Anybody who has ever had the unfortunate duty of planning a funeral in this state knows that funeral arrangements, cemetery plots, and other final expenses can add up to several thousand dollars in bills. Some senior citizens or their families buy burial insurance in South Carolina to be sure they are prepared for these expenses. The good thing about a burial policy for seniors is that the policies pay out the death benefit in cash, and this money can get spent or saved in any way the beneficiary chooses. Would you like to learn more about final expense insurance? You can compare burial insurance quotes by using the quote tool on top of this page. Simply provide it with your ZIP code. Also, you are free to call us if you have any questions about burial insurance in South Carolina.
Statistics for Funeral Insurance and Funerals in South Carolina
- Expected life span in SC: 75
- Average household income: $44,623
- Typical cost of a South Carolina funeral and burial: About $7,000
- Typical cost of a South Carolina cremation package: About $2,000
- Columbia population: 129,272
- Charleston population: 120,083
- North Charleston population: 97,471
- Mt. Pleasant population: 67,843
- Rock Hill population: 66,154
How Much Do SC Burial Insurance Companies Charge?
Most families find rates affordable. In some cases, elderly parents pay for their own funeral insurance, but in other cases, adult children offer to pay premiums. It is very convenient to set up automatic payments from a checking or savings accounts, and some companies might even let you put it on a credit card. No matter who pays for final expenses insurance, the person the insurance is taken out for does need to participate in the process. This could simply consist of a sort phone interview. These are some example monthly prices for a 52-year-old SC man who doesn’t smoke:
- $5,000 death benefit: $16.52
- $10,000 death benefit: $30.84
- $15,000 death benefit: $45.15
Please note that these are only sample prices, and they could change because of underwriting and company. However, once you lock in a rate, it will stay the same for life.
Who Qualifies for a Senior Burial Insurance?
When these policies are marketed to seniors, they usually accept applicants from about 50 to 80 years old. You might find some companies that accept applicants over 80. There are two basic types of burial plans:
- Guaranteed acceptance life insurance: These do not require the answers to any health questions on the application.
- Immediate death benefit: These may ask a few health questions, but they are still open to relatively health senior citizens.
Typically, immediate death benefit plans are cheaper, so it might be worth it to answer some questions about health. Also, the insured person will have to survive a waiting period of two to three years for guaranteed acceptance life insurance. Before that waiting period passes, the policy might only pay out a portion of the face value or offer to refund premiums. It is important to compare benefits and prices when you shop for a policy for yourself or your parents.
Find the Best SC Burial Policy Quotes Online or on the Phone
We can help you compare prices, benefits, and companies. Start shopping by typing your home ZIP code into the quote box on this page. If you would like to speak with a licensed agent, you are also welcome to call us. We strive to help each client find the best South Caroline burial policy for their family.