Archive for the ‘burial insurance’ Category

Funeral and Burial Expense Insurance

Friday, February 17th, 2012

Although we are uncomfortable thinking about death, especially our own death, planning our funeral expenses in advance is the kindest and most thoughtful action we can take for our loved ones. Most insurance carriers offer funeral and burial expense insurance as a type of basic life insurance.

Just as the name implies, the main purpose of burial insurance is to cover the funeral costs, final expenses, as well as pay off specific obligations or debts.  Other terms that are commonly used to describe burial insurance are funeral insurance, final expense insurance, pre-need insurance and end-of-life plan insurance.

Burial insurance is generally associated with a permanent type of insurance policy (versus term insurance), and the most common permanent policy used is called whole life insurance. Most whole life policies which are purchased to cover funeral expenses range from $5,000 to $25,000.

Although burial insurance is very similar to life insurance, the most common strategy is to own both types of insurance policies.  This way the funeral expenses can be separated from the life insurance proceeds, making your last wishes much more straightforward as to how you wanted the life insurance proceeds to help fund or replace.

The proceeds of a burial insurance policy are a fixed and guaranteed amount. Since these monies remain constant throughout the life of the policy, you always know exactly how much is going to be there in your loved ones time of need. So once you pay your premium, there’s no need to worry from then on, because both the premium price and the payoff amount are fixed for the life of the policy.

The cost of funerals and burials

The National Funeral Directors Association indicates the average cost of a funeral exceeds $6,700 not including medical and legal expenses. However, depending on the type of casket, headstone, and cemetery plot purchased, these expenses can be considerably higher.

According to the American Association of Retired Persons (AARP), funerals and burials are among the most expensive purchases that older Americans make. AARP estimates that the average cost for an adult funeral ranges from $5,000 to $10,000. About one-third of that goes to the cost of the casket, alone.

In addition, an in-ground burial can add another $2,400 to the total cost of final expenses.

Professional services that need to be paid for include:

  • Cemetery plot
  • Casket
  • Headstone
  • Funeral service
  • Visitation/Viewing
  • Minister
  • Hearse

Additional costs are often associated with the death of an individual:

  • Legal fees
  • Doctor bills
  • Pay off debts like mortgage, car, credit cards
  • Legal costs at death (probate, taxes, etc.)

Sources used:

http://www.nj.gov/oag/ca/brief/preneed.pdf

http://insurance.oregon.gov/publications/consumer/3932.pdf

http://pccfa.com/commonquestionsFH.php

 

 

What is Burial Insurance?

Friday, June 11th, 2010

Many of us can see the reasonableness of making sure that we have burial insurance available for our families. Not only is it important so that we don’t put any financial burden on them should we happen to die, it also can take a lot of pressure off of them in having to come up with arrangements on their own. There are a number of different types of funeral expense insurance options that can be purchased, and it really depends upon you as an individual as to which one you want. Here are 2 of the different types that you can choose from.

When you purchase burial insurance from your insurance agent, you’re actually purchasing a small life insurance policy. Upon your demise, it will cover all of the funeral expenses and whatever it costs in order to have you buried. You’re going to need to pay a premium on this insurance policy, similar to the way that you would pay for it on any other. It is possible for you to be able to save some money, at times, by bundling your burial insurance in with other policies that are already held by your current insurance agent. You may also want to shop around a little bit in order to find out if there are any more attractive options that are available.

Another type of burial insurance is not actually an insurance policy but rather, it is just a pre-paid option. These are commonly available from funeral homes, and you can pay everything up front in order to make sure that all of the finances of the funeral and burial will be covered on your demise. This is something that many people find convenient, but you also want to make sure that you can take this type of insurance with you, should you happen to move. It may be a burden if your family has to travel back to the same area in order to hold the funeral because this is where the arrangements are available.

If you have any questions as to what is possible in order to get this burial insurance, it would be a good idea for you to speak to your insurance agent. Not only will they help you to understand which options are better for you, but they may actually be able to point out some options that you had not considered before. Although none of us really like to think about the day of our death, it is better for us to prepare for it in this way then to leave all of the preparations to those that we leave behind.

Taking Care of Your Family with Burial Insurance

Monday, June 7th, 2010

None of us like to consider the day of our death, but it is something that we should keep in mind, even if just for the benefit of our family. The unfortunate fact of the matter is, all of us are eventually going to die and we need to make sure that we do not leave our family in a situation that would prove to be additionally stressful on top of the fact that they are already dealing with the loss of a loved one. One of the best ways for you to do this is to make sure that you are covered through funeral expense insurance.

