Final Expense/Burial Insurance In Ohio Overview

David Duford last updated on March 7, 2022

Are you an Ohio resident trying to decide whether burial insurance is for you?

Understanding insurance policies can take a lot of time and research. Missing important details can cost you hundreds if not thousands of dollars!

Did you know some policies can automatically cancel on a certain date or when you reach a certain age? It’s true! Many people have found that out the hard way and lost their coverage without even knowing it.

In this article I will cover what burial insurance is, what policy automatically cancels at a certain date or age, and how you can choose the best coverage for yourself.

Read on to learn more.

NOTE: For a free burial insurance quote specific to the state of Ohio click the Get A Quote Button or call 888 626 0439 and one of our friendly life insurance specialists would be happy to provide you with answers and a free quote in less than five minutes.

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How Does Burial Insurance/Final Expense Insurance In Ohio Work?
What Does Burial Insurance Cover?
Final Expense Insurance Versus Life Insurance
Average Funeral Cost In Ohio
Funeral Price Inflation In Ohio
If I Live In Ohio Is Funeral/Burial Insurance Worth Having
What Happens If I Do Not Have A Burial Plan In Ohio
Is There An Age Limit For Burial Insurance
Our Favorite Burial Insurance Providers in Ohio
What Is The Cheapest Burial Insurance Plan In Ohio
How Much Burial Insurance Coverage Should I Get
How Do I Buy A Burial Insurance Policy
FAQs
Terms To Understand When Talking About Insurance

How Does Burial Insurance/Final Expense Insurance In Ohio Work?

Funeral insurance is a specific type of insurance policy that only covers funeral and end of life related expenses. This policy has a smaller benefit because it is only meant to cover one specific incident, someone’s death.

Funerals can cost thousands and if the deceased carries a lot of debt or medical bills, the family can be left with huge expenses and no way to cover them.

Planning ahead can save your loved ones stress and money. Everyone is encouraged to plan ahead to cover large expenses such as their funeral, especially parents!

Final expense insurance can also be called burial insurance or funeral insurance. All three of those terms will be used in this article to describe an insurance policy that covers burial expenses.

Burial insurance policies can be sold by agents, brokers, and in some cases at funeral homes. Also, we at BuyLifeInsuranceForBurial.com can help, of course!

When you purchase a burial insurance plan you must select and name a beneficiary. Upon your death, the beneficiary is the only person authorized to use the insurance money to cover your expenses. Choose a responsible and capable individual who you trust.

What Does Burial Insurance Cover?

The funeral, memorial, other products, left over debts, and medical bills can be covered by final expense insurance. The only limits are the amount of coverage you get. If your benefit only provides enough to pay for the basics of your funeral then there is no extra money to pay off debts.

Each plan may have different coverage limits and could include or exclude certain things. Make sure to read through each plan you are considering carefully. Ask the agent if you do not understand something.

Final expense insurance plans may cover:

Cremation costs
Burial costs
Casket/Urn
Preparation Of The Body
Funeral expenses
Service Expenses
Debts
Medical Bills
Legal Costs

What’s The Difference Between Burial Insurance Versus Life Insurance?

Burial insurance and life insurance are pretty much the same thing. They are both insurance plans that provide benefits after someone passes. The only differences are the amount of benefits each plan offers and what the money’s for.

A funeral insurance policy pays between $10,000 to $25,000 or more. A life insurance policy pays out a lot more because the money is meant to cover the lost income of the deceased.

If your life insurance plan offers final expense insurance it may be termed as a death benefit. Read through the policy to confirm your plan offers this option.

Average Funeral Cost In Ohio

The national average funeral cost for the service, flowers, burial, and plot is $7,000 to $12,000. The national average for cremation and a simple funeral service is $6,000 to $7,000.

Now compare the average funeral in Ohio in 2021 which was $6,997. In Ohio, the average cremation funeral in 2021 cost $5,646.

Keep in mind the casket, urn, headstone, burial plot, flowers, and transportation are separate from the service fees. These other expenses will cause your final price to go even higher.

Reference this chart to find out the specific products and service costs.

