11 Tips for Veterans about Burial Insurance and Veteran Burial Benefits
1.
Take advantage of your VA - National Cemetery burial
benefits
a.
Get a Plot in a National Cemetery. From a cost
perspective, this is the biggest benefit.
i.
Includes the vault
ii.
Includes the opening
iii.
Includes the closing
iv.
Includes perpetual care
v.
Get pre-approved for you and spouse
b.
Monument / Headstone
c.
Spouse included.
d.
Other benefits such as certificate and flag, but
a final resting place in a national cemetery saves the most expense.
2.
Understand that the VA pays for nothing outside
of the gate of the cemetery.
a.
You will need burial insurance or other means
for a funeral, hearse, embalming or cremation, casket or urn, flowers, paperwork,
etc.
b.
Choose the closest National Cemetery to save on
transportation/ repatriation costs.
c.
Consider having your burial, memorial service,
and funeral combined.
3.
Use an independent life insurance broker who
specializes in final expense / burial insurance and is knowledgeable of your
veteran burial benefits.
a.
An independent broker will have access to multiple
life insurance companies to get the best price or maximum death benefit face
value.
b.
They can get you an accurate quotation and find
the best insurance company and policy to fit your needs at the best price.
c.
Find out if you are approved by your preferred
insurance carrier. You will not pay anything to make application and always
have 30+ days to cancel even after the future 1st payment.
d.
Ensure that your insurance company is AM Best
Rated A- or above.
4.
If you have a service-related disability designation
(even 0%) and are not in ideal health, consider VALife
a.
It is a guaranteed policy with a 2 year waiting
period
b.
Day 1 “level” coverage through private insurance
is usually much less expensive if you qualify, but for a guaranteed policy, it
is a good option. An independent broker can compare for you can compare for
you.
5.
Ensure your burial insurance is whole, permanent
life that…
a.
Cannot be canceled except for non-payment of
premium.
b.
The monthly premium is fixed for life.
c.
The death benefit is fixed for life.
d.
Stays within your future budget.
6.
Your family can be reimbursed for up to $796 for
funeral and burial that has been paid
a.
You must have passed away in a VA hospital, OR
b.
You receive a VA pension, OR
c.
You passed away because of service-related disability.
d.
Your family needs to keep receipts.
e.
Up to $2000 if death is result of a
service-related disability.
7.
Military funeral honors
a.
Upon the
family's request, Public Law 106-65 requires that every eligible Veteran
receive a military funeral honors ceremony, to include folding and presenting
the United States burial flag and the playing of "Taps." The law
defines a military funeral honors detail as consisting of two or more uniformed
military persons, with at least one being a member of the Veteran's parent
service of the armed forces.
8.
Avoid guaranteed policies that are marketed
through the mail and have misleading claims such as $9.99 per month. They are
universally more expensive.
9.
85% of our clients are veterans and their
families, and we are veterans too that did this same planning. We will mail you
all the paperwork and instructions for your benefits and explain how to proceed
in the simplest manner. We will also find the maximum amount or least monthly
cost.
10.
If you are eligible for Arlington National
Cemetery, speak directly with them. Arlington is not part of the National
Cemetery Administration.
11.
Do not procrastinate.
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