Burial Insurance Policy: How You Can Protect Yourself and Your Family

burial insurance policy While no one likes to plan their own funeral, having one in place will ensure that everything goes according to plan when the time comes. While it would be nice to have loved ones take care of your burial arrangements, sometimes it doesn’t always work out that way. In order to make sure that you are fully covered, it is important to protect yourself by investing in a burial insurance policy. Burial insurance will cover all of the expenses of your funeral, depending on what type of plan you have.

Burial Insurance Cost and Policies

The estimated cost of a funeral in Canada is between $5,000 and $15,000, which is steep when you would rather leave your funds to your family members instead of spending it on what could have been a pre-paid funeral.A burial insurance policy often works the same as a life insurance policy, except that it is only meant to cover the costs incurred when you pass away. While tragedy can strike at any age, burial insurance is mostly marketed to seniors or those who are 65 and over.

NoMedicalLifeInsurance.ca offers burial policies that are actually called ‘no medical insurance policies,’ which usually take the form of guaranteed issue policies or simplified issue policies. When choosing a guaranteed issue policy with us, you will not need to undergo any tests or answer any questions about your current health state, therefore not allowing for disqualification. However, with simplified issue policies questions are required, but customers will not have to undergo any medical tests.

The rate of your burial insurance policy could depend on any medical questions asked or tests taken, and even on your age. Medical issues, lifestyle choices, and smoking can be some of the factors that can influence the rate of your medical insurance premium. A premium is the amount you pay per month, and can be relatively low depending on the type of policy you get. Here at NoMedicalLifeInsurance.ca, we strive to keep your costs low while giving you the best insurance policy possible. Each policy has to fit the needs of the customer, and we’re proud to offer effective and efficient plans to all who require them.

While a burial insurance policy covers your expenses after you pass away, investing in a life insurance policy in conjunction with a burial insurance policy can ensure that you’re not only covered after you stop living, but also while you still are. You will be covered for health issues such as illness and injury should they cause you to lose a current job position. They can also ensure that your family will receive compensation should you pass away unexpectedly. It is important to make sure that your family is financially secure should anything happen to you, especially if you were the main income in the household.

Life insurance along with a burial insurance policy can also cover any outstanding expenses you may have incurred, such as debt and a mortgage. When you choose to invest in a policy plan with us, we make sure that you’re getting the best coverage possible. You and your family will be happy to know that if any tragedy or unexpected unfortunate accident should occur, full coverage will be provided to ensure that living and other expenses are covered.

If you are looking at investing in a burial insurance policy, make sure you contact NoMedicalLifeInsurance.ca for all of our plan options. We work for our customers, and strive to provide you and your family with the utmost care and coverage. To learn more, contact us at 1-866-899-4849.

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8 comments on “Burial Insurance Policy: How You Can Protect Yourself and Your Family
  1. Gilda says:

    Does my life insurance have to cover my burial expenses. I want something left over for my kids

    • No Medical Life Insurance says:

      Hi Gilda, You can choose who ever you wish as the beneficiary and they can use the money to cover burial expenses or for other purposes.

  2. Ted U says:

    Is life insurance always paid out tax free?

    • No Medical Life Insurance says:

      As a rule of thumb if your life insurance is paid with after tax dollars the benefit is paid out tax free. Universal Life and Whole Life insurance also allow for tax sheltered growth which is also paid out tax free.

  3. denise johnson says:

    I guess even if it is quite creepy to plan for your burial, it is a good thing to do so. This will give you peace of mind. It would also ensure that whatever happens to you, your family will not suffer financial burden of losing you.

    • No Medical Life Insurance says:

      Thanks Denise. You make a good point. Life Insurance is an unselfish purchase its not for the insured but rather for the people the insured cares for – to make sure they are not faced with a financial burden.

  4. Paul says:

    How much is a funeral policy for a 58 year old male. I have no real health issues but hate mediacsls

    • No Medical Life Insurance says:

      Thanks Paul. The premiums for a life insurance plan to cover funeral expenses depends on the amount of life insurance and the type of plan. You may be able to qualify for a traditional life insurance policy which has health questions but no medical tests.

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