If you are a senior, and looking for burial insurance in Chicago, you came to the right place.
If you’re a senior living in the lively city of Chicago, you’ve likely enjoyed deep dish pizza at Giordano’s, strolled along the Navy Pier, and cheered on the Cubs or White Sox a time or two.
But have you thought about how you can protect your loved ones from the financial burden of your final expenses?
Today, let’s talk about a subject many shy away from but is incredibly crucial: burial insurance. I will go over everything you need to know about burial insurance. Let’s dive in!
Table of Contents
Why Burial Insurance Matters
Nobody likes to think about the end of their lives, but the reality is, we all have a date with destiny.
The question is, how will our families manage financially when we’re no longer around?
Funeral expenses can be quite steep, and the last thing you want is for your family to worry about money while they’re mourning.
This is where burial insurance for Chicago seniors comes into play.
It’s designed to cover all your final expense needs.
And unlike traditional life insurance, burial insurance plans have lower face values, resulting in affordable premiums for seniors.
Senior Burial Insurance in Chicago: What’s Covered?
Typically, a burial insurance policy covers all funeral and burial costs, including a casket or urn, funeral director’s services, embalming or cremation, and cemetery plot.
But it doesn’t stop there.
Your policy can also take care of any final medical bills, personal loans, or credit card debts, sparing your family from shouldering these costs.
Plus, with Chicago burial cost coverage, your loved ones won’t need to make any hasty financial decisions during an already emotionally challenging time.
Secure your loved ones' future with burial insurance
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Choosing Your Burial Insurance Plan
Now, let’s talk about selecting the best plan.
Here are some factors to consider:
Coverage: It’s vital to choose a policy that covers all your potential end-of-life expenses. Remember, the aim is to lighten the load for your family, not add to their stress.
Budget: Affordable burial insurance in Chicago doesn’t mean compromising on quality. Always choose a plan that comfortably fits within your budget.
Reliability: Go with a reputable insurance provider known for excellent customer service and a track record of handling claims promptly and fairly.
Burial Insurance Cost in Chicago
Female
| 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 |
Male
| 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 |
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Retirement Funeral Planning in Chicago: Why It Matters
Retirement isn’t just about deciding whether you want to travel the world or spend more time with your grandchildren.
It’s also about planning for end-of-life expenses.
By planning ahead, you can lock in the cost of your funeral services at today’s prices, protecting your loved ones from the impact of inflation.
Sure, thinking about and discussing these matters can be uncomfortable.
But remember, it’s not just about you—it’s about sparing your family unnecessary hardship.
Average Funeral Price in Chicago, IL
DIRECT CREMATION
| Area | Average | High | Low | Rank |
|---|---|---|---|---|
| Chicago Metropolian Area (City (MSA)) | $2,411 | $6,045 | $785 | 88 (of 392 metros) |
| Illinois (State) | $2,552 | $6,045 | $695 | 11 (of 50 states) |
| National | $2,185 | $9,800 | $275 |
AFFORDABLE BURIAL
| Area | Average | High | Low | Rank |
|---|---|---|---|---|
| Chicago Metropolian Area (City (MSA)) | $5,085 | $8,120 | $3,475 | 159 (of 392 metros) |
| Illinois (State) | $5,295 | $8,695 | $2,850 | 15 (of 50 states) |
| National | $5,113 | $11,800 | $2,830 |
FULL SERVICE CREMATION
| Area | Average | High | Low | Rank |
|---|---|---|---|---|
| Chicago Metropolian Area (City (MSA)) | $6,805 | $10,779 | $3,265 | 49 (of 392 metros) |
| Illinois (State) | $6,697 | $10,779 | $3,265 | 12 (of 50 states) |
| National | $6,219 | $19,300 | $2,555 |
TRADITIONAL FULL SERVICE BURIAL
| Area | Average | High | Low | Rank |
|---|---|---|---|---|
| Chicago Metropolian Area (City (MSA)) | $9,503 | $13,160 | $5,710 | 32 (of 392 metros) |
| Illinois (State) | $9,176 | $13,160 | $5,710 | 9 (of 50 states) |
| National | $8,554 | $21,475 | $4,850 |
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FAQs
Is burial insurance different from life insurance?
While both provide a payout upon the policyholder’s death, life insurance is mainly for financial support for dependents, while burial insurance specifically covers end-of-life costs.
Why should seniors in Chicago consider burial insurance?
With the rising cost of funerals, the financial burden on your loved ones can be substantial. Burial insurance alleviates this burden, giving your family one less thing to worry about during a difficult time.
How do I choose the right plan?
Start by assessing your potential end-of-life expenses. Then choose a plan that provides enough coverage to meet these costs. A knowledgeable insurance advisor can guide you through this process.
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Conclusion
Choosing burial insurance isn’t just about financial planning; it’s an act of love for your family.
As Chicago seniors, we can protect our families from unexpected financial burdens by making smart choices today.
And remember, life isn’t just about the time we spend here, but also the legacy we leave behind.
So let’s ensure that our legacy is one of care, not a burden.
After all, we all want our final farewell to be as memorable as a sunny afternoon at Wrigley Field.
But without the right preparation, it could be as unpredictable as the Windy City’s weather.
So let’s prepare for a sunny day, shall we?
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