Funeral expense insurance, often referred to as burial insurance is really just a type of life insurance policy that is smaller in nature than many of the other life insurance policies that are available. Generally speaking, it is available to help to pay for any funeral expenses that may be incurred, along with the cost of burying us. Believe it or not, this can run into many thousands of dollars and it can put a real financial burden on our loved ones, if we happen to die without any burial insurance in place.

Of course, burial insurance, as with many other types of insurance policies does not come in a one size fits all package. As a matter of fact, there are a number of different options that are available to you and it would make sense to speak to your insurance agent in advance in order to discuss all of the options that are available. Since most of them work as a prepayment for our funeral expenses, we would want to choose the one that makes the most sense, along with making sure that we are able to afford the premiums that we will be paying.

I would like to caution you against putting too much weight in any burial insurance that may be available through your employer. Although they may pay for part of the funeral expenses, our family may still be left in the lurch to a certain extent. If your employer does offer this, make sure that you speak to your insurance agent about supplementing the insurance policy in a way that will be most beneficial to your family. If you happen to end up with additional insurance money coming, it could help to balance out any additional financial burden that may be placed on them during this difficult time.

Why Do You Need Burial Insurance?

Wednesday, June 2nd, 2010

Many of us consider it a very important thing to make sure that our families are covered in the event that something should happen to us. This can come in a variety of different ways, and insurance is often something that needs to be considered. Something that should not be overlooked, however, is burial insurance which is, many times, referred to as funeral expense insurance. When this insurance is set up properly, it will cover any funeral expenses that are necessary, along with the cost of burying or cremating you.

One of the main reasons why you would consider burial insurance in the first place is in order to relieve your family of any financial responsibility that would take place in the event of your death. It is important for you to consider this carefully and to make sure that you are covered to the extent that your family would not have to deal with anything during this difficult time. Since there are a number of different levels of burial insurance that are available, it is important for you to make sure that you talk to your insurance agent about the different options that are open to you.

Something that often is a sticking point for many individuals whenever they are considering funeral expense insurance is that they may have some coverage that is available through their work. Although this may be the case, it is also important to make sure that you are covered on your own. After all, what would happen if the company that you’re working for went out of business or perhaps no longer needed your services? We live in a day and age that these problems are occurring on an increasing level. It would be a better idea for you to get burial insurance now in order to make sure that you are covered in the event of the unthinkable happening.

One final reason why you would want to consider burial insurance goes beyond thinking about the financial obligation that would be necessary if it was not available. Funeral expense insurance also releases much of the stress off of your family that would take place if they needed to arrange many of these things during this difficult time. If you think about it in that way, getting adequate burial insurance is really more of an obligation and a way to show your family that you truly care about them.

What is a burial insurance policy and why you should opt for it?

Thursday, April 22nd, 2010

These days, people are insuring anything and everything from their cars, houses, jewelry, pets, their health and other assets. The burial insurance is the latest type of insurance which people are getting nowadays. I know it is weird and uncomfortable to think about your funeral, let alone actually plan for it! However, it is one of the most practical decisions you can ever make in life. By getting the burial insurance you are actually relieving your loved ones from the extra work when they will be grief stricken. I know of your children and your spouse would be definitely overwhelmed when you informed of your plans.

There are many people who are lessening this burden quite early in their life by getting a burial insurance. Relieving your loved ones of the stress is one aspect of this insurance; the other aspect is that you would be exactly aware of how will you be taking leave of this world, which will give you a sense of satisfaction. It would also not leave any scope for any misunderstanding among your loved ones as to who is going to pay for the burial plot and other things. If you have not ever given a thought to purchase a burial insurance and are therefore clueless about the same, I am here to guide you. There are actually several ways in which you can gain quotes and the purchase policies. Almost all of the major home, car and also the life insurance companies are bound to offer some kind of the end of life coverage. However, it should be noted that these policies may not be cost effective. Therefore, I suggest that way on the Internet about the different companies and the coverage provided by each of them, so that is the easier for you to submit the most appropriate package for your family and yourself.

It should be noted that for the past decade the cost of funeral and are increasing and this trend is bound to continue for several years to come. One of the most important benefits of getting a burial insurance is that you will be able to decide and fix the price of the funeral regardless of when you die. You can also have the kind of ceremony which fancies you. You will be able to decide the things like the kind of casket you will be laid on along with the suit in which you want to sleep. You would also be able decide on the headstones and cost of the burial spots along with many other things. These are the reasons why many young adults are opting for burial insurance so as to not burden their family members with the expenses.

