The high cost of local funerals and burials has alarmed a lot of local families, but a burial insurance policy in Missouri might provide the perfect solution. Because this type of final expense insurance pays in cash, beneficiaries are free to use the proceeds in any way they choose. Before purchasing burial insurance in Missouri, it is important to learn more about this product to make the right choice. We can help you find the best life insurance for seniors, younger adults, and even children. Start comparing prices and plans by typing your home ZIP code into the quote box at the top of this page. We are also eager to answer your questions by phone, and we invite you to call and speak with an experienced agent.
Burial Insurance in Missouri Statistics
- Expected life span: 76.52
- Average household income: $47,333
- Typical cost of a MS funeral and burial: Approximately $8,400
- Typical cost of a MS cremation package: From $795 to $2,400
- Kansas City population: 459,787
- St. Louis population: 319,294
- Springfield population: 159,498
- Independence population: 116,830
- East Independence population: 110,675
These days, cremation has become much more popular than it used to be, but most people still choose a traditional burial with a grave and vault. Funeral insurance provides a way for seniors and their families to make certain that they will have enough cash to make funeral arrangements of their choice.
How Much Does a Burial Policy Cost?
As with other life insurance for seniors, burial insurance companies determine prices mostly by health and age. It is possible to find companies that accept applicants of all ages, from birth to over 80, but relatively healthy and younger people will get offered lower rates. These are some example monthly prices for a Missourian who is a male, 68, and does not use tobacco:
- $5,000 face value: $39.58
- $10,000 face value: $75.83
- $15,000 face value: $112.08
Adult children are free to pay the premium for their elderly parents, but they must involve their parents in the application process. Also, it is most convenient to set up payments with an ACH that is charged monthly against a bank account.
How Do Missouri Guaranteed Acceptance Life Insurance Plans Work?
Before you start comparing different companies, it is important to note that there are two basic kinds of burial policies in Missouri:
- Guaranteed acceptance life insurance plans: These do not ask any health questions on the application, so they might be a good choice for applicants with serious medical issues.
- Simplified issue: There are a few health questions, but they accept most relatively health seniors, and they will be cheaper.
Even senior citizens who manage chronic health conditions, like high blood pressure, can generally get accepted for a simplified issue plan. With a guaranteed issue plan, the insured person has to survive a waiting period that might be two or three years before the company will pay the entire death benefit. If the insured person dies before that waiting period ends, the insurer might either pay the beneficiaries part of the total amount of premiums or part of the total death benefit.
Compare Missouri Funeral Insurance Online or Over the Phone
We want to help you find the best policy for you or your family. You can begin comparing different companies in your city or town by getting price quotes right here on this website. If you need more help, you are always welcome to call us with your questions. Our personal service helps our clients find the right burial insurance companies.