It’s always a challenging time for families when they lose a loved member of their group. Despite the rocketing burial expenses, most families across the US want to provide their departed ones with a decent farewell.
This means having to contend with steep funeral costs, which have increased over the last two decades. With a starting price of around $7,000, this substantial sum of money is beyond most families’ abilities.
Fortunately, with services such as the Gerber final expense policy, families can lessen the load associated with a member’s death. A quick look over the internet for burial insurance yields hundreds of results.
This is problematic for first-timers. How do you go about picking not only the best provider but, more importantly, the best offer? If you find yourself in such a situation, here are a few pointers on how to get the best deal.
● Be on the look-out for multiple quotes
Over the last two decades, the importance of burial insurance policies, like the Gerber final expense policy has rapidly increased. As a result, numerous insurance companies have come out to offer comprehensive deals to potential clients.
Make a point of going through all such insurance policies available within your locality. Compare their features and prices; this helps you pinpoint their pros and cons. Then list the ones that offer the most competitive package.
Additionally, consider getting in touch with independent insurance agents who may give you essential pointers that could aid you pick the right policy.
● Discounts to non-smokers
More often than not, non-smokers are liable to receive discounts while shopping for insurance policies. Insurance agents tend to combine both smokers and non-smokers into one category and offer them a similar quote.
So, if you don’t speak up and let them know that you are a non-smoker, they’ll place you into this category. From the get-go, point out that you don’t smoke; this way, you can receive a discount if there are any available discounts.
● Non-medical or traditional life insurance
Most traditional life insurance policies require applicants to undergo a medical assessment. Depending on the results, you will be given insurance health rating points. If you are sound of health, then you can expect the company to offer you the lowest premiums on offer.
If you have an underlying medical condition, the underwriter will formulate a policy based on the company’s guidelines to arrive at the best possible package.
On the other hand, if you go with a non-medical insurance policy, you have two options to pick from simplified and guaranteed life insurance.
In the case of a simplified insurance policy, the holder doesn’t have to undergo any medical exam. But, they have to answer a couple of health-related questions before the application clears.
With the guaranteed life insurance policy, you don’t have to answer any question or undergo a medical test. Despite this, please note that most guaranteed life insurance policies have a waiting period of two years.
Suppose the holder was to pass on within the first two years of the policy. In that case, the beneficiaries are liable only to receive the death benefits linked to the premiums’ returns and any accrued interest. So, check all these points before choosing the best policy that suits your needs.
