also called final expense insurance, cremation insurance, and funeral insurance, is a form of whole life or permanent life insurance that provides a fund for the cost of burial, funeral, and other final expenses.
The coverage amount is minimal, usually ranging between $2,000 and $50,000 per policy. Burial insurance offers beneficiaries a cash benefit that they can decide how to use after they pass away.
This is how burial insurance works:
- The policy is permanent and can last your whole life.
- The premium rate is fixed and guaranteed never to increase.
- The death benefit is fixed and won’t decrease for any reason.
- The policy can’t be canceled as long as premiums are paid.
- Builds cash value on a tax-deferred basis.
Types of Burial Insurance
When applying for a burial insurance policy, you have two basic options: Simplified Issue or Guaranteed Issue policies. It is essential to know the difference between the two types of final expense life insurance no exam policies, especially if you have concerns about your health issues.
Simplified Issue – No medical exam is required for this type of policy. The insurance carrier evaluates your health based on your answers to a series of questions regarding your health.
Some of these questions include:
- Are you currently in a nursing home or hospice care facility?
- Have you been diagnosed with a terminal illness such as cancer?
- Do you suffer from dementia or Alzheimer’s disease?
Health issues such as high cholesterol or other minor health problems are fine. The objective of asking health questions is to determine your risk level to the insurance carrier.
You can buy the simplified issue whole life insurance if you are between the ages of 45 to 85 years old.
The best funeral insurance offers immediate coverage, meaning there is no waiting period. Burial insurance with no waiting period offers first-day coverage. If you die after the policy is in force, 100% of the death benefit will be given to your beneficiary. Call us if you’re looking for burial insurance for your parents.
Guaranteed Issue – also called guaranteed acceptance insurance policy would accept you regardless of your health issues as long as you fall in the age category.
If you have health conditions that may preclude you from getting insurance or do not want to share your health information, then a guaranteed issue policy can be your best option.
No medical exam or health questions are asked with a guaranteed acceptance policy.
This policy is best for people with severe health conditions.
There is a two to four years waiting period before the death benefit becomes active. If you die before the waiting period, your beneficiary will not receive the full death benefit; instead, they will receive a return of premiums paid plus interest.
STEP 2 – Decide How Much Burial Insurance You Need
How to apply for burial insurance? Step #2
We have already determined what type of burial insurance to purchase. Before you search the internet for the best burial insurance company, sit down and take some time to determine how much insurance coverage you need.
First – figure out how much you will need to cover your final expenses.
You will have to decide whether you want to be buried or cremated. Your decision will significantly affect the cost of the policy you need to buy because of the difference in cost between the two.
Other costs you need to consider include:
- Burial cost
- Funeral service
- Memorial service
- Digging and filling of the grave
- Cost of the plot
The cost of the funeral is often the largest single cost. However, there are other final expenses to consider, such as medical bills, credit card bills, legal costs, and living expenses, to name a few.
You should add up all these costs to determine how much burial insurance you need.
STEP 3 – Get A Free Quote To Compare Rates From Different Companies
How to apply for burial insurance? Step #3
Once you have decided on the type of policy and the amount of insurance you need, the next step in the life insurance process is to see what it will cost.
Get a free quote from different insurance companies in the market, like burial insurance AARP, AIG burial insurance, Metlife burial insurance, or Colonial Penn burial insurance. Comparison shopping is the easiest way to get lower premiums on a life insurance policy.
Compare rates with multiple carriers to get the best price and avoid overpaying for coverage.
The best way to do this is to work with an independent life insurance agency like Funeral Funds to save yourself from the hassle of getting a quote from each company individually. Doing this will cost you nothing but help you find the best insurance company for your specific needs.
Funeral Funds represent a variety of different burial insurance companies.
After we determine your health profile, we will go to these companies and see which carrier will give you the best price and coverage value. We have your best interest at heart and can get you more coverage for a better price even if you have health issues, assuming your health is good enough to qualify for it. That’s the benefit of working with an independent agency.
