Burial Insurance for Parents in 5 Easy Steps

burial insurance for parents

The cost of a funeral is on the rise so it is important to make sure you have burial insurance for parents in place to protect against paying those costs out of pocket.  As senior parents plan ahead about how to pay for final expenses, including a burial insurance plan can guarantee funeral expenses are covered. Burial insurance for parents is unique because sometimes the children want to pay for these plans and knowing which companies allow a payor different than the owner of the policy saves time and money getting quotes.Sometimes parents are having difficulty and the children are overseeing their parents’ finances and need to secure final expense life insurance on behalf of their parents due to guardianship. Ideally senior parents have a plan in place for paying for their burial. However, many seniors are not financially able to include this expense in their monthly budget. That leaves their family members, often their children, looking for burial insurance for parents so that all involved can have the peace of mind that these expenses will be paid for in their time of need. 

Best Life Insurance can help seniors and their children find the best plan at the lowest cost. We work with numerous companies which means flexibility to get the exact plan you need. Features of the burial insurance for parents include easy application, no medical exams, and quick and easy approval. 

5 Easy Steps for buying Burial Insurance for Parents

    Determine your parents’ wishes

*Burial or cremation are two common options for end of life arrangements. Knowing what your parents prefer is essential in determining how much final expense life insurance they need. Burial tends to be more common so this type of life insurance is often called burial insurance for parents.

  Add in other expenses

*In addition to covering funeral costs, your parents burial insurance plan can include paying off small debts, legal fees, and even leaving a jump start on college money for granchildren  

  Gather information

*First steps can be taken if you have all your parents’ health information to get a quote started but ideally, you will be together when taking steps to get burial insurance for parents.  Many times, the entire process can be handled with one phone call if your parents are available at the time.

  Determine the beneficiary

*Children should be sure what their parents’ wishes are and a beneficiary is chosen to receive the death benefit and carry out the final arrangements. Many companies allow more than one beneficiary.  If one of the children is paying for the burial insurance plan, that person is required to be listed as the beneficiary with most plans.  

Get a FREE quote

*Knowing how much to budget for and making sure your parents’ final expenses will be paid for is key to getting a plan in place. Get a free quote so you can have a starting point for making a plan for your parents.

FAQS about Burial Insurance for Parents

Q.  What if my parents live in a different state?

A. No problem!  Best Life Insurance works with many companies and will find the companies who allow the insured and payor to live in different states. The policy will always be considered placed and active in the state where your parents live. 

Q. What if my parents are over 80?  Can they still be insured?

A. Thankfully, most whole life insurance plans are offered through age 85 and a handful of companies even go up to age 90!  The key with a parent in their 80’s is whether their health conditions would affect their plan being preferred day one coverage or one that requires a waiting period. 

Q.  One of my parents is diabetic. Can you help them?

 A. Diabetes has become prevalent in our society and the insurance companies have adjusted their terms of approval to reflect this common health problem. Not so long ago, diabetes would have meant a decline or waiting period but now, most diabetics parents can get immediate coverage with burial insurance for parents. 

Q.  What if my parent gets declined for coverage?  What then?

A. Best Life Insurance has access to over 50 companies nationwide.  Some of those companies specialize in Guaranteed Approval Burial Insurance for parents between the ages of 50-85.  If your parents are between 50-85, we can get them approved AUTOMATICALLY!  There are no health questions or medical exams for guaranteed approval final expense life insurance. The drawback is that there would be a 2 year waiting period before death benefits are paid unless death is accidental.  However, two years goes by quickly and it is certainly better to have something in place rather than being fully declined for any coverage. 

If you have questions we haven’t addressed here, call us at 800-517-5131 and one of our specialists will assist you. Your parents have given you their BEST-  It’s time to repay that by giving them the peace of mind knowing their final expenses are taken care of.  If they can’t pay for this themselves, plans are available to help children budget for this inevitable time so the time after their passing can be spent remembering them rather than struggling with the finances of funerals and fees.  Burial insurance for parents is simple and easy.