Archives for December 2013

Who is funeral insurance best suited for?

Death is something that is certain in everyone’s life. With that said, everyone wants to be prepared for the day that that they pass away. Most people are familiar with life insurance and the benefits of having it. Besides life insurance, there are other options available that a person can choose to prepare for their death. Many people choose to get funeral insurance, also known as burial insurance, as it is usually a less expensive option.

When an individual purchases funeral insurance, they are assured that all of their final burial expenses are covered. It is very important to have these expenses covered as a burial can easily exceed $10,000. Nobody wants to leave a financial burden on their loved ones. Family members and friends will already be grieving, and an individual will not want them to have to worry about any money issues. Funeral insurance is a great option for those who do not have many assets or cash savings. When a person reaches a certain age, their life insurance policy can easily become unaffordable. Funeral insurance is not as expensive and is affordable for most individuals.

Those who want to plan their funeral ahead of time may want to consider getting funeral insurance. They can make sure that everything for their funeral is set up exactly the way they want it and will know all the costs involved. If they feel that certain things will be unnecessary, they can deduct certain expenses. Also, if they want an elaborate service, they will know what the extra costs will be. Funeral insurance is also great for those who have health problems. Unlike many life insurance policies, there is usually no health examination required. This means that those with an existing health issue will not be denied the insurance that they need.

Unlike a life insurance policy, funeral insurance does not issue a payment to a person’s beneficiary to be used in any way that they like. Instead, the money can only be used to cover expenses that are associated with an individuals funeral. Basically, a person will be prepaying their funeral expenses before they pass away. By having burial insurance, a person will have peace of mind knowing that they have taken care of the financial responsibility of their funeral. Also, they will know that they are going to have a dignified funeral just the way they planned it.