Burial Insurance Companies
Burial Insurance Topics
Surebridge Life offers supplemental insurance plans designed to reduce financial risks in unexpected emergencies or end-of-life situations. The firm is underwritten by The Chesapeake Life Insurance Company and it was founded in 2011. Surebridge Life’s final expense plan offers death benefit payouts ranging from $2,000 to $35,000. You may qualify for the plan up to age 85. The company does not require a medical exam, but you will need to answer a few health-related questions during a phone interview with an agent.
What is burial insurance?
Burial insurance is a type of life insurance that pays a specified amount to a beneficiary after the policyholder dies. Burial insurance is usually called final expense insurance by insurance companies and agents. Burial insurance is generally cheaper to obtain than regular life insurance. It is also usually easier to qualify for when compared to traditional life insurance. Burial insurance is intended to cover the fixed costs of burials, funerals, and related services.
Why is burial insurance necessary?
Burial insurance is necessary if you don’t have enough savings or cash on hand to pay for your end-of-life expenses. Even basic funerals can cost approximately $10,000, and your surviving family will be responsible for these costs if you don’t have any money set aside for them. Burial insurance provides your loved ones with a lump-sum cash payment that they may use for burial expenses or anything else they need. Burial insurance may also be an option if you have been denied traditional life insurance coverage.
How much burial insurance is necessary?
Basic funerals cost around $10,000. Most burial insurance policies offer payouts in that neighborhood. Some offer considerably more, but you will have to pay higher monthly premium rates to obtain higher death benefit payouts. Policies with higher payouts may also have stricter qualification standards in terms of your current health or family health history. If you plan to have a modest burial service, a $10,000 final expense policy should cover almost all of your family’s needs.
How to get started
If you are already a Surebridge Life 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 below. You may also shop for policies using our comparison tool by clicking on the following link.
Financial Strength Ratings
AM Best – B++, Stable outlook
Moody’s – Not rated
Standard & Poor – Not rated
Company contact info
The Chesapeake Life Insurance Company
Customer Care Center
PO Box 982015
North Richland Hills, TX 76182-2015