KNOXVILLE, Tenn. (WATE) — A World War II veteran is able to breathe easier about an insurance policy he bought in 1994. Merrill Campbell spoke with WATE in March about the burial policy he purchased 27 years ago when he learned the policy would only have a payout of $23 when it ends in November 2022.

Campbell purchased the $5,000 burial policy to help ease any financial burden on his wife and family. His monthly payment is $25.51 and since purchasing the policy he’s paid over $8,000 into it. He was extremely upset with the Jacksonville, Florida insurance provider when he learned the plan had a cash value of only $23.

Campbell mentioned the plan to his State Farm Agent, Linda Kilgore, who insures his boat. She asked him to bring the policy in so that she could look it over. Kilgore was able to contact the Florida agency that holds the policy.

“She said it will pay to keep paying because at the end of it, they told me to write a letter to them and they would send you a check, you don’t have to die,” said Campbell. “They will send you a check for $5,000.”

Campbell says that he plans on living long past November 2022 and is very grateful to have the issue resolved.

An insurance expert saw WATE’s previous story with Campbell and wanted to share some advice for people looking into life insurance and burial insurance. Tony Martin with Choice Mutual says that over the last 20 to 25 years, there have been improvements in the way burial plans are directed and explained. Burial insurance, also called funeral or final expense insurance, is essentially a life insurance policy, but with a much smaller benefit amount than traditional life insurance.

“The most important thing is for you to understand what you are being offered. Because you may talk to your agent, they may be offering you Whole Life, but the other agent may be offering you Term Life, the third agent might offer you Universal Life which is a hybrid of the two. So, a person needs to understand the type of policy they’re getting,” said Martin.