Let’s talk about affordable burial insurance in New Hampshire so you can choose the best option for you and your family.
You might think, “What does burial insurance have to do with my family and me?” But if you’re reading this, there’s a good chance you have someone in your life who is at risk of passing away soon.
You probably wouldn’t feel comfortable if you weren’t sure how to handle their final expenses and the costs of burying them.
This article will help you learn more about New Hampshire burial insurance, its types, and how to get it.
Easy Article Navigation
What Is Burial Insurance In New Hampshire?
Burial Insurance In New Hampshire is a life insurance policy designed to cover the costs of your final expenses, like funeral costs and medical bills.
It is an essential part of your financial planning, as it ensures that your loved ones will not have to bear the burden of your funeral costs.
Many types of affordable burial insurance policies are available; choosing one will depend on your individual needs and budget.
Some policies will cover the costs of your funeral and burial expenses, while others will only cover a portion. Therefore, shopping around and comparing different policies is vital before making a decision.
If you are a resident of New Hampshire, you may be wondering if you need burial insurance. The answer is that it depends on your circumstances.
For example, you may consider purchasing a policy if you have a large family or are the primary breadwinner.
Most people choose burial insurance when they are younger and in good health because it’s often cheaper than getting life insurance later in life.
Why Do I Need Burial Insurance In New Hampshire?
No one likes to think about their death, but it’s essential to be prepared for the worst.
If you don’t have burial insurance and you pass away, your loved ones will be responsible for covering the costs of your final expenses.
These costs can add up quickly, and your loved ones might not have the money to cover them. It can put a lot of financial strain on your family at an already difficult time.
With burial insurance, you can rest assured knowing that your loved ones won’t have to worry about how they will cover the costs of your final expenses.
What Are Types Of Burial Insurance In New Hampshire?
There are two main types of burial insurance policies available in New Hampshire:
Term life insurance
Term Life insurance policy provides coverage for a limited time, usually ten or twenty years.
These policies are standard in New Hampshire because they are cost-effective and simple and because most residents do not anticipate needing life insurance forever.
You can add the cost of supplemental policies to term life insurance. For instance, “critical illness insurance” can be added to cover the possibility of having a heart attack, cancer, stroke, or another medical emergency during the policy period.
Whole life insurance
In the event of your death, your family will be able to replace your family’s income, pay for their education needs, and provide a safety net for them.
Insurance policies that don’t expire are called permanent life insurance. It includes “accidental death insurance” and “whole life insurance.”
Unlike term policies, the cash value of whole life insurance policies accumulates tax-free over time.
As a result, whole life insurance will cover an insured individual as long as they live, with savings that will grow at the agreed-upon rate.
Different types of whole life insurance policies are available, like “universal life” and “variable universal life.”
Simplified issue whole life
Is the same as funeral, final expense, burial, and cremation insurance. Most have a coverage range of $2,000 to $25,000.
They have 3 types of rating classes:
- Guaranteed Issue
Universal life insurance
A type of whole life insurance that allows you to adjust your coverage amount as your needs change.
Variable universal life insurance
A type of whole life insurance that invests your premium payments in different investment options.
Both policies can be a good option for people who want more flexibility than a traditional whole-life policy offers.
A local life insurance company in New Hampshire, such as InsuranceForBurial.com can help you determine what type of policy you need to protect your family.
In addition to providing a life insurance quote, we will guide you toward the right policy based on your financial well-being goals.
👇Take a break, see what our clients are saying about us👇
How Much Does Burial Insurance Cost In New Hampshire?
The cost of burial insurance depends on a few factors, like your age, health, and the amount of coverage you want.
Age: The older you are, the more expensive your policy will be. It s because you are more likely to pass away as you age.
Health: If you have health conditions that could shorten your life expectancy, your policy will likely be more expensive.
Coverage amount: The more coverage you want, the more expensive your policy will be.
