Burial Insurance Companies
Burial Insurance Topics
Kemper Senior Solutions
Kemper has been in business since 1956, and it currently services more than 6 million policyholders. The company offers a modified whole life insurance policy for its burial or final expense customers. The policy is guaranteed issue, which means that you won’t be turned down for medical reasons. Kemper guarantees that your premiums will never increase, and its policy features a guaranteed cash value that may be borrowed against. The company does not require any physical examinations or medical testing in order to qualify for its burial insurance plan.
What is burial insurance?
Burial insurance is also called funeral insurance or final expense insurance. It is a form of life insurance that pays a predetermined amount to a specified beneficiary after the policyholder dies. Burial insurance is usually less expensive than standard life insurance. Burial insurance is usually easier to obtain than standard life insurance in terms of qualifications and allowed medical problems. Burial insurance also usually features lower monthly or annual premiums than standard life insurance. It is intended to cover funeral-related services and products.
Why is burial insurance necessary?
If you don’t have savings or cash prepared to pay for your funeral or other end-of-life expenses, you should invest in burial insurance. If you do not, your surviving relatives will be held responsible for the costs of your burial and any associated expenses, which could leave them in debt. Burial insurance leaves your family a lump-sum cash payment which may be used to cover funeral expenses or anything else that they desire. Burial insurance may also be used as a low-cost alternative to traditional life insurance in the event that insurance companies have declined to cover you because of medical or lifestyle-related reasons.
How much burial insurance is necessary?
As of 2016, the average American funeral costs around $10,000, though this figure will fluctuate based on your exact location and the type of funeral services your family desires. Burial insurance policies with higher payouts are available, but they will feature higher monthly or annual premium payments. They may also feature qualification restrictions based on your health and your lifestyle choices (for example, smoking or drinking). If you plan to have a small funeral service with minimal frills, $10,000 should provide your family with enough money to cover all of the expenses.
How to get started
If you are already a Kemper Senior Solutions insurance customer, you should contact your local office and inquire about a final expense policy. If you are a prospective customer, you can contact a customer service representative via the information listed at the end of this document. You may also shop for policies using our comparison tool by clicking on the following link.
Financial Strength Ratings
AM Best – BBB-, Stable outlook
Moody’s – Baa3, Not on watch
Standard & Poor – No rating
Company contact info
Kemper Senior Solutions
PO Box 269010
Oklahoma City, OK 73126