Get a FREE burial life insurance quote by answering the instant quote form on this page. We work with people like you who like to purchase affordable burial insurance rates regardless of your physical or medical condition.
We will find you the lowest rates with access to all the top-rated burial insurance companies.
STEP 4 – Choose Which Policy Is The Most Affordable For You
How to apply for burial insurance? Step #4
Once you have decided on your amount of coverage and received the pricing from our instant quote tool, the next step is choosing which policy is the most affordable for you.
Decide on which carrier you want to apply to. You may be concerned with the financial stability of the company. To this end, we work with “A” rated or better carriers so you can be sure that the company will be there when you need it most.
Tell us immediately if you are interested in choosing a no-medical exam insurance company to avoid blood drawn or give a urine sample. Many top-rated burial insurance companies offer no medical exam. They will only ask a few health questions and pull your medical records and prescription history.
You can now request an application to compare the terms and conditions of each policy more carefully.
Policy applications include the information you see in more detail on the instant quote form. You’ll also be asked some health questions so the insurer can check your level of risk.
Once you receive the application, look carefully at the fine print. Most policies have an array of clauses and exclusions that can protect you or limit the insurer’s responsibility.
Be mindful of the waiting period if you opt for a guaranteed issue policy.
Some insurance carriers have a two-year waiting period, but some, like Mutual of Omaha burial insurance, have a 4 year waiting period for cancer. If you have special needs, consider increasing the scope of your coverage with policy riders.
STEP 5 – Submit An Application
How to apply for burial insurance? Step #5
After you find a company that fits your need, it’s the perfect time to apply.
Completing an application form will be the first step after determining what type of policy you need and how much face amount would be best for you and your budget. The application can be in paper form, a telephone application, or online form.
You will need to fill out an application with an agent either by phone or in person. The application process will usually take 10 to 20 minutes. You will need to answer basic questions like your name, birthday, age, and address.
You will also find a comprehensive series of questions regarding your medical history and the kind of lifestyle you live.
You will also be asked about your social security and driver’s license numbers. This information is needed for the life insurance company to access your driving records and medical history.
You will need to determine your beneficiary when you apply.
The beneficiary is the person who will receive the death benefit payout when you pass away. You will need to enter their name on the application so that the life insurance company can confirm their identity in the event of your death.
It is always advisable to have a contingent beneficiary in case something happens to your primary beneficiary.
Be honest when answering the application form; do not provide false information.
Suppose the insurance company discovers that you lied about your health status or any risky sports you participate in. In that case, your policy can be canceled, and your premiums will not be returned.
Lying on your life insurance application is a fraud, and your policy will be nullified if the insurer finds out after your death.
STEP 6 – Phone Interview
How to apply for burial insurance? Step #6
In some cases, you will receive a telephone health history interview with the insurance company staff member to clarify some of the questions about the information you give that they reviewed on your application form or medical records. A phone interview is a basic part of the insurance application process.
Phone screening is easy, and if you’re prepared, you can get it over within no time.
The life insurance interview is a way for the carriers to get a more accurate look at your risk and ensure they have all the data they need about you. The interview will also determine your final rates or how much it will be to insure your life.
In many cases, you will get tentative approval on the phone after completing your phone interview.
Everything said during the phone interview is confidential, so there’s no need to fear your personal information will be leaked.
The phone interview will only take 15 to 30 minutes and won’t take up much of your day. Also, it goes even faster if you have all the information.
Here’s the information you need to prepare:
- Social security number
- Driver’s license
- Medical history information, including the doctor’s name and treatments
- Prescription drugs
- Other life insurance policies you have
- Financial information like income and net worth
- Citizenship documentation
Simplified issue and guaranteed issue life insurance policies are often approved on the spot with a telephone interview.
STEP 7 – Awaiting Underwriting Results
How to apply for burial insurance? Step #7
Purchasing a no-medical exam option on a simplified issue policy does not mean you avoid the underwriting process. The life insurance companies will still check your medical background.
There are four ways to check your medical background:
- Medical Information Bureau (MIB)
- Prescription Check
- Medical Records
- Motor Vehicle Report
The underwriting results are dependent on several factors ranging from the insurance carrier, the type of policy, your health, and the face amount you requested.
