There is a type of senior life insurance, usually called funeral insurance or final expense insurance, that helps pay for burials and other final expenses. After a loved one dies, final expenses might include the funeral, unpaid medical bills, and any number of unusual bills. Many top companies offer burial insurance plans in Vermont, but it helps to learn something about this product before deciding which plan to buy. Do you need help finding burial insurance in Vermont? If so, we offer online senior life insurance quotes and personal service over the phone. To use our Internet quote system, you only need to supply your ZIP code. We are also happy to put a professional agent on the phone when you call.
Quick Facts About Vermont Final Expense Insurance
- Expected VT life span: 78.24
- Average household income: $54,168
- Typical cost of a funeral and burial: About $8,350
- Typical cost of a cremation package: From about $800 to over $2,000
- Burlington population: 42,417
- South Burlington population: 17,904
- Colchester population: 16,986
- Rutland population: 16,495
- Essex Junction population: 9,271
Besides paying for funerals and burials, a burial policy provides cash that the beneficiary can use in any way that he or she needs to.
How Much Does Vermont Funeral Insurance Cost?
Burial insurance companies charge a premium that usually varies because of the applicant’s age and health. Typically, these plans get marketed to people from 50 years old to over 80 years old. While insurers are not all the same, these are some example rates for a Vermont man who is 59 and does not smoke:
- $5,000: $21.02
- $10,000: $39.84
- $15,000: $58.66
Important: These are just example monthly rates, and they could change because of the insurer and the age and health of the applicant. Some seniors purchase burial insurance for themselves. In other cases, adult children offer to buy a burial policy for their parents. It doesn’t not matter who pays for it, but these are some tips:
- We always suggest setting up monthly payments through your checking or savings account to make sure the policy does not lapse.
- The individual who will get insured does need to get involved in the application process by taking a short phone interview or signing a form.
Is Guaranteed Acceptance Life Insurance Best?
Some companies advertise that they will issue policies without asking any health questions, and this might be attractive to people with serious health problems. Other companies ask a few health questions, but they still accept the majority of active senior citizens. Typically, you will qualify for cheaper rates and an immediate death benefit if you can answer a few questions. With guaranteed acceptance life insurance, the full death benefit will not get paid if the insured person cannot outlive a waiting period that might last 24 to 36 months. Before the waiting period elapses, the plan may only offer to return premiums, sometimes with interest, or pay a part of the death benefit.
Compare Vermont Burial Plans for Yourself or Your Elderly Parents
Find and compare local burial insurance companies by using our online quotes. You can find the quote form at the top of this page, and the system only requires your ZIP code to use. If you prefer personal assistance, call us to speak with an experienced agent. By offering great service and Internet quote tools, we help Vermonters find the best prices and benefits.