You may hear from your friends, family, neighbors, or even Alex Trebek that you need burial insurance. If you think you do, it is important that you know the types of burial insurance available. There are so many kinds and types. In this article, we discuss the various types of burial insurance, so you can make an informed decision. First, we will discuss what burial insurance is, and then discuss the types available.
There can be many options, and those options depend on your health situation. There are also low-cost burial insurance options and ways to protect your burial insurance if you need to go into a nursing home. We will discuss those options as well.
According to the Mayo Clinic, there are 3 million new cases of Alzheimer’s disease each year. This condition is tough on families and loved ones. If you or a family member have Alzheimer’s disease, you probably think that you can’t obtain burial insurance. That is simply not true. Sure, there might be life insurance carriers that decline you, but there others that won’t. You just need to know where to look and the right type. Whether you were just diagnosed with dementia or Alzheimer’s disease, or you are looking for someone else, burial insurance is available.
You were declined for life insurance. The agent says your only option is a guaranteed issue life insurance policy. But, the policy has a waiting period. You don’t like that. You want a guaranteed issue life insurance policy with no waiting period.
Being declined for life insurance feels like a right hook to the face. You just completed a life insurance application, something on your “to-do” list for a while. You feel good about it. Then, a week or two goes by, and you don’t hear anything.