Burial Insurance For VeteransThere is a common misconception among military veterans and their families as to what benefits are paid out upon a retired veteran’s death. Everyday, individuals all over the United States purchase what is known as final expense insurance to cover just that, final expenses. Although veterans’ loved ones do receive a small payout, burial insurance for veterans is not covered by the VA. The amount of coverage individuals get is most often used for the purposes of covering funeral or cremation costs. Right now, the average cost of a traditional funeral in the United States ranges from $7,500 to $12,000. This amount can be more or less depending on factors like: the individual’s geographic location; transportation of the body; the size of the service; etc. I had a heart breaking story that I will not share the names of the family members involved, but I feel as though their story needs to be told and they would agree. All names have been changed to protect privacy. More on this story later. Being a final expense field underwriter, we are tasked with the preliminary job of assessing a person’s health to match them with the insurance company, who is:
- Going to insure them.
- Going to get them the best possible rate.