Reviews are a great way to understand the product being offered. You get to know about a product’s distinguishing features, how using it will solve a problem in your life, and if it is worth investing in.
You can leverage insurance reviews to understand the product range, benefits, premium amounts, and coverage offered in-depth. For example, it would help if you first read through the Foresters Insurance reviews by Gary P. Cubeta from Insurance for Final Expense before deciding on buying a burial insurance product.
5 Things You Can Learn with a Burial Insurance Product Review
1. What is Burial Insurance?
Most senior citizens may not be aware of burial insurance as a product. It is understandable preparing for one’s own funeral expenses can be an emotionally difficult subject to deal with. Due to this same reason, it is important for one to fully understand what burial insurance is and how it can help cover final expenses.
According to NFDA, the median cost for a funeral in the US is $7,640. With the inclusion of the vault, this median cost rises to $9,135. Burial insurance offers a typical coverage of $5,000 to $25,000 and is bought with the aim to tend to final expenses.
2. Are Medical Examinations Required for Burial Insurance?
There is no medical examination conducted for the purchase of burial insurance. Depending on the insurer, one might have to answer health questions to qualify. Further, some insurers will deny an application in case of pre-existing medical conditions. With a product review, you can get a clear picture of the different medical conditions covered and not covered by an insurer
3. What Are the Different Types of Benefits Offered?
You can either buy insurance with no waiting period or opt for a policy with a usual waiting period of two years. If the individual passes away during the waiting period, the beneficiary does not receive the full death benefit amount. The benefits offered in such a case might differ from one insurer to another.
With a product review, you get an insight into the different burial insurance plans offered by the insurer. For example, the Foresters Insurance reviews mention the three different types of insurance plans offered by the insurer:
- Graded Benefit
- Modified Benefit
- Level Benefit
4. How to Apply For Burial Insurance?
The application process for burial insurance is easy, but a product review will inform you of all technicalities covered by the insurer. For example, the insurer will verify the prescription history of the applicant against the MIB files. Insurers might conduct a face-to-face interview to verify details.
5. What Are the Premium Rates for Burial Insurance?
A product review will also provide you an insight into the premium rates you might end up paying depending on the coverage you are looking for. Male applicants usually have to pay high premium rates compared to females owing to low life expectancy rates.
Reading product reviews should be your first step when researching for the right burial insurance product to buy. These reviews provide in-depth details of the insurance policy, offer competitor comparison, and help you understand if the insurance is worth buying. Begin with Foresters Insurance reviews to know more about burial insurance.