Buying The Best Burial Insurance In Delaware In 2024
Written by Daniel Ray, Life Insurance Expert |
✅
Fact Checked by
Lisamarie Monaco |
Editorial Disclosure
In today’s world, everything comes with a price tag. From a simple daily commute to weekly grocery trips and monthly bills, living costs often feel overwhelming.
Even with so many expenses, however, most people still find ways to save money where they can.
However, there are some expenses that are almost impossible to cut back on, such as final arrangements after death.
Depending on your financial situation, the cost of burial can be more than you had planned for or even unachievable.
That is why those who are single or part of a small household needs to investigate affordable burial insurance in Delaware.
In this article, we’ll explain everything you need to know about burial insurance in Delaware, including how to get coverage and what it will cost you.
What Is Burial Insurance In Delaware?
Burial insurance is a type of life insurance that helps to cover the costs of your funeral and other related expenses. It is an essential type of insurance, as funerals can be costly.
In Delaware, burial insurance is not required by law, but it is still an essential type of insurance. If you are a senior over age 70 considering buying burial insurance, you should know a few things.
First, burial insurance is not the same as life insurance. Life insurance is designed to cover the costs of your family in the event of your death, while burial insurance specifically covers the costs of your funeral.
Second, burial insurance is offered by many different insurance companies. Therefore, when shopping for burial insurance, you should compare a few things, such as the coverage amount, the premium, and the benefits.
Finally, burial insurance is not expensive. On the contrary, it is often very affordable, especially compared to the funeral cost.
Overall, we will bring you the top carriers and products like Foresters. PlanRight final expense policy.
How Burial Insurance In Delaware Works?
Burial insurance in Delaware provides a death benefit to your beneficiaries that can be used to cover the costs of your funeral and other related expenses.
When you purchase burial insurance, you will need to name a beneficiary. This person or persons will receive the death benefit from your policy.
You will also need to choose the amount of coverage you want.
Burial insurance policies typically range from $5,000 to $35,000, but the coverage you need will depend on the cost of your funeral and other related expenses.
Once you have purchased your policy, it will remain in effect until you die. If you die while your policy is in effect, your beneficiaries will receive the death benefit from your policy.
They can then use the money to cover the costs of your funeral and other related expenses. Laws are basically the same in nearby Philidelphia.
What Does Burial Insurance In Delaware Cost?
The cost of burial insurance in Delaware will vary depending on several factors, such as your age, health, and the amount of coverage you need.
Age: Burial insurance rates are based on your age. The younger you are, the cheaper your policy will be.
Health: Burial insurance rates are also based on your health. You will likely qualify for a lower premium if you are in good health.
Amount of Coverage: The amount of coverage you need will also affect your premium. The more coverage you need, the higher your premium will be.
Here are some sample rates:
Average Burial Insurance Rates For Females
| Age | $5,000 | $10,000 | $20,000 |
|---|---|---|---|
| 40 | $10.40 | $20.79 | $37.20 |
| 45 | $12.51 | $22.61 | $42.01 |
| 50 | $13.75 | $24.23 | $44.86 |
| 55 | $15.45 | $27.60 | $51.58 |
| 60 | $18.04 | $32.71 | $61.80 |
| 65 | $22.11 | $40.77 | $77.93 |
| 70 | $28.22 | $52.88 | $102.15 |
| 75 | $37.28 | $70.94 | $138.27 |
| 80 | $50.41 | $97.50 | $191.66 |
| 85 | $67.50 | $131.66 | $259.99 |
| 89 | $132.83 | $262.32 | $521.31 |
| 90 | $151.59 | $299.77 | Not Available |
Average Burial Insurance Rates For Males
| Age | $5,000 | $10,000 | $20,000 |
|---|---|---|---|
| 40 | $11.19 | $22.38 | $44.05 |
| 45 | $13.49 | $25.92 | $48.50 |
| 50 | $16.30 | $30.55 | $57.48 |
| 55 | $19.58 | $35.76 | $67.91 |
| 60 | $23.48 | $43.49 | $83.37 |
| 65 | $28.79 | $53.97 | $104.34 |
| 70 | $36.67 | $69.78 | $135.95 |
| 75 | $50.41 | $97.30 | $190.99 |
| 80 | $68.75 | $134.16 | $264.99 |
| 85 | $90.83 | $178.17 | $352.84 |
| 89 | $172.08 | $340.82 | $678.31 |
| 90 | $178.76 | $354.11 | Not Available |
However, burial insurance is typically very affordable, especially when compared to the cost of a funeral. For example, a healthy 30-year-old man can expect to pay around $36 per year for a $20,000 policy.
