Burial Insurance in New York

What’s different about buying a New York burial policy? If you live in this state, you probably already know that New York has very strict insurance rules. This protects state residents, but it means that fewer insurers do business here. Of the companies that do work in New York, we suggest considering Mutual of Omaha burial insurance, Transamerica burial insurance, or Vantis Life.

Whole life policies can provide your beneficiaries with cash that they can spend in any way they choose. They will not be tied to any specific funeral home, and they have no obligation to spend the entire sum on a funeral. Some elderly people may just be looking for burial insurance quotes, but others may want to buy larger policies that they can use to leave their children or grandchildren with an inheritance.

Mutual of Omaha Burial Insurance

This is called simplified issue coverage because your policy and benefits are based upon the answers to a few health questions, and no medical exam is required. Mutual of Omaha provides two levels of benefits in order to give coverage to the most people.

This describes level benefit plans that pay the full death benefit from the day that a policy gets issued:

  • Issue ages: 45 to 85
  • Death benefits: $2,000 to $40,000
  • Accelerated death benefit: For terminal illness or nursing home confinements.

This describe the graded benefit that returns premiums with 10 percent interest the first and second year and pays the full benefit beginning with the third year:

  • Issue ages: 45 to 80
  • Death benefits: $2,000 to $20,000
  • Accelerated death benefit: No

Transamerica Burial Insurance

A typical New York burial policy has a fairly modest face value, and that is one reason they are affordable for a lot of middle class families. However, some seniors require larger amounts of coverage. This company does have simplified-issue final expense insurance that can be issued in amounts up to $50,000. But it also offers a fully-underwritten senior life insurance policy that can be issued in amounts ranging from $50,001 up to $3,000,000.

  • Issue ages: Up to 80 years old
  • Accelerated death benefit: For the fully-underwritten policy only
  • Cash value: Yes
  • Level death benefit: Payable from day one

Vantis Life Insurance

This company offers a more traditional final expense insurance policy. This guaranteed issue burial insurance policy requires the answers to absolutely no health questions, and they do not turn anybody down because of medical issues. The policy returns premiums during the first two policy years, and it pays the entire death benefit starting with the beginning of year three.

  • Issue ages: 50 to 80 years old
  • Cash value: Yes
  • Accidental death: The full death benefit is payable from day one

Which Life Insurance Company is Best for You and Your Family?

Different people have different needs, budgets, and medical conditions, and you should base your decision upon your own unique situation. If you are in relatively good health for your age and do not require a large policy, Mutual of Omaha provides a good solution with a lot of benefits and fairly cheap rates. If you would like to purchase more coverage, you might consider Transamerica. Finally, if you believe you suffer from a medical issue that might make it hard for you to find coverage, the third option might be your best choice.

We Offer Free New York Burial Insurance Quotes Online

In any case, you can start shopping for the perfect plan by accessing our online life insurance quotes tool. We represent a variety of highly-rated insurers, and we can consult with you about many different products. Some of our clients just want guaranteed issue burial insurance, but some of them want to purchase enough coverage to transfer an estate or protect a business. We can help you with policies for children, young adults, and seniors.

We are United Life Group, and our experienced agents are happy to provide information and quotes over the phone too. We hope to help provide you with the best coverage and the cheapest rates.