Affordable Low Cost Burial Insurance In Washington In 2024
Written by Daniel Ray, Life Insurance Expert |
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Fact Checked by
Lisamarie Monaco |
Editorial Disclosure
If you are looking for affordable low cost burial insurance in Washington State, grab your coffee and let’s begin!
As we age, our minds often become crowded with numerous concerns.
One worry that may loom large is the potential burden placed on your loved ones if an unforeseen event occurs and funeral expenses become unmanageable.
Burial insurance serves as a safeguard against this very scenario. It not only provides a financial safety net in case of unexpected circumstances but also ensures you don’t leave your family grappling with burial costs.
Unfortunately, many individuals find themselves without sufficient savings to handle the expenses of their final rites.
This predicament can prove particularly daunting if you reside in a rural area or belong to an income bracket that typically doesn’t anticipate these eventualities.
However, a ray of hope exists in the form of affordable burial insurance policies available for purchase right here in Washington.
In this article, we aim to enlighten you about the various types of burial insurance options at your disposal in Washington. Additionally, we’ll guide you in selecting the policy that best aligns with your needs.
Table of contents
What Is Burial Insurance In Washington?
In Washington, burial insurance serves as a specific form of life insurance. Its primary goal? To defray your funeral and burial costs.
But its benefits don’t stop there. Interestingly, you can also use this insurance to settle any other lingering final expenses. Think along the lines of unpaid medical bills or debts.
A vast array of burial insurance policies await your perusal. Naturally, the perfect fit hinges on your unique needs and financial capacity.
The road to acquiring a policy is twofold. You can either engage a life insurance agent or broker, or you can directly approach a life insurance company. Either way, peace of mind is just a policy away.
If you are a resident of Washington state, you may be wondering whether or not you need burial insurance.
The answer is that it depends on your individual circumstances.
If you have a large family and few assets, you may want to consider purchasing a policy to help your loved ones cover the costs of your funeral.
If you are single and have no children, you may not need a policy.
Why do you need burial insurance In Washington?
There are several reasons why you may want to consider purchasing a burial insurance policy in Washington.
One reason is that the cost of funerals and burials has been rising steadily over the past few years.
Currently, a modest funeral costs approximately $7,000- $10,000 but that figure is likely to increase between five and eight percent in 2017. In 2017, the average cost of burial services in America will increase by five to eight percent.
This figure only includes basic funeral services from the funeral home.
The fee does not include cemetery fees, headstone charges, body transportation, floral arrangements, compensation for missed work, and other costs.
Another reason to purchase burial insurance is to protect your loved ones from having to bear the burden of your funeral costs.
If you pass away without a burial insurance policy in place, your loved ones will be responsible for paying for your funeral and burial expenses.
Finally, burial insurance can give you peace of mind knowing that your final expenses are covered.
If you have burial insurance in place, you can rest assured knowing that your loved ones will not have to worry about how they will pay for your funeral and burial.
How Does Burial Insurance In Washington Work?
Depending on the type of policy you choose, the payout amount, and where you live, your final expense policy’s price will vary.
Other factors that influence price include your age, gender, health, and the insurance company you select.
Many companies offer annual or other flexible payment options for final expense or burial policies, but some require monthly payments.
It is possible to receive a death benefit payout and coverage if you pay your premiums for a specified time period.
For example, a 50-year-old man living in South Carolina will usually have to pay around $50.00 per month to receive a $10,000 death benefit.
There is a significant premium increase for women over 75 who live in California. These numbers are estimates only. Your actual rate may differ.
Other factors that may reduce your premium are answering health questionnaires or undertaking a medical exam.
Average Life Expectancy In Washington
According to the most recent data from the Centers for Disease Control and Prevention (CDC), the average life expectancy in Washington is 82.7 years.
This is slightly higher than the national average of 79.3 years.
If I live in Washington, do I pay more? If you are looking for life insurance in Washington, then the answer is no.
Rates for life insurance are the same in all 50 states with the exception of Montana (which has unisex rates). It does not mean that just because Washington ranks low in mortality among all 50 states means you will pay a higher rate.
Our only purpose in showing you Washington’s average life expectancy is to help you understand when people die.
If you want to be sure this final cost is covered for the remainder of your life, you need to take care of it right away regardless of your age. This way, your family won’t be left burdened by an unpaid funeral bill in the future.
Leading causes of death in Washington
Washington, DC’s leading causes of death (as of 2017) are as follows:
- Heart Disease
- Cancer
- Accidents
- Stroke
- Diabetes
- Chronic lower respiratory disease
- Alzheimer’s disease
- Homicide
- Flu/pneumonia
- Hypertension
It is possible to still get coverage from some insurance companies even with one of these serious conditions.
For instance, if you have heart disease, you may be eligible for a modified plan, but you must pay higher premiums and wait for a while.
The entire premium paid into the policy is returned to the insured if the insured passes away during this time.
Regardless of your current health condition, it is never too late to apply for a life insurance policy to help protect your family from the financial burden left behind if you pass away.
How Much Burial Insurance Do I Need In Washington?
We often see clients making the mistake of calculating their life insurance coverage based on a guess, or just trying to guess, without realizing what inflation could mean for the proceeds of their life insurance.
A good thing about working with an independent agent is the ability to sit down with you and analyze your needs in order to determine exactly how much coverage you need.
You need coverage depending on a number of factors. Here are a few examples:
- What is the number of children you have
- Earning potential in the future
- If you are married or not
- The potential earnings of your spouse in the future
- Both you and your spouse are of the same age
- How much debt you owe
- How many years of mortgage you have remaining
These are just a few examples, but as you can see, there is much to factor in when trying to determine how much life insurance you need.