Insurance carrier you choose – some carriers better get applications turned around quickly. Due to the volume of sales, the number of staff, and company culture, some carriers may take more time to process applications.
The type of policy – no exam policies simplified issue and guaranteed issue policies are generally turned around in less than 72 hours.
Since there is no medical exam, the underwriters have less to evaluate. They will only need to look at your prescription history and driving history. After the telephone interview, the application is generally approved.
Your health – applicants with more health issues often take longer to complete the application process. It is because APS or attending physicians’ statements are often requested. Doctor’s offices may ignore these requests unless you make a follow-up.
Face amount requested – the face amount requested also affects the turn-around time. The amounts may vary depending on your age and the carrier involved.
Simplified issue and guaranteed issue policies are often approved on the spot with a telephone interview.
STEP 8 – Review & Accept Policy
How to apply for burial insurance? Step #8
The delivery requirement is the only thing that remains in the application process. It is usually made through an electronic signature. The application form will be emailed to you for a secure electronic signature.
You will also need to prepare a check if you did not submit the payment with the application form (or if you have the premiums auto-drafted out of your bank account).
Also, you will need to apply your signatures on any amendments to the policy. This might take a few minutes.
STEP 9 – Policy Issue
How to apply for burial insurance? Step #9
You are now finished with the application process. You can now sit back and relax. You will generally receive your policy once approved for insurance coverage within ten days.
When you get the policy, you’ll have to sign it, set up payment, and send it back (unless you have the premiums auto-drafted out of your bank account…we recommend you pay your premiums this way).
After the first payment, you’re officially covered by life insurance!
You have a 30-day free look period to review your policy. If something isn’t to your liking, you can change it or get your money back. So whether you pay monthly, quarterly, or annually, you will get your money back.
The nine steps listed here are fairly standard procedures for applying for burial insurance throughout the life insurance industry.
We understand how important a life insurance plan purchase is to our clients, so we strive to help you through this process quickly and efficiently.
We will streamline the life insurance application process to make it easy and hassle-free for you to let you have the policy in your hands as fast as possible.
It is best to work with an independent agency like Funeral Funds which can guide you through the entire process without you stressing out over every detail yourself.
If you’re ready to get burial insurance for seniors, you can start comparing quotes with the instant final expense quote on your left. If you want to request applications, call us at (888) 862-9456, and we will walk you through the entire process.
Additional Questions & Answers On How To Apply For Burial Insurance
What is an insurance application?
An insurance application is a document that an insurer requires you to complete when applying for insurance coverage. The application collects information about you, your family, and your health history so that the insurer can determine whether or not to offer you coverage and, if so, at what premium rate.
When do I need to complete an insurance application?
You will need to complete an insurance application when you are applying for a new insurance policy or renewing an existing policy.
What information do I need to provide on an insurance application?
When completing an insurance application, you will generally be asked to provide personal information such as your name, address, and date of birth. You will also be asked questions about your health history, family, and any current health problems or conditions. In some cases, you may also be asked to provide information about your lifestyle, such as whether you smoke or have any risky hobbies.
Who can apply for burial insurance?
Burial insurance is a type of life insurance specifically designed to cover the costs of your funeral and burial expenses. Burial insurance can be purchased by almost anyone of legal age, regardless of their health or age.
How do I apply for burial insurance?
You can apply for burial insurance through a qualified insurance agent who can walk you through the insurance application process.
What is the process for applying for insurance called?
The process for applying for insurance is called underwriting. Underwriting is the process whereby an insurer evaluates your risk to determine whether or not to offer you coverage and, if so, at what premium rate.
What does underwriting mean?
Underwriting evaluates someone’s risk to determine whether or not to offer them insurance coverage and, if so, at what premium rate.
What is the purpose of underwriting?
Underwriting aims to protect the insurance company from losses by ensuring that only those unlikely to make a claim are insured.
What factors does underwriting take into account?
Underwriting considers many factors, including your age, health, family health history, lifestyle, and the type of insurance coverage you are applying for.
