Is Burial Insurance Right For You?
Burial insurance is a product that can be purchased online, through an independent broker, or sometimes, via a funeral home. It is used to alleviate the financial burdens placed on family members after a loved one passes away. It can reduce the strain and pressure put upon these individuals to come up with thousands of dollars in a short amount of time. After all, funerals are quite expensive today.
According to an article posted on Parting.com, a traditional North American Funeral costs between $7,000 and $10,000. More and more people are choosing cremations these days, but a conventional funeral is still the most popular choice. Prices vary by location and from one organization to the next, but to give you an idea of what to expect, here are some realistic costs for some services.
- Funeral Director Fees - $1,500
- Embalming - $500
- Headstone - $1,500
- Casket - $2,300
Don't Leave Your Family Members To Shoulder These Expenses
Persons beginning to get on up in age should consider purchasing a burial insurance policy. It will provide them with the peace of mind in knowing that their loved ones won't have to take out loans to cover their final expenses. Additionally, by buying this coverage, you can plan your own funeral. Thus, more decisions are eliminated from the equation for your family members. Then, they will have the ability to grieve and mourn without worrying about where the funding for the funeral is going to come from.
Name The Beneficiary
The insured can handle naming the beneficiary in a couple of different ways. In some cases, the funeral home can be named as the recipient. Then, after your passing, everything is already taken care of, and the preparations can get underway quickly. In other instances, the policyholder can name their significant other, child, or someone else the beneficiary. They are entitled to the full sum and can do with it as they please.
The payout will depend on which plan is chosen. There are plenty of options available on the market. They usually have affordable monthly payments and are regularly for amounts between $2,000 and $25,000. However, some companies offer packages for as much as $50,000 to $100,000. Be sure to examine the contract thoroughly to see if there are any commission fees. It is also a good idea to see if the money must stay within a specific funeral home or if it can be transferred to another one of your choosing.
Interested applicants don't have to fret about being denied for burial insurance. They do not have to visit a doctor, get blood work done, or pass a physical. Rather, the candidate only has to answer some questions regarding things such as smoking, age, and any severe conditions. In other words, it is extremely easy to get a burial insurance policy. So, don't delay any longer. Instead, whatever your reasons are, get the coverage that you need and deserve today. You and your family will be happy that you did in the long run.
Contact our office today for all of your burial insurance needs.