What does Burial Insurance mean? Read on to discover the definition & meaning of the term Burial Insurance - to help you better understand the language used in insurance policies.
Burial insurance is a type of whole life insurance policy meant to help buyers pay funeral expenses of the insured. As a policy with the specific purpose of covering the aforementioned expenses, the death benefit tends to be much smaller, with it ranging from $3,000 to $35,000; thus, it is much more affordable. Moreover, it is much easier to obtain than other term and whole life policies.
We hope the you have a better understanding of the meaning of Burial Insurance.