It means that for less than $1 per week, you can have peace of mind knowing that your loved ones will not have to worry about the cost of your funeral.
Contact a life insurance agent or company today to get an accurate quote for burial insurance in Delaware.
How Much Burial Insurance Coverage Do You Need In Delaware?
The amount of burial insurance coverage you need in Delaware will depend on the cost of your funeral. The average funeral in Delaware costs between $7,000 and $10,000.
If you want your policy to cover the funeral cost, you will need a policy with a death benefit of at least $10,000.
Here are the average End-of-Life costs in Deleware:
End-of-Life Costs in Delaware
| Total Estimated Cost | $26,508 |
|---|---|
| Average Funeral Expenses | $9,479 |
| Average End-of-Life Medical Costs | $17,029 |
| Medical costs related to dying in Delaware average $17,029. Funeral expenses add up to $9,479 on average, but there’s no estate or inheritance tax. | |
Information courtesy of Go Banking Rates
However, you may not need a policy with a death benefit this high if you have other sources of money to cover funeral costs, such as savings or life insurance.
In general, it is a good idea to have a burial insurance policy with a death benefit that is at least equal to the cost of your funeral.
What Are The Benefits Of Burial Insurance In Delaware?
There are many benefits of having burial insurance in Delaware.
Financial Stability:
Burial insurance helps to provide financial stability in the event of a death. It can help you pay for funeral expenses.
It includes the cost of a burial plot, caskets, vaults, and other cemetery services such as perpetual care or upkeep.
Burial insurance also pays for burial plots in cemeteries that are not affiliated with a local government or religious organization.
Peace of Mind:
If you’re worried about being able to afford your final arrangements after you pass away, burial insurance could be the solution you need.
Many people feel more comfortable having this type of coverage when nearing death.
Because it gives them peace of mind knowing that their loved ones won’t be left wondering how they will pay for a funeral or burial plot after they pass away.
Inflation Protection:
Burial insurance can protect your assets from inflationary costs because it covers the cost of a whole burial plot and other related expenses.
At today’s prices for a period that may extend beyond your lifetime. It means you will pay less for these items when you need them — but what if no one is left to use them?
Never expires:
Burial insurance policies are designed to pay for the burial of the insured person, whether that person is still living or deceased.
They do not expire, so you can use them for as long as needed. If your loved one passes away, it could take some time before their loved ones are ready to bury them and pay for the funeral. Burial insurance can help with that cost.
Premiums are fixed:
Death benefits are set by the policy and cannot be changed without much work, including going through probate court in your state.
So If you need to cover an expensive funeral after someone passes away, you won’t have to worry about paying more than the amount of money stated in their policy (or more than they could afford).
Death benefits are fixed and level:
The death benefit is calculated based on age and gender, which will change depending on these factors and other factors, like how much coverage was purchased and how long it has been since you bought the policy.
No medical examination is needed:
No medical exam life insurance policies are available, but they tend to be more expensive than traditional life insurance policies.
The policy is canceled at any time:
Policyholders can cancel their life insurance policy at any time without penalty.
The Free Look Period
This period allows everyone to review their policy to ensure it meets their needs during the 10-day free look period for new policy sales and the 30-day free look period for replacement policies.
It is your right to refuse the contract if you do not like it. If you do, you will receive a full refund of the premiums paid.
There is no need to explain the reasons for your refusal, and your insurance company is required to refund your money.
There is no time limit on canceling your insurance policy so you can do so anytime. However, cancellations outside the free look period will not refund your premiums.
Delaware Average Life Expectancy
The average age of residents of DE is 78.5 years old.
Delaware ranks 31st overall out of all the states in the country in terms of life expectancy. If you live in Delaware, you won’t have to pay a higher rate than in Oregon or Hawaii.
