One sad reality that many grieving families face is that funerals and burials are very expensive. Furthermore, costs seem to go up every year. Many seniors and their families purchase burial insurance in New Jersey in order to make certain that they have plenty of money to plan a dignified funeral. The good thing about choosing this type of funeral insurance is that any cash that is left after making arrangements can be used by the policy beneficiary in any way that he or she chooses. Would you like to compare burial insurance in New Jersey in order to find the best plan for your own unique needs? You can begin by putting your local ZIP code into the quote form at the top of this website. Whenever you want more information, phone us and ask to speak with a licensed agent.
Quick Facts About New Jersey Final Expense Insurance
- NJ Expected life span: 77
- Average NJ household income: $71,637
- Average NJ Funeral/Burial Costs: Approximately $8,300
- Average NJ Cremation Package Cost: $800 to over $2,000
- Newark population: 277,140
- Jersey City population: 247,597
- Paterson population: 146,199
- Elizabeth population: 124,969
- Edison population: 102,548
Typical Costs of a New Jersey Burial Policy for Seniors
Typically, burial life insurance companies base their rates on location, health, and age. However, different insurers also charge different rates, and it is important to consider a company’s reputation and plan benefits as well as the price. For informational purposes, these are some typical monthly charges for New Jersey man who is 58 and does not use tobacco:
- $5,000: $20.23
- $10,000: $38.26
- $15,000: $56.29
Note: These sample rates are subject to underwriting, and they should just be considered as examples. Some seniors purchase these plans for themselves, but in other cases, grown kids will buy them for elderly parents. Either way, these are some helpful tips:
- Application: The individual who will get insured needs to participate in the process at the end. For instance, a short phone interview or signature could be needed.
- Payments: The most convenient option is to have funds drafted from a savings or checking account by automatic debits. This keeps policies from lapsing.
Is it Hard to Qualify for New Jersey Burial Policy for Seniors?
These plans are marketed to senior citizens and middle aged people. That means that most of them accept applicants from about age 45 to senior citizens over 80. While guaranteed acceptance life insurance does not require the answers to any health questions, some other types do ask a few questions about serious medical conditions. Typically, it is better for relatively healthy people to answer a few health questions because they can qualify for cheaper premiums and better benefits. With guaranteed acceptance life insurance, there is usually a two to three year waiting period before the policy will pay out the full death benefit. Before that, plans may offer to only return premiums or pay a percentage of the full death benefit.
We Can Help You Compare New Jersey Burial Insurance Companies
There is not one best burial policy for every client, and we would like to help you shop for the right one for yourself or your parents. We offer online quotes that only require a ZIP code entered in the box at the top of the web page. We also have licensed agents who are eager to answer your questions and help you enroll. By providing individualized service and Internet tools, we strive to help clients find the right New Jersey funeral insurance.