Why Do You Offer Burial Insurance And Life Insurance Quotes? What Is The Difference
All policies aim at benefiting the insurer. It is necessary to understand each and every policies before you decide to foray in it. Burial Insurance and Life Insurance both are different in their nature and functions. Burial insurance is mainly targeted at senior citizens is a type of life insurance mainly for burial and funeral expenses. Life insurance is a policy in which the money is given at the end of the policy period in return for a premium paid yearly or half yearly.
It is necessary to get quotes from different insurance companies for burial as well as life insurance. Quotes may differ from company to company and plans to plans. A quote is offered so that you know your estimated expenses and what all expenses need to take in to consideration while buying a policy.
However when you are looking for burial and life insurance policies, there are lots of differences.
Benefits:
It is necessary to get quotes from different insurance companies for burial as well as life insurance. Quotes may differ from company to company and plans to plans. A quote is offered so that you know your estimated expenses and what all expenses need to take in to consideration while buying a policy.
However when you are looking for burial and life insurance policies, there are lots of differences.
Benefits:
- Burial Insurance: This insurance comes in handy in your final journey. This includes cremation, funeral and other related expenses such as flowers, coffin, cemetery, limousine, hearse among such.
- Life Insurance: Life insurance is a contract between insurer and the company stating that the company will pay the policy holder a lump sum amount in the event of the death.
- Burial Insurance: This insurance is designed for the purpose of burial, so it does not expire. It is valid till you die.
- Life Insurance: This insurance is valid till the date proposed in the agreement. There is permanent life insurance and temporary life insurance. Permanent life insurance is valid for your life time, whereas temporary life insurance is valid for a certain amount of period.
- Burial Insurance: Burial insurance, also called as funeral expenses covers all expenses which are needed for a burial. The entire policy amount will be utilized at the time of burial.
- Life Insurance: Life insurance has a cash value. You can get part amount after particular years as per the policy terms. Life Insurance can also be used as a collateral security when you apply for loans.