Looking for burial insurance in Ohio? Look no further, we have assisted hundreds of Ohio residents to find affordable coverage.
First and foremost, what is burial insurance or cremation insurance? It is life insurance coverage for final expenses also known as whole life insurance. They are just marketing names to make it clear what the product is used for. It provides a quick death benefit payout to your beneficiary when you die within 48 hours.
With this money, your beneficiary can pay the funeral home quickly and stay out of any potential debt that they would be responsible for.
According to cdc.gov
In this guide, we will cover everything you need to know about this coverage in the state of Ohio.
Related: Burial Insurance in America
Table of contents
- Understanding Final Expense Insurance in Ohio
- Burial Insurance in Ohio Costs Ages 19-91
- Best Final Expense Life Insurance Companies in Ohio
- Average Funeral Costs in Ohio
- Burial Insurance Underwriting
- Benefits of Burial Insurance in Ohio
- Example Health Questions
- Eligibility for Final Expense Insurance in Ohio
- How to Apply for Burial Insurance in Ohio?
Understanding Final Expense Insurance in Ohio
Final expense insurance(cremation, funeral, burial insurance etc.) is either simplified issue whole life coverage or guaranteed issue whole life coverage. Your current health will determine which type of life insurance you qualify for.
Funeral insurance is designed to cover the costs of burial, funeral, cremation and any other end of life expenses you leave behind to your family. Coverage amounts range from $1,000 – $50,000 depending on the life insurance company.
Final expense whole life is permanent coverage that never expires. It has level premiums(premiums never increase), level death benefit(death benefit never decreases) and cash value. Cash value is a savings that builds in your policy over time as you pay your premiums.
You can borrow against cash value for existing expenses while you are alive. The death benefit of your policy is tax free to your beneficiary. They use the money to pay your funeral and can keep any money left over.
Simplified underwriting means there are no medical exams for the burial coverage. In addition to this applicants with pre-existing health conditions have a chance to be approved for no waiting period coverage.
Burial Insurance in Ohio Costs Ages 19-91
We have included a table below showing the cost of funeral insurance in Ohio. You will see costs for burial insurance for young adults all the way to burial insurance for seniors over 80 up to age 90 life insurance costs.
|Age||$10,000 Male Non Smoker||$10,000 Male Smoker||$10,000 Female Non Smoker||$10,000 Female Smoker|
Best Final Expense Life Insurance Companies in Ohio
We have listed the best final expense life insurance companies in Ohio for seniors. Each company has great reviews and is highly recommended.
- Greek Catholic Union(GCU)
- Mutual of Omaha(MOO)
- Prosperity Life New Vista
- Transamerica Immediate Solution
- American Amicable Senior Choice
- Aetna Accendo CVS
- Royal Neighbors of America Whole Life
- Gerber Guaranteed Issue
- Guarantee Trust Life Heritage Plan
- AIG Guaranteed Issue
- Great Western Guaranteed Issue
Average Funeral Costs in Ohio
Funeral and burial expenses are the final largest expenses people will leave behind in their lifetime. This is why burial life insurance in Ohio was designed in the first place to protect families against funeral expenses.
According to us-funerals.com
The average cost of a funeral is $7,360.
The average cost of a funeral varies from state to state. The national average for burial is between $8,000 – $12,000 with inflation that would make it $15,000. This means your family will have to come up with $15,000 or more on average when you die. Do you think they can handle that amount of money? Even if they could do you want them to come out of pocket for it? The obvious answer is no.
Below you will see data on the cost of funeral services this is based on the average funeral cost in ohio. In addition to the average cost of funeral and burial in ohio you will see cremation pricing. You can also obtain a general pricing list from funeral directors at your local funeral home.
They can inform you of the service fee, burial plot and grave markers. Once you know exactly how much your funeral will be this will better assist you with getting final expense life insurance plans with us. Your family will then have the peace of mind they deserve knowing they will not have any loans or credit card debt put on them for paying for your funeral.
A cremation can be a much more affordable option with a national average of $3,000 – $5,000 with inflation included this would be $8,000 or more.
Furthermore, this is still a big financial strain even if it is more affordable than a traditional burial. Not many people have $8,000 laying around to burn. This is why we have helped so many clients find affordable funeral insurance to cover the costs of their burial so they and their families have peace of mind.
There are also other factors to consider like car payments, unpaid medical bills, mortgage balances, etc.
This is why when speaking with our agents you are going to want a policy that matches or exceeds the final expenses you calculate for yourself.
Burial Insurance Underwriting
Above all, these are simplified issue plans.
What this means is that you will never have to take a medical exam or blood test. The carrier will not make you do a physical or anything like that. They simply want to know your health issues and any prescription medications you may have. They will ask you questions pertaining to your health on their application and do a medical background check and prescription check.
If everything checks out you are approved right there over the phone within minutes. This process is quick and easy and you will have coverage within 30 minutes or less.
Furthermore, our agents are highly trained in the underwriting niches of these carriers. This is why we help 90% of our clients find affordable day one level coverage with no waiting period.
We have helped clients with COPD, CHF, Stroke, Heart Attacks, Heart Surgery, and much more get approved for level coverage. If you have any of these health conditions you may not need to settle for a waiting period. That being said in order to know for sure our agents would have to speak with you directly.
Your prescriptions are another factor however the carrier is only looking for major prescriptions like Donepezil, Emtriva, Nitro, Gabapentin to name a few.
Acceptable Medications Include:
- Benazepril hydrochloride
- Enalapril Maleate
- Fosinopril sodium
- Quinapril hydrochloride
Carriers are very liberal when it comes to medications but make sure you have a list of your medications when you speak with our agents so they can go over them with you and make sure there are no surprises.
Benefits of Burial Insurance in Ohio
Final expense life insurance offers a wide range of benefits to protect your family. In the table below you will find an extensive list of all the benefits this type of life insurance provides.
|Level Premiums||Burial insurance Premiums never increase for the life of the policy|
|Level Death Benefit||Burial Insurance Death benefit never decreases for the life of the policy|
|Coverage Never Expires||Policy never expires as long as premiums are paid|
|Cash Value||Premiums paid into the policy build an additional savings to the policy’s face amount that can be borrowed against|
|Tax-Free Death Benefit||The Death Benefit to your beneficiary is 100% tax free|
|Peace of Mind||Burial, funeral and cremation expenses are all covered which gives you peace of mind|
|No Medical Exams||No medical exams required to qualify. You only answer health questions.|
|Financial Security||Burial Insurance provides the money to pay your funeral costs so your family does not have the financial burden placed on them to pay burial expenses.|
|Easy Underwriting||Burial Insurance is easy to qualify for. Even seniors with moderate health conditions can get a low premium.|
|Instant Decision||Burial Insurance uses instant decision during the application process. This means when you apply you will receive a decision of approval or denial right after the application is submitted.|
Example Health Questions
Here are some example health questions you will see on the application. This is what our agents discuss with you on the call to make sure they get you qualified for the right burial insurance product in Ohio.
Furthermore, these health questions are aimed at time frames. The longer you have had conditions without any incidents the higher your chances are of approval.
Have you ever been diagnosed with:
- HIV or AIDS
- Diabetic Amputation or Insulin Shock
- Alzheimer’s Disease or Dementia
- Permanent Memory Loss
- Oxygen Tank Usage
- Currently Hospitalized
- Terminal Illness
In the past 2 years have you been diagnosed with:
- Heart Attack
- Congestive Heart Failure
- Hospitalized or in a nursing home
- Chrons Disease
- Ulcerative Colitis
- Lou Gherics Disease
- Systemic Lupus
- Sickle Cell Anemia
- Heart Murmur
- Heart Surgery
Those are questions that will be on most applications. The carriers look favorably at clients that keep up with their health and how it shows in their medical records. If you manage your conditions well then we will be able to get you the best rate and coverage.
Eligibility for Final Expense Insurance in Ohio
In the following list below you will find what is required by life insurance companies to determine your eligibility for final expense coverage.
|Age & Date of Birth||Your current age determines your eligibility with different policies. If you are older than age 85 for example a majority of life insurance companies will not offer you burial insurance.|
|Height & Weight||You current heigh and weight affect your eligibility with some life insurance companies because high risk health conditions are directly linked to obesity.|
|Resident State||Your resident state determines which plans are available to you. Some life insurance companies may not have their policies available in your state.|
|Current & Past Health History||Your health determines your eligibility for burial insurance. If you hav extreme current or a past history of health conditions such as cancer you are considered high risk and many life insurance companies may not accept you.|
|US Citizenship||You must be a US citizen or permanent resident to buy burial insurance in the United States. If you are a citizen of a different country you are not eligible.|
|Current Medications||Your current medications indicate to the life insurance company how your health is. This is how they can categorize you as a high risk applicant or not.|
|Criminal History||A criminal history indicates if you are a high risk. If you have an extensive criminal record life insurance companies will not accept you.|
How to Apply for Burial Insurance in Ohio?
Getting with the best company is simple.
Work with the experts and that’s us! We help 90% of our clients find day one coverage despite their health conditions. Now we specialize in burial insurance in Ohio and all 50 states, we have over 20 carriers to choose from. We work with the top A-rated carriers nationwide which is why we guarantee the best coverage and rate available in your state.
Furthermore, our agents become your personal service agents for life. What this means is that they will be on call for you whenever you need them for things like adding more coverage, assisting with claims, helping your family members find coverage, and more.
We pride ourselves on long-standing relationships with our clients and their families. Our agents will hold your hand every step of the way and show you all of the ins and outs of these policies.
In the table below is a step by step guide on how to apply for final expense insurance in Ohio.
|Steps to Apply||Description|
|1. Speak with a Licensed Insurance Agent or Agency||In order to buy burial insurance you must speak with a licensed life insurance agent that sells the product. You cannot apply for majority of burial insurance products on your own.|
|2. Answer Health Questions & Provide Your Prescriptions||You must answer the health questions on the burial insurance application & provide your medications. The Life Insurance company will look at the Medical Information Bureau Health Report and run a Script Check on you using your Social Security Number provided on the application. This allows them to asses your risk and determine if they will approve you.|
|3. Provide the Name of your Doctor||The life insurance company will want to know the name of your doctor. In most cases they will never contact your doctor however, in some rare cases they can depending on what is found in the MIB reports.|
|4. Electronically Sign your Life Insurance Application||When applying for burial insurance online you will sign for your application using an electronic signature. Depending on the company you apply it will be a voice signature, e-mail signature or Text message signature.|
|Instant Decision of Approval or Denial||Burial insurance does not require a medical exam which means when you submit your application to the life insurance company it is the last step. Depending on which company you applied with you will receive an instant decision on your application. Some companies or situations may take a few days for a decision.|
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