Have You Considered Funeral Insurance?

Have You Considered Funeral Insurance?

Most people will agree that it’s always a good idea to plan for the future. People applaud “long-term thinkers” that start putting away money for future investments or get a life insurance policy. But when it comes to thinking about what happens near the end of life, or even afterward, that’s when many get a bit skittish. Some people think that putting aside some time to think about death is morbid. In truth, depending on the approach you take, it can be just as considerate toward your family as thinking about life or medical insurance. 

But how can it do this? This type of thinking can be incredibly productive if you start thinking about your funeral needs, and how funeral insurance can make a difference. 

What Is Funeral Insurance? 

If you’re wondering about funeral insurance, but you’re not exactly sure what it is, we’ll explain. Life insurance is, in truth, not really an accurate description. While it’s true that you pay your premiums for life insurance, the money itself is paid out after your death. Life insurance may not last your whole life and may expire after a term, with 30 years being a common number. 

Funeral insurance, on the other hand, is exactly what it sounds like. This is an insurance policy that pays out when someone passes away. And it has one primary goal; to provide financing for the funeral arrangements themselves. This can consist of a broad range of needs such as: 

  • A Burial Plot/Site Care 
  • Coffin/Cremation Urn 
  • Embalming 
  • Gravestone 
  • Hearse/Transportation 

A funeral insurance policy can cover some, most, or even all of these different aspects of the funeral experience. It’s important to note that if you’ve never done any research into what a funeral costs, you should be prepared for a shock. A modern, 21st-century funeral that is dignified, respectful of the deceased and uses quality products and services is not a $100. It is not $1000. Is not even $5000. The average funeral in the teens of the 21st century may be $10000 or more. Without funeral insurance, that is a cost that those you leave behind will have to bear themselves, and they’ll find out they have to do this just as they’ve lost you. In other words, if you don’t think about your funeral, and how to take care of it, one of the last memories you leave to your loved ones is that you saddled them with debt. 

Funeral Insurance Makes Sense 

If you don’t want to burden your surviving loved ones with the administrative and financial requirements of overseeing your funeral, you can plan ahead of time. One option is to simply set aside your own savings for a point in the future. If you still have active life insurance, you might also consider using some of that to cover funeral costs. 

However, funeral insurance, being so specific and tailor-made to financing a funeral is often the best alternative. This is especially true if you’re already nearing the end of your life insurance term. With funeral insurance, certain factors like pre-existing conditions or other medical concerns that might bar you from life insurance are still negotiable with funeral insurance. It’s just a matter of getting the right policy. 

Making The Right Choice 

Whether you want your funeral insurance to be paid in a lump sum, or you want a traditional premium system or even a graded policy where the value of the policy goes up over time, Living Legacy can help! Contact us today, and we can sit down, go over your needs, assess your current situation, and come up with the funeral insurance policy that will do what you need it to. 


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