Funeral insurance is a policy you can get from either a funeral home or insurance agent which is designed to cover just the cost of the funeral. To cope up with the escalating funeral cost, you should get affordable coverage as soon as possible in order to remove burden on family after death.
Like most people you will immediately see the benefits of this type of insurance. Unlike life insurance, this is just to cover the funeral expenses. It is usually much cheaper than life insurance and when you realize Social Security will only $250 on funeral expenses; it can save your finances. Click here to learn about the frequently asked questions about funeral insurance.
Most standard funerals can end up being in the thousands of dollars (average funeral cost in the USA is around $9k) once all is said and done. Just like life insurance, it is cheaper to get when you are younger. In other words you shouldn’t wait until the last minute to get some for yourself or those you love.
It is not a good idea to use your life insurance for the funeral expenses since they can eat up most insurance policies and life insurance is supposed to support those you leave behind. In other words life insurance is supposed to be used to keep the ones you leave behind living their lives and not on the street once you are gone.
There is usually no health questions or premium increment for poor health with funeral insurance. It is more like a funeral “lay-away” where the final costs are distributed over a number of years. The more time, the cheaper the monthly rate for the funeral insurance.
Shop Around and Save on Premium:
It is unwise, though, to jump on the first policy you encounter. Prices may vary greatly between policies. You must also make sure you have considered all you want done for the funeral as each item will increase the cost of the whole service. Be in for a rude surprise once they quote you the final price for your service.
The great variance in funeral pricing is why you need to shop around to get the best deals. Make sure all of your final plans are included and there is some kind of “price lock” so there are no unexpected expenses left for the loved ones you leave behind. A funeral is a stressful enough, it gives most people peace of mind knowing they took care of their funeral expenses all well before the time came.
Once you have the best price on your final arraignments, ask the funeral homes, and your insurance agent, if they offer funeral insurance; what the price is, and what is included. It is also a good idea to check other insurance agents to not only see if they have better rates; but, if they can save you money on a “bundle” deal.
With a little due diligence you can have peace of mind knowing all your final funeral expenses are covered and you will get the funeral service you want. Shopping for funeral insurance can save you money now and reduce stress in the future. Bartlett Funeral Home gets you the option to meet with the funeral director and discuss about the amount of coverage you need in case you are totally unsure about it.