What is the first step in buying insurance?
The first step in buying insurance is to find a qualified insurance agent who can help you through the process.
What should I look for in an insurance agent?
When looking for an insurance agent, you should ensure that they are independent agents licensed to sell insurance in your state and know about the type of insurance you are looking for. You should also make sure that the agent is someone you feel comfortable working with.
What is the next step after finding an insurance agent?
The next step is to begin the process of underwriting, which will involve completing an insurance application.
What information should you provide the insurance company?
When applying for insurance, you must provide the insurance company with information about yourself, your family, and your health history.
What are the parts of an insurance application?
The parts of an insurance application vary depending on the insurer, but they typically collect information about you, your family, and your health history.
What questions are asked on a burial insurance application?
Burial insurance applications typically ask questions about your age, health, family health history, and any current health problems or conditions you have.
How long is the insurance application process?
The insurance application process can take 10-15 minutes, depending on the insurer.
What is the difference between an insurance policy and an insurance contract?
An insurance policy is a document that outlines the terms and conditions of your insurance coverage. An insurance contract is a legally binding agreement between you and the insurance company.
Does an insurance application have to be signed?
Yes, insurance applications must be signed to be valid.
What are the consequences of not signing an insurance application?
If you do not sign an insurance application, the insurer will not be bound by the terms of the contract and will not provide you with coverage.
What is the next step after signing an insurance application?
After you have signed an insurance application, the insurer will review your application and decide on whether or not to offer you coverage.
Who signs an insurance application?
The insurance applicant signs the insurance application and the insurance agent.
When is an insurance application signed?
An insurance application is typically signed when the applicant applies for coverage.
Why is an applicant’s signature required?
The applicant’s signature is required to make the insurance contract legally binding.
What happens if an applicant refuses to sign an insurance application?
If an applicant refuses to sign an insurance application, the insurer will not be able to offer them coverage.
What is the minimum qualification for insurance?
The minimum qualification for insurance is typically at least 18 years old to apply for insurance.
What are some other requirements that may be necessary to obtain insurance?
In addition to being over 18 years of age, you may also need to be a U.S. citizen and have a Social Security number.
Does burial insurance check medical records?
Yes, burial insurance companies offering 1st-day coverage will check your medical records to determine whether or not you are eligible for coverage.
What are the health questions for burial insurance?
Burial insurance companies typically ask questions about your age, health, family health history, and any current health problems or conditions you have.
Do the insurance companies access my health record?
Yes, insurance companies have access to your health records to determine whether or not you are eligible for coverage.
What information do insurance companies have access to?
Insurance companies have access to your medical records, family health history, and any current health problems or conditions you have.
Do insurance companies share your information?
No, insurance companies do not share your information with other companies.
Is it hard to get approved for burial insurance?
It is not hard to get approved for burial insurance if you work with a qualified insurance agent from Funeral Funds. We will help you find the right policy to fit your needs.
What medical conditions prevent you from getting life insurance?
Some medical conditions that may prevent you from getting life insurance are cancer, heart disease, and oxygen use.
Can I lie on a life insurance application?
Yes, you can lie on a life insurance application, but the insurance company will often refuse to pay the death benefit if the insurance company finds out you have lied.
What happens if I don’t disclose a medical condition on my life insurance application?
The insurance company may not pay the death benefit if you do not disclose a medical condition on your life insurance application.
What are the consequences of lying on a burial insurance application?
If you lie on a burial insurance application, the insurance company may refuse to release the insurance payout to your beneficiaries when you die.
What are the various steps in the burial insurance process?
The steps in the burial insurance process are:
- The insurance agent will help you choose the right policy for your needs.
- You will sign the insurance application and pay the premium.
- The insurer will review your application and decide whether to offer you coverage.
- If approved, the policy will be issued, and you will be covered.
- If you die, the death benefit will be paid to your beneficiaries.
What can I do if I am declined for burial insurance?
If you are declined for burial insurance, you may be able to find another insurance company through Funeral Funds that will offer you coverage.