Item	Average Cost
Transporting the body to the funeral home	$350
Hearse	$340
Preparing the body	$255
Embalming	$750
Casket (simple wood casket)	$2,995
Cremation	$350
Urn (simple urn)	$300
Flowers	variable
Burial Plot (basic)	$1000
Headstone (basic)	$199
Funeral Facilities For Ceremony	$500
Printed Materials	$175

Other expenses to consider when someone passes are travel expenses for the family and legal expenses if your family needs to hire a lawyer.

Average Funeral And Cremation Service Fees In Ohio By County

Cleveland

Service Choice	Average Cost
Direct Cremation Service Fee	$2135
Immediate Burial Service Fee	$3876
Cremation Memorial Service Fee	$6067
Full Burial Service Fee	$7473

Columbus

Service Choice	Average Cost
Direct Cremation Service Fee	$2026
Immediate Burial Service Fee	$3759
Cremation Memorial Service Fee	$5392
Full Burial Service Fee	$6701

Huntington

Service Choice	Average Cost
Direct Cremation Service Fee	$2054
Immediate Burial Service Fee	$3808
Cremation Memorial Service Fee	$6136
Full Burial Service Fee	$7356

Wheeling

Service Choice	Average Cost
Direct Cremation Service Fee	$2486
Immediate Burial Service Fee	$4185
Cremation Memorial Service Fee	$6567
Full Burial Service Fee	$7883

Remember when considering the amount of coverage you will need the above numbers are just averages, and if you want a larger service or upgraded products the price will go up.

But there is one more factor to think about when considering how much your funeral will cost.

Funeral Price Inflation In Ohio

Each year the costs involved in a funeral, burial, and cremation rise. Prices continue to rise because the cost of materials, shipping costs, and labor continues to increase each year.

Funeral expenses rise at an average of roughly 3.5% to 6.4% a year. So if a very basic funeral costs $7,000 in 2021, in 2031 it would cost around $11,500.

However, since the pandemic, the cost of caskets has increased 20% to 30%. This is because they are usually shipped overseas. It is now more challenging to find the materials and ship a finished casket. The rate of inflation can jump very quickly.

Take a look at this chart which shows the estimated average inflation we expect to see in the next 30 years.

With average yearly inflation of 5%, by 2050, you can expect to pay almost $30,000!

So remember to take into account inflation when looking at the amount of coverage you will need. For younger people, you will need more coverage.

If I Live In Ohio Is Funeral Insurance Worth Having?

Funeral costs can easily reach $7,000. There are also many other unexpected expenses that can surprise your loved ones. Legal fees, the cost of liquidating assets, repairs to any property you own, and unpaid debts.

Having burial insurance can give you peace of mind. Funeral insurance can cover those funeral expenses and other unpaid debts.

You may have some money saved up to cover any expenses. If you decide not to buy funeral insurance you would be leaving your family open to the risks of unexpected expenses and unpaid debt.

Remember that $7,000 dollars today will not cover your funeral in 5, 10, or 20 years. The cost of materials and services will rise.

Consider the following factors when deciding if you want burial insurance:

Your current financial situation
Any current life insurance plan you may have
Your family members financial situation
The services and items you want at your funeral. As mentioned before a very simple funeral will easily reach $6000. A large funeral with many upgrades will easily reach $20,000.
The money you have already saved/set aside
Legal and estate settlement costs
Unpaid debts
The unknown expenses and fees you are not aware of. These can catch surviving family members by surprise.

Once you have an estimate, you can start looking into the appropriate plans.

What Would Happen If I Do Not Have A Burial Insurance Plan In Ohio?

So, let’s say you pass without any burial insurance coverage. Say you have no savings and a few credit cards with outstanding payments. What if you have some medical bills left too?

All those expenses would fall on your family members.

This would create a very stressful situation for those left behind. They would need to collect a minimum of $7,000 to hold even the most basic funeral.

If your family cannot collect that amount needed to cover your funeral expenses then they will have a few options.

They could cremate the remains and the funeral home would dispose of them. They would have to forgo a service and any upgrades.
If there is any money left in your estate the family could use it to cover the expenses.
They could go into debt to cover the expenses. They could take out a loan or a funeral loan. A funeral loan has high-interest rates.
They could find an assistance program in their state that helps cover the cost of your funeral.

Unfortunately, sometimes the family cannot find any way to cover the funeral. In this case they would have to sign over the body to the local government.