You will be in line with Georgia and Virginia.
The bottom line is that you must act now regardless of your age. If you wait to get your insurance in place, it will cost more than expected.
Additionally, if you don’t have coverage, you can leave your family with a heavy financial burden if you die.
Common Causes of Death In Delaware
Delaware’s leading causes of death are:
- Cancer
- Heart Disease
- Accidents
- Stroke
- Chronic Lower Respiratory Disease
- Alzheimer’s Disease
- Diabetes
- Kidney Disease
- Influenza
- Septicemia
There are several ways to use burial insurance to pay for your funeral expenses should you die from any of the conditions listed above.
Also, burial insurance will pay your beneficiary a lump-sum death benefit when you die.
Accelerated Death Benefit Rider
As an added benefit, we can help you get an accelerated death benefit rider depending on the insurance plan you apply for.
In other words, if you are diagnosed with cancer and have a 12-month life expectancy. You can take a portion of your policy’s face amount for whatever you want.
For example, you can use it if you need to pay extra bills or prepay funeral arrangements in advance. Some states will require a signature for this rider, like Pennsylvania.
Accidental Death Benefit Rider
In addition to the accidental death rider that we offer with our policies, you can also add additional coverage if you are involved in an accident to your policy.
For example, if you purchase a policy with us for $20,000 and add the accidental rider for $20,000, your beneficiary would be paid $40,000 as a payout.
Simple Way To Find The Burial Insurance Plan
To get the best final expense policy, you must compare multiple offers.
You cannot purchase final expense insurance directly from the insurance companies. Instead, you must buy burial insurance through an agent or agency.
It doesn’t mean that it will be more expensive. Instead of managing their sales force, insurance companies distribute final expense insurance through agents.
Working with an independent agency representing at least ten different insurance companies is essential if you want to find the best final expense insurance in New York.
These agencies assess your health and your family members’ health conditions to determine which burial insurance companies can offer you coverage.
They then compare quotes from all these companies to determine which is the least expensive and can cover you the earliest.
When you have questions about your health, you go to the doctor. When you have questions about burial insurance, you talk to someone who works with that kind of insurance.
Why choose us?
In Delaware, burial life insurance cost-effectively covers major end-of-life expenses.
Our affordable life insurance services are an easy way to ease the burden on your family’s future if medical bills, funeral costs, or outstanding debts pose a potential threat.
You’ll discover the best options, compare the pros and cons, and select a plan that protects your family.
Throughout the process, our independent agents at InsuranceForBurial.com advocate on your behalf.
Our goal is to help you find the right policy for your needs and provide professional guidance.
With honest communication, clearly outlined plans, and a variety of options, we empower our clients to make an informed decision about life insurance.
If you already have Burial insurance, you can maximize your death benefits by adding a final expense plan.
A final expense policy is a good idea because you do not need a medical examination to qualify for it.
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FAQs
Burial Insurance in Delaware is a type of life insurance policy aimed at covering funeral and related end-of-life expenses specifically for residents of Delaware.
Generally, Delaware residents aged 50 to 85 are eligible, though some plans may have broader age brackets.
It typically offers lower coverage specifically for funeral costs and is easier to qualify for than traditional life insurance policies.
While the overall structure is similar to other states, Delaware may have specific regulations regarding policy terms and consumer protections.
Funeral costs in Delaware vary but can be significant, influencing the amount of coverage one should consider for adequate protection.
Most burial insurance policies do not require a medical exam, but applicants may need to answer some health questions.
Yes, non-residents can typically purchase burial insurance for someone in Delaware, subject to the policies of the insurance provider.
Claim processing times vary, but most are handled efficiently, often within a few days after the claim is filed and verified.
Some policies might offer additional riders or benefits, such as accelerated death benefits or specific provisions for Delaware residents.
It’s important to compare different policies, looking at premiums, coverage amounts, and any state-specific terms or benefits.
Conclusion
Burial insurance in Delaware is an affordable way to ensure that your loved ones are taken care of after you pass away.
Burial insurance is a type of insurance that helps pay for funeral costs. It can help your loved ones pay for your funeral after you die.
Get a quote today to see how affordable burial insurance can be.
