The rising cost of funerals and burials has caused a lot of Tennesseans to rethink they way that they prepare for funerals. Burial insurance provides a convenient and usually affordable way for seniors and their adult children to financially prepare for the cost of funeral arrangements, burials, cremations, and other final expenses that occur after a loved one passes away. However, there is not one best funeral insurance plan or company for every person. Let us help you shop the market for the best burial insurance plans in your local area. You can start online by keying your ZIP code into the quote box on this page. If you would like to speak with an agent, pick up the phone and call us.
Burial Insurance for Seniors: Tennessee Quick Facts
- Expected life span: 75.2
- Average household income: $44,140
- Typical cost of a funeral and burial: According to the Knoxville News, about $7,800
- Typical cost of a cremation package: About $1,600
- Memphis population: 646,889
- New South Memphis population: 641,608
- Nashville population: 530,852
- Knoxville population: 178,874
- Chatanooga population: 167,674
The Cost of a TN Burial Policy for Seniors
Burial insurance companies price final expense insurance based upon the health, age, and location of the person who will get insurance. While the burial insurance rate also depends upon the company, these are typical sample rates for a Tennessee woman who is 65 and does not smoke:
- $5,000: $26.81
- $10,000: $51.01
- $15,000: $75.21
Please note: These rates are just samples, and they could vary because of underwriting, location, or company. While rates are kept reasonable for many senior citizens, some families also offer to pay the premiums for elderly parents. Regardless of who pays the bills, most families decide to set up an ACH debit out of a bank account to make sure the policies don’t lapse. Also, the applicant does need to get included in the application process by agreeing to answer a few questions on the phone or by signing a form.
Will Tennessee Burial Insurance Companies Accept Everybody?
Almost anybody, from middle-aged people to folks over 80 can find a burial policy. It is always important to shop a little to find the right plan for each individual. It might be helpful to learn a little about the basic choices:
- Guaranteed acceptance life insurance: This kind of burial policy does not need the applicant to answer any health questions at all. However, that person might need to survive a waiting period before the policy will pay the full face value. Before that, the company might offer to return all payments or even pay a portion of the full face value.
- Simplified issue: These do require the answers to a few health questions, but they are still set up to accept reasonably healthy people. With this type, premiums should be cheaper and benefits are immediate.
Compare Tennessee Funeral Insurance for Yourself or Your Parents
While everybody hopes to find a cheap price, it is also important to consider benefits and the reputation of the company. We provide an online tool that provides quotes from top companies in your local area, and you only need to give it your ZIP code to get started. If you need help enrolling or simply have some questions, you can phone us and ask to talk to an experienced agent. By offering Internet tools and service from licensed agents, we work hard to help our Tennessee clients find the right solutions.