Taking care of your family members’ burial in the way they would have wanted can help the family to grieve and find a sense of peace in some ways. Having to abandon a family member and sign over their body to the local government would be a horrible way to bury someone.

What Is A Pauper’s Grave?

A pauper’s grave, as the name suggests it means a grave for a pauper or poor person. This is the term used for unknown bodies or bodies that a family must sign over to the local government to bury.

The body will either be buried in a plywood casket or cremated and the remains disposed of.

A person buried by the public may have to share the same burial plot with someone else. This way of burying someone has little to no dignity and provides no way for the family to grieve by visiting a burial plot.

The local government could also decide to bury the body in a mass grave. This is the worst case scenario for anyone. However, once you have signed over the body to the local government you lose final say on how someone is buried.

Click this link to read more about a pauper’s grave.

Is There An Age Limit For Burial Insurance?

The age limit for each company is different. Each provider has their own age limits on who they will accept and insure. Generally those limits are between 45-85.

However, there are providers that will insure an individual from the age of 0 (the day they are born) to age 90. If that is something you are interested in please contact us to get more information.

Our Favorite Insurance Providers In Ohio

Our favorite insurance providers in Ohio are:

Aetna
AIG/American General
Royal Arcanum

Aetna has benefits of $2,000 to $50,000. Your coverage and premium are subject to your age. Aetna has an age limit of 40-89 years old. They accept bank draft payments only.

Aetna will look into your medical history for the past two years when you apply. You do not have to sign anything. Aetna uses a verification system that uses a passcode instead of verbal or signature verification.

This carrier would be a good choice for relatively healthy individuals who have not had liver disease in the last two years, or a heart attack or other serious illnesses in the last year.

AIG/American Generalhas coverage of $5000 to $25000. They are available everywhere except New York and Maine. They have an age limit of 50-80 years old.

They accept bank draft payments, direct deposits, and debit/credit card payments. They have an e-app or paper application. The e-app is very fast and convenient.

The most important part about AIG: They also offer guaranteed issue plans for their customers. Read the FAQs to learn more about guaranteed issue/acceptance.

This option is best for someone with preexisting health issues who has been or may be rejected for coverage. We at BuyLifeInsuranceForBurial.com work with AIG and can help you attain valuable coverage with this carrier.

Royal Arcanum offers coverage between $2,500 for Graded and Simplified coverage. Graded coverage in all other states between the ages of 45-85 is $2,500 to $15,000.

Generally their coverage is between $2,500 to $50,000. Their graded coverage is usually issued the same day or max 48 hours. Mostly the same day.

This plan would be best for semi healthy individuals, the graded and simplified coverage can apply to those with certain health issues. Contact us directly at 888 626 0439 to learn more.

What Is The Cheapest Burial Insurance Plan In Ohio?

The cheapest burial insurance plan depends on the carrier you choose, your health, and your age. Depending on the plans requirements and your health your policy could cost more.

If you are rejected, there are opinions for a no questions asked policy. Read the Guaranteed Issue/Acceptance FAQ.

Our agents have access to over 15 different insurance providers. This allows us to do the shopping for you to find the best plan for you at the most reasonable price.

Click the Get A Quote Button to find out the cheapest burial insurance available to you or call 888 626 0439 and one of our agents would be happy to provide you with answers and a free quote in less than five minutes.

How Much Burial Insurance Coverage Should I Get?

You need to get a policy that covers what a funeral costs today and in the future. We have seen prices jump as high as 30% for some products and burial-related expenses in the last few years.

In Ohio, it is a smart idea to have coverage between $8,000 to $20,000, if you are older. If you are younger you need to start with coverage of at least $20,000 and slowly increase your coverage periodically. As we saw in the chart, by 2050 it is very likely funerals will cost around $30,000.

If you are young and healthy and will live to 2050 or beyond, your coverage will need to match the yearly inflation rates.

Your plan will need to factor in inflation. Either way, having some form of coverage is a protection for you and your loved ones.

How Do I Buy A Burial Insurance Policy?

To purchase final expense insurance in Ohio, you can contact an agent online or over the phone.

We provide insurance assistance and our agents are available to answer any questions you have. Give us a call to get a free quote and learn the options that are available to you.

For a free burial insurance quote specific to the state of Ohio click the Get A Quote Button or call 888 626 0439 and one of our friendly life insurance specialists would be happy to provide you with answers and a free quote in less than five minutes.

