Funeral Insurance, or often called Final Expense insurance or Burial Insurance is a whole life insurance policy designed to provide financial coverage from expenses resulting in ones funeral.These policies are typically around $10,000-$20,000 in coverage, and while called funeral insurance, the funds can be used for any expenses that may incur in a families time of need.
Funeral Insurance is certainly not the most fun thing to talk about but as you age, thinking about your financial future and well-being of your family is something that naturally and regularly comes up. Throughout middle age, many people purchase life insurance policies, health plans, supplemental insurance policies, and retirement plans. Oftentimes, however, expenses can occur even after somebody passes away, which leaves cost out of their control and it often becomes a burden to surviving family members.
The term funeral insurance can be misleading. It is impossible to purchase an insurance policy that will specifically cover all of the expenses related to your death, but it is possible to purchase a small policy that will help alleviate the cost of your funeral once you pass away. Because of this, funeral insurance plans are a small life insurance policy that will leave some money to those who will eventually be responsible for the costs of your final expenses.
You many also hear a funeral insurance plan commonly referred to as burial insurance, final expense insurance, or pre-need insurance. Although different people will refer to it with different names, it is the same product. There are different kinds of policies available, however.
Funeral Insurance Plans and Coverage Types
While burial and funeral insurance plans are always small life insurance policies, there are three main options when it comes to who receives the money or who provides the policy.
How to Buy a Funeral Insurance Plan
As you consider purchasing a final expense insurance policy, remember to purchase a plan that best suits your needs. Determine which aspects of your final expenses you will want to have covered, and decide how much you will need to pay for your arrangements. These are some good points to consider:
Once you have determined your specific insurance needs, you will be able to contact different policy providers to discuss policy amounts and pricing. We have made the shopping process simple by helping compare rates for you. Simply fill out the form and we will help provide you with a free quote for a burial insurance policy.
Preparing for your Final Expenses
As you shop for a funeral insurance policy, be sure to keep in mind your exact needs and don’t purchase a plan that provides coverage you don’t want or won’t need. This policy is meant to bring peace of mind to your family as well as yourself and should help alleviate any financial burden or stress. Fill out the form or call 888-761-1026 to speak with a licensed insurance professional who can help you asses your needs and build a custom policy that will work for you.
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