Burial Insurance

Definition

• A form of life insurance policy that covers funeral expenses, generally with a level premium up to the age of one hundred. Also known as "final expense insurance" or "funeral insurance."

Synonyms
entombment, burial services, crypt, grave, funeral insurance, coffin, cremation, deep six

Related Terms and Acronyms

• Accidental Death and Dismemberment Insurance — Definition,
  • Insurance coverage for death or dismemberment (the loss of a body part).
• Accidental Death Benefit (ADB) — Acronym, Very Important,
  • An additional benefit that pays an additional sum to a beneficiary if the cause of death is deemed to be accidental.
  ➥ A life insurance policy rider.
• Casualty — Definition,
  • A liability or loss that results from an incident or accident.
• Critical Illness Insurance (CII) — Acronym, Very Important,
  • Insurance that covers individuals in the event of a critical or catastrophic illness.
  ➥ A health insurance policy rider.
• Death Benefit (DB) — Acronym, Very Important,
  • A payment or series of payments made to the beneficiaries of a life insurance policy.
  ➥ An amount paid to a beneficiary in a life linsurance policy.
• Living Benefits — Definition,
  • The option for a life insurance policyholder to receive a portion of their death benefit in advance of their death.