Life Insurance vs Burial Insurance

Life Insurance vs Burial Insurance

You may have seen or heard ads on television or radio discussing the benefits of burial insurance. These ads sometimes feature older celebrity spokespeople who appeal to the senior audience of which they are targeted. So, what is burial insurance and does it differ from life insurance?

Origins of Burial Insurance

Believe it or not, burial insurance traces its roots back centuries, when the Greeks and Romans had burial “clubs” where members could pool resources to take care of the burial needs of its members and their families. Many of these clubs were created for those with few financial resources. Eventually, responsibility for burial expenses became more individualized and burial insurance was created. Burial insurance was designed just to cover the direct expenses involved with a burial. It was from this that life insurance evolved.

Evolvement of Life Insurance

Eventually, carrying just enough insurance to cover a burial evolved into more expansive life insurance policies. These policies not only covered burial expenses but could cover the costs of debt the deceased may have left behind. Today, life insurance can accommodate the costs of a college education, estate planning and even leave a financial legacy in the name of the deceased.

Burial Insurance Today

So why is the term “burial insurance” still used today, especially when targeting an older audience? Because many can relate to the days when life insurance was only used to cover burial expenses. Many can remember their parents paying five or twenty-five cents a week to an insurance company for burial insurance. Perhaps most importantly, many older Americans don’t have sufficient life insurance to cover much more than their final expenses. In many cases, at their age, securing anything more than “burial expenses” would be cost-prohibitive for seniors.

It is why securing life insurance while one is relatively young and healthy is so valuable. What a senior may pay for a few thousand or even just hundreds of dollars in coverage, a younger person may be able to acquire tens or even hundreds of thousands of dollars worth of coverage. Our independent insurance agents can show you how this works in real life. They can demonstrate how costs escalate for life insurance as people age. You can see for yourself why now may be the best time for you to assess your life insurance needs.

Contact our independent agents for a no-obligation life insurance quote today. We look forward to assisting you.


Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder

Buzz Your
Insurance Agent

Search for a local agent with our agent finder map.

Agent Finder

Search All Blogs

Search
Generic filters
Exact matches only
Search in title
Search in content
Search in excerpt

Buzz Your
Insurance Agent

Search for a local agent with our agent finder map.

Agent Finder

Want to learn more about
our blog writer?

Read more about KayLynn's background.

Search All Blogs

Search
Generic filters
Exact matches only
Search in title
Search in content
Search in excerpt

What is Decreasing Term Life Insurance?

Is Decreasing term Insurance Right For You? Would You Know?

Three Ways Life Insurance May Help Pay For College

How Life Insurance Can Play a Role in the Education of Your Child

Life Insurance as a Gift

Who Do You Know that Can Benefit?

What it Takes to Qualify as a Beneficiary

Do you have the right person as the beneficiary on your life insurance policy? Here’s who you should consider and when you may want to consider a change.

Unique Benefits of Life Insurance You May Not Be Aware Of

There’s More to Life Insurance Than You May Realize

What You May Need to Know About Filing a Life Insurance Claim

Filing a life insurance claim can be a relatively smooth, hassle-free process when you know the steps to take. Learn more in our latest blog.

When Should I get Life Insurance on My Child?

Reasons to Get Life Insurance on Your Child ASAP.

Beyond Life Insurance: Other Death Benefits for Which You May Qualify

There May Be Multiple Resources for Benefits Upon the Death of a Loved One

Situations When Term Life Insurance May Be the Best Solution

Term Insurance is a Flexible and Affordable Choice

What is “Double Indemnity”?

Life Insurance Can Have Confusing Terms. This Should Not One

Leave a Comment