Burial Insurance Cost For Females
|Age of Applicant
Burial Insurance Cost For Males
|Age of Applicant
The New Hampshire Life Insurance Regulations
Each state has differing life insurance laws. For example, New Hampshire’s life insurance policies have specific rules and regulations regarding payouts, cash value, and timing.
Free Look Period
If you are unsatisfied with your new New Hampshire life insurance policy within ten days of buying it, you can return it for a refund. This “free look” period allows you to change your mind without penalties.
- Policy Cancellation: You have the right to cancel your New Hampshire life insurance policy at any time. However, if you cancel within the first year of your policy, you may not refund the entire amount of your premiums.
- Cash Value: The cash value of your New Hampshire life insurance policy will grow tax-deferred.
- It means you will not have to pay taxes on the growth of your cash value until you withdraw it.
- Withdrawals and Loans: You can take a loan from your New Hampshire life insurance policy’s cash value. However, if you do not repay the loan, it will deduct the amount of the loan from the death benefit that your beneficiaries will receive. You can also make withdrawals from your policy’s cash value. However, withdrawals will reduce the death benefit that your beneficiaries will receive.
- Timing: New Hampshire life insurance policies have a “contestability” period of 2 years. The life insurance company can refuse to pay the death benefit if the policyholder dies within the first two years of the policy.
The life insurance company can also investigate the circumstances surrounding the death to determine if it was due to suicide, natural causes, or other factors.
New Hampshire has a minimum grace period of 30 days. If you file a death claim within the grace period, even if your premium payment is late, the insurance company cannot deny your claim.
However, your family must seek a payout within a month (30+ days).
If an insurance company goes out of business or declares bankruptcy, New Hampshire is legally required to pay life insurance payouts to families.
Death benefits are limited to $300,000/person, while cash surrender benefits are limited to $100,00.
Average Life Expectancy In New Hampshire
According to the Centers for Disease Control and Prevention (CDC), the average life expectancy in New Hampshire is 79.7 years.
New Hampshire has one of the best life expectancy rates in the nation, with an average life expectancy of 15th.
It is due to several factors, including the state’s low tobacco use rate, high access to healthcare, and low poverty rate.
How to Get the Best Burial Insurance Rates In New Hampshire
There are a few things that you can do to get the best burial insurance rates in New Hampshire.
First, quitting smoking will immediately reduce your premiums if you are a smoker.
Second, make sure that you are in good health.
If you have health conditions that could shorten your life expectancy, disclose them to the life insurance company.
Third, shop around and compare quotes from different life insurance companies.
Each life insurance company has different underwriting guidelines, so you will likely get additional premium quotes from each company.
Fourth, work with an independent insurance agent who can help you compare quotes from different life insurance companies.
An independent insurance agent is not tied to any one life insurance company, so they will be able to give you unbiased advice and help you find the best policy for your needs.
What Makes InsuranceForBurial.com Different From Other
We will be pleased to earn your business if you need burial insurance. We can assist you in a manner you won’t find anywhere else, and we can help you.
If you live in New Hampshire and need burial insurance, here are the reasons you should hire us:
- Access to multiple insurance companies operating in New Hampshire allows us to offer final expense insurance as an independent agency specializing in final expense insurance. Ultimately, we will shop and compare all the different insurance companies to find the one that will provide you with the best price. We only care about doing the best thing for you, not which insurer it is.
- Our experience over the years has enabled us to assist thousands of families. Our underwriting knowledge is second to none due to this wealth of experience. Knowing which insurance companies will accept your health conditions is vital to finding low premiums and coverage without waiting periods.
- Our company is committed to serving you. We are not affiliated with insurance companies at all. We don’t work for them at all.
Get a Quote
If you are looking for burial insurance in New Hampshire, we can help.
We are an independent insurance agency that works with multiple life insurance companies. It allows us to compare quotes from different companies and find the best policy for your needs.
If you want a quote, enter your zip code in the box above, and we will show you the burial insurance policies available in your area.
If you have any questions or want help comparing quotes, don’t hesitate to contact us; we will be happy to help.
Other related burial insurance topics: