Burial Insurance Companies
Burial Insurance Topics
American National was formed in 1905, and it currently sells a wide array of life insurance products, retirement annuities, accident and health insurance, pension plans, and more. While the company does not specify burial insurance packages on its website, it does sell term life plans that may be used for burial or final expenses. American National’s term life plans feature level premium payments, which means that your payments will not increase as long as you make them on time. You should contact the company using the information at the end of this document and ask them about a final expense policy option.
Why you need burial insurance
Burial services in the United States currently cost an average of $10,000. These expenses are increasing on an annual basis, with a five to eight percent jump each year. The $10,000 figure assumes a modest funeral with very few extras. It does not include basic services like cemetery fees, body transportation, headstone fees, floral arrangements, and more. Burial insurance can help you and your loved ones not only meet these rising costs, but it may also benefit your family in other ways. Burial insurance pays in cash, which means that your beneficiary may spend it on anything that he or she chooses. Burial insurance does not restrict your beneficiary to any particular funeral home, funeral type, or geographic location.
You should consider burial insurance if you:
- Lack life insurance
- Lack savings or cash set aside for burial expenses
- Wish to absolve your family of burial expenses after your death
- Wish to maintain separate life and burial insurance policies
How it works
Burial insurance costs can vary greatly. The cost depends on factors including the amount of coverage desired, your age, your sex, your health, your health history, and your location. Burial insurance plans usually feature a monthly premium in exchange for a pre-set amount of coverage. Premiums are occasionally offered on an annual or otherwise flexible basis. If you’re a 50-year old man living in South Carolina, you can expect to pay about $50.00 monthly for $10,000 of burial insurance. If you’re a 75-year old woman living in California, you will pay considerably more due to both your age and the higher cost of living in California. These figures are estimates. Your actual rates and quotes will likely vary. In many cases, answering a medical questionaire or undergoing a medical underwriting process may lower your premium rates.
How to get started
If you are already an American National insurance customer, you should contact your local office and inquire about a final expense policy. If you are a prospective customer, you can obtain a quote by contacting the firm using the information listed below. You may also shop for policies using our comparison tool by clicking on the following link.
Financial Strength Ratings
AM Best – A, Stable outlook
Moody’s – Ratings withdrawn
Standard & Poor – A, Stable outlook
Company contact info
American National Insurance Company
One Moody Plaza
Galveston, TX 77550-7947