Cremation Insurance: Why You Should Give It Some Consideration

Cremation is a practice that has withstood the test of time. Unlike burial, which involves plenty of planning, it is a fast way to put a loved one to rest. It is no wonder, then, that more people are applying for cremation insurance.

Numbers indicate that more than half of the population in the USA would rather be cremated than buried. Cremation insurance is a top way to ensure that this wish is met.

If you are still not convinced that it is a worthwhile investment, or if you are not sure about it, we believe that you will find all the answers you need in the article below.

cremation urns

What is Cremation Insurance?

It’s in the name. It is basically a type of life insurance designed to pay for cremation costs after you pass on.

How Much Does Cremation Cost?

Ordinarily, cremation costs anywhere from $500 to $10,000. The figures can be more or less depending on how dedicated the funeral home is with preparing the body beforehand, whether you have a memorial service or not, and the kind of urn you get.

The state you reside in can also affect the cost. In New York City, the minimum price is $550 while in Nashville, it is over $1,200.

Before applying for a cremation insurance policy, please carry out some thorough research so you know what to expect. After all, cremation is a deep and personal decision that should be done according to how you want it.

Which are the Types of Cremation Services?

There are four main kinds of cremation services:

Cremation with memorial service, where a funeral service is held without the dead individual’s body being present. Cremation is usually performed a day or so after the death, and the memorial service occurs sometime after.

Donor cremation, where you will not pay a cent since you will donate your body to science. Being a donor allows you to provide fresh tissue to patients in need of help in various research projects.

Traditional cremation, which involves additional services such as viewing of the corpse and a funeral. Common add-ons to this conventional type of cremation are urns, a memorial service, and a headstone marker.

Direct cremation, where a funeral service collects your corpse and delivers your ashes to your loved ones in a container of your choosing.

Cremation Insurance Why You Should Give It Some Consideration

Benefits of Cremation Insurance

It Provides Flexible Payouts

Cremation insurance does not stipulate that your loved ones have to spend all the money on cremation. If, for instance, you receive a $20,000 policy and the funeral costs are only $10,000, your family gets to decide what to do with the rest.

Acceptance is a Guarantee

Unlike most life insurance policies that require you to submit to an examination or answer some medical queries, cremation insurance doesn’t need you to undergo any exam. The money is set aside for funeral costs and cremation exclusively.

If you are over 65, however, you may need to answer a few medical questions first.

It Offers Nonexistent or Lenient Underwriting

Most companies pay no attention to underwriting your policy. This means that you can receive cremation insurance even if you suffer from a health issue such as cancer.

Though these conditions will hinder you from receiving standard life insurance, you can solidify your loved ones’ financial foundation by getting cremation coverage.

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