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Burial insurance for veterans and military families
Veterans and military families often face unique challenges when planning for the future, especially when it comes to final expenses such as funeral and burial costs. While veterans may be eligible for some burial benefits through the Department of Veterans Affairs (VA), these benefits may not cover all of the costs associated with a funeral or cremation. This is where burial insurance can provide additional financial protection and peace of mind.
In this article, we’ll discuss what burial insurance is, how it works for veterans and military families, and why it can be a valuable supplement to VA burial benefits.
What Is Burial Insurance?
Burial insurance, also known as final expense insurance, is a type of life insurance policy designed to cover the costs associated with end-of-life expenses, including funeral services, burial or cremation, and other final expenses like unpaid medical bills or outstanding debts.
Unlike traditional life insurance, burial insurance typically offers smaller coverage amounts, ranging between $5,000 and $25,000, making it an affordable option for covering funeral and burial costs.
Burial Benefits for Veterans
Veterans who have served honorably are eligible for certain burial benefits through the Department of Veterans Affairs (VA). These benefits are available to veterans, service members who die on active duty, and certain spouses and dependents. Some of the key VA burial benefits include:
- Burial in a National Cemetery: Veterans are eligible for burial in one of the VA’s national cemeteries at no cost. This includes a gravesite, grave liner, opening and closing of the grave, and perpetual care. Veterans’ spouses and eligible dependents may also be buried in national cemeteries with the same benefits.
- Headstone or Marker: The VA provides a government-issued headstone or marker for veterans buried in national, state, or private cemeteries at no cost to the family.
- Burial Flag: Veterans are entitled to receive a U.S. flag to drape over the casket, which is presented to the next of kin as a symbol of honor.
- Presidential Memorial Certificate: A certificate signed by the President, recognizing the veteran’s service, is available to the family as a memorial.
- Burial Allowance:
The VA provides a burial allowance to help cover funeral expenses. The allowance is typically limited and varies based on whether the veteran’s death was service-related or non-service-related.
- For a service-related death, the VA may pay up to $2,000 toward burial expenses if the veteran died on or after September 11, 2001.
- For a non-service-related death, the VA may pay up to $796 for burial and funeral expenses if the veteran died on or after October 1, 2019.
While these benefits are valuable, they often do not cover the full cost of a funeral, which can range from $7,000 to $12,000 or more. This is where burial insurance can provide additional financial support.
Why Burial Insurance Is Important for Veterans and Military Families
Even though veterans are eligible for VA burial benefits, these benefits may leave significant gaps in coverage, especially if the veteran’s family prefers a burial in a private cemetery or requires additional funeral services not covered by the VA. Here’s why burial insurance is important for veterans and military families:
- Covers Costs Not Covered by VA Benefits: While VA benefits can help with some funeral and burial costs, they may not cover expenses such as transportation of the body, flowers, obituaries, or additional funeral services. Burial insurance provides a lump sum payment that can be used to cover these additional costs, ensuring that your family doesn’t have to pay out of pocket.
- Private Cemetery Burials: If a veteran or their family prefers burial in a private cemetery rather than a VA national cemetery, many of the VA burial benefits, such as gravesite costs and perpetual care, may not apply. Burial insurance can help cover the costs of a private cemetery plot, headstone, and other expenses associated with a non-VA burial.
- Peace of Mind for Family Members: Planning for final expenses can be stressful for family members. Having burial insurance in place ensures that your loved ones won’t have to worry about the financial aspects of your funeral. The policy provides immediate financial support, allowing your family to focus on honoring your life rather than struggling to cover costs.
- Affordable and Easy to Qualify: Burial insurance is often easier to qualify for than traditional life insurance, making it an accessible option for veterans and military families. Most policies do not require a medical exam, and both simplified issue and guaranteed acceptance policies are available. This makes it an ideal solution for older veterans or those with pre-existing health conditions who may have difficulty obtaining other types of life insurance.
- Quick Payout for Immediate Expenses: Burial insurance policies are designed to provide quick payouts to the beneficiaries, often within a few days to a couple of weeks after the claim is filed. This ensures that your family has immediate access to funds for funeral expenses, rather than waiting for VA benefits or other life insurance policies to process.
Key Considerations When Choosing Burial Insurance for Veterans
When choosing a burial insurance policy for yourself or a family member, it’s important to keep the following factors in mind:
- Coverage Amount: Estimate the total cost of your preferred funeral and burial arrangements, and choose a coverage amount that will meet those needs. Remember to account for any additional expenses not covered by VA benefits, such as transportation, flowers, and extra services.
- Simplified Issue vs. Guaranteed Acceptance: Depending on your health and age, you may qualify for either a simplified issue or guaranteed acceptance policy. Simplified issue policies require applicants to answer a few health-related questions but typically offer lower premiums and immediate coverage. Guaranteed acceptance policies do not require any health questions but may come with higher premiums and a waiting period before the full benefit is available.
- Fixed Premiums: Look for a burial insurance policy with fixed premiums, meaning that your monthly payments will not increase over time. This ensures that the policy remains affordable throughout your life, especially for seniors on a fixed income.
- Waiting Period: Be aware of any waiting period associated with the policy. Some guaranteed acceptance policies have a waiting period of one to two years before the full death benefit is available. If you pass away during the waiting period, the policy may only return the premiums paid, rather than providing the full death benefit.
How We Can Help
At Policy Ocean, we specialize in helping veterans and military families find the right burial insurance policy to supplement their VA burial benefits. Our team compares rates from top insurance providers to ensure you get the best coverage at an affordable price. Whether you’re looking for a simplified issue policy with immediate coverage or a guaranteed acceptance policy for peace of mind, we’re here to guide you through the process.
For personalized assistance and to explore burial insurance options, contact Policy Ocean today. Let us help you secure the protection your family needs and provide peace of mind knowing your final expenses are covered.