When it comes to life insurance, there are two main types- term life insurance and whole life insurance.
Let’s look at burial insurance in your surrounding area:
Term Life Insurance
A term life policy
- With term life insurance, you are only covered for a specific period of time, or term.
- The most common terms are 10, 20, or 30 years
- Your premium is only guaranteed for the length of the term
- You can usually renew your policy at the end of the
Whole life Insurance
A whole life policy
- covers you for your entire life
- As long as you pay your premiums,
- you are covered
- The benefit amount is
- usually fixed, and does not change
- Your premium is also fixed, and will not increase as you age
Burial Insurance Cost In Washington
Females
| Age of Applicant | $5,000 | $10,000 | $15,000 |
|---|---|---|---|
| 50 | $12.86 | $23.06 | $33.08 |
| 55 | $14.97 | $26.94 | $38.90 |
| 60 | $18.04 | $32.87 | $47.70 |
| 65 | $22.11 | $41.01 | $59.91 |
| 70 | $28.07 | $53.12 | $78.18 |
| 75 | $37.81 | $72.41 | $107.01 |
| 80 | $50.82 | $98.43 | $146.05 |
| 85 | $69.55 | $135.90 | $202.25 |
| 90 | $149.69 | $296.41 | NA |
Males
| Age of Applicant | $5,000 | $10,000 | $15,000 |
|---|---|---|---|
| 50 | $15.37 | $27.73 | $40.08 |
| 55 | $18.72 | $34.43 | $50.13 |
| 60 | $22.72 | $42.42 | $62.13 |
| 65 | $28.41 | $53.82 | $79.22 |
| 70 | $36.47 | $69.93 | $103.38 |
| 75 | $50.22 | $97.43 | $144.64 |
| 80 | $71.44 | $139.73 | $207.99 |
| 85 | $97.97 | $192.74 | $287.51 |
| 90 | $176.59 | $350.21 | NA |
No Medical exam in Washington
To qualify for life insurance, you may not need to take a medical exam depending on your current or previous health conditions.
It is possible to find many companies that offer a guaranteed final expense insurance policy if you prefer to keep your health a secret.
This type of policy doesn’t require a medical exam, and it doesn’t require you to answer any questions about your health.
Due to the fact that insurance companies assume the risk of insuring someone without knowing their health, these are the most expensive plans available.
It is possible to purchase final expense life insurance without a medical exam from other insurance companies, such as Lincoln Heritage Life Insurance Company.
A few health questions are asked on the application to qualify for this type of insurance.
It is usually cheaper to buy these types of plans than to purchase guaranteed life insurance because the insurance company takes on less risk.
Washington Free Look Period
When you purchase a life insurance policy, you have 10-30 days to review the policy If you decide you don’t want it. You can return it. For a full refund Of your premium
This is called The Free Look period. If you have any questions about your policy You can also cancel during this time.
Any life insurance policy can be returned during this time, and any premiums paid must be refunded.
No insurer can lock you into a life insurance policy for any period of time after the free look period begins.
However, if you cancel after the free look period ends, you will not receive a refund of your premiums.
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What Are The Best Burial Insurance Companies In Washington?
The best burial insurance companies in Washington are those that offer the coverage you need at a price you can afford.
It is important to compare quotes from multiple companies to ensure you are getting the best possible rate.
Some of the leading burial insurance companies in Washington include AIG, Prudential, MetLife, and Northwestern Mutual.
- AIG: AIG offers a variety of final expense and burial insurance policies, including whole life insurance, term life insurance, and universal life insurance.
- Prudential: Prudential offers whole life insurance, universal life insurance, and term life insurance policies.
- MetLife: MetLife offers whole life insurance and term life insurance policies.
- Northwestern Mutual: Northwestern Mutual offers whole life insurance and universal life insurance policies.
When shopping for life insurance, it is important to compare quotes from multiple companies to ensure you are getting the best possible rate.
The best way to find affordable life insurance is to compare quotes from multiple companies. Comparing quotes from different companies is the best way to find affordable life insurance.
There are many factors to consider when shopping for life insurance, but the most important thing is to find a policy that fits your needs and budget.
The best life insurance companies in Washington offer a variety of policies at different price points, so be sure to shop around and compare quotes before making a decision.
How do I Find the Washington Burial Insurance?
The process of finding the best burial insurance in Washington doesn’t have to be challenging.
Many of our customers came to us after having difficulty finding an affordable last expense plan for their loved ones.
If this describes you, then don’t despair as you are not alone.
The burial insurance industry in Washington offers a lot of great companies.
Not every insurer operates in every state.
Our knowledge enables us to know which firms operate in Washington, and we know which companies offer quality affordable plans.
Here is how you can locate a company with the best final expense insurance.
By working with an independent agency that represents multiple burial insurance companies, such as BurialForInsurance you will be able to get the best burial insurance plan in Washington.
Our independence allows us to shop and compare prices with all of Washington’s top final expense insurance companies for you to find the best policy.
Our vast experience also allows us to understand the underwriting process in detail, which ensures we are able to match you with the right companies that will consider your health favorably, resulting in lower rates and an immediate protection.
Get information about burial insurance in Washington’s major cities in minutes with us if you prefer to get specific information.
Burial Insurance In Other Areas You May Want To know About
Conclusion
In conclusion, burial insurance is a good investment for anyone in Washington who wants to ensure that their final expenses are covered.
It is an affordable option for many people, and it can be bought for a low monthly price.
There are many different providers of burial insurance, so it is important to compare rates and coverage before buying a policy.
Get a quote today and buy burial insurance now to give yourself and your loved ones peace of mind.
