When it comes to insurance, no situation fails to be catered for. There's homeowners insurance, one of the more obvious insurance options; vehicle insurance, a necessity for drivers and car owners in many states, and medical insurance, an all-purpose protective asset that allows anyone in any state to ensure that they're protected from the expense of costly medical procedures and health scares.
Those are the more obvious forms of insurance – the type that everyone can see an immediate need for. Ill health is expensive, and medical insurance offers a way to satisfy the fear of being forced to pay a costly medical bill. Likewise, vehicle insurance is considered a necessity for most car owners, not just for its ability to offset risk, but due to the road insurance laws that many states now carry.
But what about the less common, and less immediately obvious forms of insurance? There's credit insurance, a service that protects you from having debts spiral out of control. Then there's pets and animals insurance, which provides veterinary care for pets and non-human loved ones. Finally, it's important to remember burial insurance – an important service that everyone needs to consider.
Burial insurance, while sounding somewhat morbid and unnecessary, is one of the most important forms of insurance out there. Often known, both colloquially and formally, as 'funeral insurance' or 'death insurance,' it's a service that everyone needs to own. Without a burial insurance policy, your death could result in a state-operated funeral that excludes your family, friends, and loved ones.
You wouldn't want that, would you? Death is a part of life that everyone needs to deal with, as there just isn't any way to avoid it. Alongside resveratrol and the laundry list of other life-extending craze products is a startling reality: we're all going to die one day, and we should be prepared. While most people know that their families could pay for a funeral, few would wish such an expense on theirs.
That leaves one option – or at least one financially viable option – burial insurance. As a frequently forgotten service, the burial insurance industry is one that many Americans are taking to with smiles and enthusiasm – feelings that aren't frequently seen by insurance salespeople. It's important that an elderly or sick loved one is cared for after their deaths, particularly by a valuable insurance plan.
While it certainly does sound morbid – most agents and insurance brokers agree so – the thought of buying burial or funeral insurance isn't one that puts people off. There's nothing more important in a human's life than dignity, and that dignity extends into death. A funeral needs to be respectful or the person's wishes – wishes that are often only made possible by a comprehensive insurance policy.
And given the expense of many funerals – often to the tune of five to fifteen thousand dollars – the availability and relative inexpense of burial insurance makes it a worthwhile choice. Families have been pushed into long-term debt, and occasionally bankruptcy, but the expenses that funerals could attract. An insurance policy, while a recurring expense, can protect them from this financial risk.
At least that's what most customers think as they sign the dotted line, often securing a policy that's worth anywhere from five to ten thousand dollars. From as little as two dollars weekly, a complete burial insurance plan provides financial security where it would otherwise be missing. It's the total coverage that many families long for, particularly when their children and spouses could benefit.
However, over the past few decades, the burial insurance industry has been hit by a string of major controversies and endless scandals. Racially discriminatory pricing was once an issue, with insurers providing coverage to African Americans at a heightened rate due to their heightened risk, as a large racial group, of falling victim to heart disease and other potentially lethal illnesses.
The same racial profiling extended into the salaries and household income levels of their potential customers. High-income families were offered insurance at, quite paradoxically, lower prices than their low-income peers. Companies again pointed to life expectancy and the general health of high-income individuals, claiming that they're less likely to require the expense early in a policy's term.
While these issues stained the industry throughout the later half of the 20th century, they're largely a thing of the past today. Burial insurance companies have dramatically changed their approach when it comes to finding and assessing customers, preferring to offer equally priced value from early in a client's life than expensive value for those of a certain ethnic background or household income rate.
That means that burial insurance, for the most part, is a service that's priced fairly evenly regardless of someone's social status, personal income, or lifestyle. Unlike term life insurance policies, which in some cases are less expensive than burial insurance itself overall, a burial insurance policy can be priced primarily according to the amount of time it's purchased for by the customer in question.
When bought early in life, a policy is fairly inexpensive, adding up to less than two dollars weekly for customers. When purchased further down the line – perhaps during middle age or later in their career – a burial insurance policy can be more expensive. In short, as with other forms of financial security, it's significantly less expensive to be a long-term player than it is to buy short-term service.
The industry has also changed its sales tactics, targeting customers with a soft sell that emphasizes the benefits of burial insurance, instead of the often-pushy tactics used by other insurers. Unlike a life insurance salesperson, for example, burial insurance uses salespeople that act more as a benefit and data provider, explaining how a policy can help rather than why it should be purchased.
Finally, the burial insurance industry appears to understand its importance. Consumers, the majority of whom need this service, appear to understand too. While burial insurance may not seem to be an essential expense, it's one that most people are comfortable dealing with. From as little as $2 every week, you and your family can know that their cared for with dignity in their final moments.