Funeral Insurance: Why You Truly Need to Think About It
When you think of the world right after you pass, how do you see it in your mind? Do you see your family processing with your remains all somber and teary-eyed? Do you see loved ones gathering to share the good times and celebrate your life? Or do you see absolute chaos with people unsure what to do with your body and how to pay for it? As horrible as it sounds, the latter scenario does happen, and happens more than anyone would like to think. Keep such a sad situation from befalling your loved ones by purchasing funeral insurance while you are still alive. This small, inexpensive policy can help maintain order and reduce the stress of those you leave behind.
So what is funeral insurance? These policies set aside a specific amount of money to be used exclusively for handling your remains after your passing. This means that instead of taking money out of their own accounts or your estate, your surviving loved ones will have a pre-populated fund that is completely dedicated to handling your funeral. Types of costs that can be included in this insurance are those related to cremation and burials, like the actual cost of the service, the cost of the coffin, the cost of the grave plot, the cost of the urn, and similar expenses.
The sad truth is that most of these items and services, at least halfway decent ones, are incredibly expensive and the average cost of a funeral can be thousands of dollars when all is said and done. The point of the funeral insurance is to prevent this cost from trickling down to those you leave behind and removing the choice between having your memory be honored in a positive way and having it be honored in the most cost effective way. This insurance plan really allows the people you love to breathe a big sigh of relief and focus on their grief, not how they’re going to pay for your funeral.
Purchasing this type of insurance is very easy and can even be done online 24 hours a day, seven days a week. The cost for the premium of this insurance can be as inexpensive as simply a few dollars a month for thousands of dollars in coverage. What makes it beautiful is that in terms of coverage a little goes a long way and you can enjoy the comfort of being covered without breaking your budget or having to make serious financial sacrifices.
Obviously the younger you are the less you will need to pay since the company anticipates you’ll be paying over a long period of time. Many people under 50 do not think that they should worry about this type of insurance, however, in addition to the less expensive policy, each individual must accept the fact that tragedies happen at every age and it is better to be prepared for every contingency instead of leaving this world saying ‘I wish I had done this differently.
Funeral insurance is a great blessing to those who pass and those who are left behind, as it really takes a load off of everyone’s mind. Your family is not worried about needing to take out a second mortgage to give you the type of funeral you deserve, and you are not worried that they will have to foot the bill in addition to deal with their grief.
Sandy Winslow is a writer on many topics, including personal financial planning. Funeral insurance is an easy-to-manage fund that handles costs related to your remains after you pass.