Funeral insurance is important for people looking to ensure that all of their funeral and burial expenses are taken care of in advance of their passing, relieving their loved ones of the burden of their final arrangements.
Funeral insurance covers only the expenses related to the policyholder’s burial and funeral, and is usually unnecessary if the individual also has life insurance. Policies can be set up with a family member or a funeral director named as the beneficiary, or as part of an agreed-upon contract with a funeral home.
State Farm: Best rated
State Farm is one of the larger companies when it comes to funeral insurance. It offers benefits such as $10,000 of coverage for your funeral. Reports routinely put State Farm as one of the top companies when it comes to funeral insurance.
AFBA: Best for customer satisfaction
AFBA’s policy details include sending 50% of an insured’s death benefits to beneficiaries within 24 hours of being notified of a death. Premiums will never go up for the life of the policy, and benefits will also never decrease. A.M. Best rated the company’s financial strength at A-, and customer satisfaction remains steady.
Lincoln Heritage: Best overall coverage
Lincoln Heritage leads the pack when it comes to funeral insurance. It doesn’t require a physical examinations and offers a wide age range that it is willing to cover. Rates and benefits are locked in, so they will never change on you unexpectedly. Its prices are among the best in the industry.
Foresters: Best for tailored coverage
Foresters is above average overall for what it provides. No physical exam or credit check is required, and it also ranks highly in customer satisfaction. It fits a plan to match you and your loved ones.
Columbian Financial Group: Best price
Columbian Financial Group offers insurance to people looking to plan ahead. The plans are made to be flexible to accommodate life changes, such as moving to a new area. Its rates are very good, with premiums that will never increase and benefits that will not decrease, regardless of age or health. The cost for your funeral is fixed, no matter how prices may change.
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