Why consider buying burial insurance in Alabama? Burial insurance, sometimes called funeral insurance or final expense insurance, provides a convenient and affordable way to plan ahead for the cost of a funeral and other end-of-life expenses. Paying for a funeral after a loved one passes away can add stress to an already unpleasant time. Buying a burial policy ahead of time ensures that there will be money to cover expenses, and there might even be cash left over to use in any way the beneficiary chooses. We want to help you compare final expense insurance to make sure you find the right level of coverage and price for yourself or your elderly parents. You can start comparing burial insurance in Alabama by entering your ZIP code in the form on this page. You are also welcome to call us at any time for help applying or to ask questions.
Burial Insurance in Alabama Statistics
- Expected life span: 74
- Average household income: $43,160
- Typical cost of a funeral and burial: About $8,000-
- Typical cost of a cremation package: $695 to $1,395
- Birmingham population: 212,237
- Montgomery population: 205,764
- Mobile population: 195,111
- Huntsville population: 180,105
- Tuscaloosa population: 90,468
Many middle income Alabama families are not prepared for the cost of a funeral these days. That might be one reason why almost 19 percent of Alabamans choose cremation over a traditional burial, but that is not the right solution for every family or their parents.
How Much Does AL Burial Insurance For Seniors Cost?
Meanwhile, burial insurance companies charge affordable rates for many families. Consider some sample prices for a 57-year-old female nonsmoker in Alabama:
- Typical $5,000 face value: $16.72
- Typical $10,000 face value: $31.23
- Typical $15,000 face value: $45.75
Sometimes seniors purchase these policies for themselves, but many adult children will offer to pay the premiums as the policy will actually benefit them. Since the death benefit gets paid in cash, beneficiaries are free to use any leftover cash in any way they see fit. They can save the money, spend it, or set up a college fund for the insured person’s grandchildren.
Is It Hard to Qualify for Alabama Burial Insurance for Seniors?
Burial insurance companies make it very easy to qualify for coverage because they are eager to court the business of senior citizens and their families. Typically, these policies are offered to applicants from about age 50 to about age 80. Some insurers even offer funeral insurance to people over 80. Some applications only ask a few health questions that are only meant to disqualify seriously ill applicants. Others ask absolutely no health questions at all, and any otherwise disqualified applicant can buy coverage. The only other qualification is usually age. The insurers that do not ask about health offer guaranteed acceptance insurance. However, this type of coverage does not pay out the death benefit right after issue. Instead, there is a waiting period that the insured person has to survive, and this waiting period might be two or three years long. If the insured person passes away before the waiting period ends, the beneficiary may get some part of the death benefit or get premiums refunded. If possible, it is better to answer a few questions for an immediate death benefit and somewhat cheaper rates. However, guaranteed acceptance plans might offer a good solution for seriously ill seniors.
How to Find the Best Burial Insurance Quotes
We offer both online quotes and personal assistance over the phone. You can use our online quote system 24/7, and you can also ask to speak with a licensed agent during business hours. We hope to offer the right combination of personal service and information to help our clients find an affordable burial policy.