Today, funeral costs are continually increasing and often current life insurance plans are not sufficient to cover funeral costs. In fact, the average funeral has doubled in the past 15 years. For this reason, more people are now discovering the benefits of planning ahead for their funeral. Putting your affairs in order and pre-planning funeral arrangements is a responsible decision. The purpose of planning ahead is to make sure all issues, such as outstanding bills, are resolved. Then there can be a meaningful funeral to commemorate one’s life rather than having one’s loved ones worrying about how they will pay for the funeral. It relieves the financial burdens involved with planning a funeral. One of the best ways to plan ahead for a funeral is to buy Funeral Insurance.
When you buy funeral insurance, you will be financially protecting your family and other loved ones by covering the costs of the funeral that includes the burial and service. Your loved ones do not have to pay for the funeral. Under a final expense plan, you name a beneficiary to take care of the arrangements or other expenses with proceeds paid by the policy at time of death. Under a pre-need funeral insurance plan, the money is paid directly to the funeral home that was selected in the prearrangements. Most funeral insurance policies can vary in value from $5000 to $20,000. They are available to anyone at any age. Also, a funeral insurance policy with its death benefit growth would insure that proceeds of the policy will be there to cover any possible future cost increases.
An important benefit of funeral insurance plans is they are accessible and affordable for everyone. You can acquire a funeral insurance plan and pay monthly funeral insurance premiums. This means the cost is spread out making it affordable. It is normally paid out monthly for a year rather than paying one lump sum. Funeral insurance plans are available that can spread payments over a period of one, two, three, four, five and even 10 years. In addition, you do not have to take a medical exam so those with pre-existing conditions can buy the insurance.
Funeral insurance can be used to pay off extra medical costs and other associated expenses so loved ones are not stuck with high outstanding bills. In addition, funeral insurance can be used to leave money for important things such as living expenses, college tuition, etc. The funeral insurance policy beneficiary will not have to pay any taxes on the money. Also, the funeral insurance application is normally processed and issued quickly.
Funeral insurance is a smart investment for everyone because we never know what can happen in life so it is important to plan for the unexpected. With a funeral insurance policy you will be assured that your loved ones have the money necessary for a proper funeral and other expenses. Funeral insurance provides the peace of mind knowing that our loved ones will not be burdened with overwhelming amount of debt. It is a wonderful gift to leave loved ones and a sound investment.
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