This also implies that you will be independent to your very end and will not only live but also be buried in the fashion which you want.

Burial insurance- Have you considered a burial insurance policy?

Monday, April 19th, 2010

If you carefully observe people and the points of their discussion you will find that many of them speak of insurance policies. With the rapid change in the earth today everything is taking place at a faster pace. There is a lot of fear and hype that surrounds the words death, burial and funeral, most folks are carried away with the cares of the world and fail to make provision for the same. Instances like this and the events that follow are pathetic, it is sad to see the family members of any irresponsible person struggle with burial expenditures and funeral procedures. In order to avoid all this inconvenience it is better to search for the best burial insurance policy around and invest in the same. Different states offer different burial insurance policies, even though the situation at hand is sorrowful it does not eradicate the need of expenditures related to burial. It is expedient that you invest in some type of burial insurance policy or the other at the earliest, time is too short and no one can predict what will happen when.  

If you take a close look at funeral expenditures these days it’s no joke, funeral costs are skyrocketing as well. There are several details that one needs to keep in mind when it comes to investing in a burial insurance policy as well as burial procedures. If you go online you will come across numerous quotes on burial insurance, different companies have different rates to offer. At the time of burial if any of the insurance amounts is left over it can be used to pay off any deaths that the deceased may have left behind. This amount is handed over to the family members for disbursement. If the overall cost of a burial is calculated it can amount to quite a bit, one must consider the burial vault, flowers, funeral vehicle charge, grave digging, the plot, the grave marker and the other minute details. A burial insurance policy is more like a savings account; one can choose the pattern of the funeral ceremony as well as the accessories for the funeral. The rates do not change no matter how long death occurs after the purchase of a burial insurance policy.  

As you go about looking for burial insurance policy rates chalk out carefully how much insurance is required. It is a good idea to also check if there are additional state laws that require to be adhered to during burial. It is possible for you to scrutinize the details of any of these contracts before you decide on one. You should also be carefully to check the cancellation of the burial insurance policy you intend to invest in, make sure every document is filled and signed in your presence. If you have been taking the issue of death lightly then it is time for you to make a few conscious decisions and seriously consider investing in a burial insurance policy in order to save future problems.

Burial Insurance- Plan Burial and Funeral services way in advance

Thursday, April 15th, 2010

There are scores of expenditures in today’s day and age, life is as complicated as it can get. When it comes to insurance there are heaps and heaps of insurance policies out there. Everyone is really worried about the present and near future, a majority of folks are beginning to look beyond even to the point of death. Things are happening around so quickly that it is better not to be caught on the wrong foot; there are many temptations in the earth today that draw the money out of people’s pockets. Many people work hard but do not have wisdom when it comes to rightly handle the money that they have earned. Did you know that you will die one day? In case you have prepared for this there is no problem, however, if you have made no provision for either your funeral or burial then there is a major problem. It is very important to invest in a burial insurance policy in order to have smooth burial and funeral procedures. It is a fact that burial needs a certain amount of preplanning, the quicker you work in this direction the better.

If you have not cared to look at a burial insurance policy then it is time to do so.  Serious consideration needs to be given to this aspect of life; it is a final payment which needs to be carried out perfectly. It is advisable to look online at all the various burial insurance policies that are being offered by the different insurance companies, some of these partly cover burial insurance, a policy like this is not recommended. Many folks are seriously contemplating and even purchasing burial insurance policies, some of these policies give the buyer an opportunity to even plan the burial or funeral programme in advance. This is a good practice as it avoids last-minute confusion, another good aspect about a burial insurance policy like this is that a person gets to choose which accessories they would like to use during the funeral programme. For more information on burial insurance policies you can go online, this is the final expense a person has to bear before passing through this journey called life. Most of these services can be purchased at the current rates; these rates are not altered at the time of execution.

There is nothing complicated in applying for burial insurance policy, it is pretty much like all the other insurance policy patterns with the formalities being almost the same. Normally a total is drawn up based on what the buyer can afford; the required services can be chosen at this point in time is well. It is also possible to prepay for funeral services according to the law of a particular state. The cost of the burial insurance policy covers the grave plot, flowers, coffin, embalming, hearse and grave marker. After all these expenses are met and there is surplus money from the burial insurance policy it can be diverted to paying off debts which may have been left behind by the person who has passed away. A burial insurance policy is one sure way of knowing that a decent burial or funeral service is lined up.

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