FAQs About Getting Burial Insurance In Ohio

What If I Have Pre-existing Health Issues, Can I Still Be Covered?

Yes, you definitely can. There are plans available for all different types of individuals. With so many options it can become overwhelming.

Many companies can offer graded or simplified coverage for individuals with certain health conditions. Conditional coverage is also provided by some carriers for those with recent health issues.

There are Guaranteed Acceptance policies. These policies ask no questions and guarantee coverage acceptance. Contact one of our agents by clicking the Get A Quote Now button or calling 888 626 0439.

What Questions Will I Be Asked?

When purchasing a burial insurance you need to provide some information. Your personal information and payment information will be needed. Sometimes carriers will ask about your medical history and any recent hospitalizations.

Some applications ask about your heart’s health, diabetes, smoking, cancer, tumors, or organ transplants.

Some applications have as little as two questions while other application forms ask upwards of 10 questions.

What Is Guaranteed Acceptance/Guaranteed Issue?

Guaranteed Acceptance means anyone who applies is guaranteed to be accepted for coverage.

No questions asked, as soon as your application you will be accepted. Not every provider offers guaranteed acceptance. Guaranteed Issue is a good plan for someone with many health issues.

What Policy Never Cancels?

A whole life insurance policy will never cancel or expire automatically. This policy can be bought at a young age and carried throughout your whole life. This is a better plan to get the younger you are as the payments will stay the same.

Donsides: the death benefit amount remains the same. So if the death benefit is $10,000 when you purchase it, 30 years later it will still be $10,000 and as we have seen that will not cover inflation!

Another downside is, these whole life policies can be more expensive than other choices!

What Else Should I Prepare In The Case Of My Death In Ohio?

Preparing for a funeral and simplifying your estate is wise for any adult, especially parents or individuals older than 40.

There are also legal things to consider such as heirs and beneficiaries. If you do not designate heirs and what they will receive it can leave a confusing and stressful situation for your family members.

The basic things to consider are:

Will, clearly delegate assets.
Funeral Expenses, provide savings, burial insurance, or pre-need insurance.
Estate settlement costs and legal fees
Assets you currently own and the upkeep involved.
Collect your passwords and important documents in a safe place that can be located by a trusted family.

Can I Have Multiple Burial Insurance Policies At The Same Time?

Yes, you can. There are no legal limitations to the amount of policies you can hold. There are, however, some drawbacks to having too many policies.

Carriers can become wary of insuring someone who already has a lot of coverage. You also need to make sure your total benefits amount is within the range you qualify for.

You can own a whole life insurance policy, an additional policy to cover your income and family’s needs, as well as a final expense policy. The amount of policies you hold is up to you.

An alternative is to purchase a policy rider, this is an add on to your current policy.

Terms To Understand When Talking About Burial And Final Expense Insurance

Death Benefit – a one-time payment from your life insurance provided upon the policy holder’s death. In some cases, this can be considered Final Expense insurance but not always.

Beneficiary – the person you designate the benefits and payouts to go to.

Lapsed – when the policyholder fails to pay the premium.

Term – the period you are covered by your insurance policy. This could be 2 weeks for travel insurance or 45 years for life insurance.

Premium – the amount you are required to regularly pay the insurance provider to keep your coverage.

Policy Rider – extra coverage you can add to an existing policy. If your circumstances change, getting a policy rider will allow you to increase your coverage.

Term Life Policy – this is life insurance that provides insurance coverage at a fixed payment rate for a set period. You lock in the premium you will pay for an agreed-upon amount of time.

Whole Life Insurance – a life insurance policy that will stay in force for the entire life of the policyholder. The premiums are fixed and death benefits are not usually offered with this insurance plan. Sometimes called straight life, ordinary life, permanent life insurance, or whole of life assurance.

Universal Life Insurance – this is a type of insurance policy mainly sold in the United States. This is permanent insurance that stays active as long as the policyholder pays the premiums. This policy offers flexible premiums and death benefits. This insurance also has a cash value factor.

Pre-need Insurance – this is an option where an individual pays a funeral home for their funeral costs before they pass. The individual can choose their service, casket or urn, and other details.

Insurability – this refers to whether or not an individual qualifies to be insured under a policy.