Identification

• Burial insurance is usually referred as a whole life insurance policy with death benefits. This is usually a separate policy from your life insurance policy and specifically covers funeral and burial costs. To purchase a policy, you may have to answer a few health-related questions, but usually no examination is needed.
  
  

Features

• Burial insurance can be very cost efficient and affordable for your entire family. You can make premium payments weekly or monthly. Sometimes the premiums are collected at the policy owner's home or work and are collected in very small increments. The small burial insurance premiums range in cost, depending on the policy holder's age and the amount of the payout.
  
  

Types

• There are a couple of types of burial insurance. You may buy the typical burial insurance policies through a trusted broker or an insurance agent. In some states, you can even purchase burial insurance through a funeral home. When purchasing burial insurance, you have the option of purchasing burial insurance for yourself or your entire family. Another form of burial insurance is called "pre-need." This is not actual burial insurance but another way of approaching the situation in a cost-efficient way. Pre-need is basically pre-paying for a funeral. Pre-paying for a funeral includes picking out a casket or cremation services, the funeral home services, flowers, headstones, burial plot or plots, opening and closing the grave site and any other services you may want.
  
  

Types

• Purchasing burial insurance when you are at a younger age may feel a bit morbid. However, if you have a family depending on you, it's one of the smartest things you can do. There's nothing worse than leaving a family behind unprepared for a future if they were depending on you to help them. Having a life insurance policy is a great idea, as it will provide for the family for years after your death. Purchasing burial insurance will pay for the funeral without the family tapping into the life insurance policy.
  
  

Benefits

• The benefits of having burial insurance include peace of mind for your family. Knowing that you took care of everything before you died is the best way to show your family that you loved and cared for them. It also gives you a sense of control, knowing that your funeral or cremation services are already taken care of and you can have the funeral you wanted.