A Funeral Insurance Company can help you with the costs of a funeral. Unfortunately, some of these policies do not cover pre-existing medical conditions and charge upwards of 150% more than they would otherwise. If you have any of these conditions, then you should look elsewhere for funeral coverage. A few tips to help you decide on a funeral policy include having a financial emergency and the amount of time you have to wait for it to begin.
Never Purchase A Policy Based Solely On Your Health
Depending on your health, age, and the type of policy you select, the cost of a funeral insurance policy can be considerably different from other types of insurance. For example, a guaranteed issue policy will not consider your health when determining premiums, but it can be more expensive than an underwritten policy for those who smoke. However, you should be aware that you should never purchase a policy based solely on your health. A policy for a 65-year-old smoker will cost a lot less than one for a 65-year-old non-smoker.
Before buying a funeral insurance policy, make sure to research the company’s financial strength and reputation. A good source of insurance company ratings is A.M. Best. These ratings take into account a company’s stability and ability to meet financial obligations. Companies with top ratings are usually trustworthy. Make sure to request several quotes before deciding on the policy that best suits your needs. If you’re uncertain about which company will provide the best coverage, you can request an online quote.