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Get Peace of Mind through Burial Insurance

While it may be unpleasant to think about, most people want to be sure that family members are taken care of after they have passed on. Not only that, but it can be important to be sure that all funeral expenses will be easy to take care of and do not put an unnecessary strain on the family. Most believe that life insurance alone will take care of this, but it sometimes isnít enough to take care of funeral expenses as well as any other expenses that may be incurred. This is where burial insurance can provide a cushion, and help to ensure that everything is easier to take care of.

Burial insurance is exactly what it sounds like an insurance policy that is meant to help provide money to cover funeral and burial costs for one person or for a person and their family members. This type of insurance is typically a whole life insurance policy, meaning that your premiums are fixed for life and will never fluctuate. This type of insurance is usually available for anyone from birth and up to the age of 85 years old. Itís fairly easy to get, only a few health-related questions have to be answered and no medical exam is required. The payout may range from $5,000 to $25,000. Any funds over the amount that is charged for the funeral are normally returned to the deceasedís family or estate after funeral expenses are paid.

The premium for burial insurance may be due on a weekly or monthly basis. The amount due for the premium is typically a very small amount, for example $2 to $5 per week. The amount that the insurance will pay out depends upon what the premium paid will buy at the insuredís current ago. The payout amount is usually higher for younger or healthier family members.

Those that are interested in purchasing burial insurance can often buy it through brokers and agents of insurance companies that offer life insurance. Funeral homes may also be licensed to sell this type of insurance in certain states, but itís not as common. A person may also be able to work directly with a funeral home in order to pay for all of their funeral arrangements ahead of time, and lock in the price available at that time. This includes paying for the casket, grave plot, headstone, flower arrangements, and other items. This option also allows people to control what their funeral will be like, and theyíll know that theyíre getting what they wanted because it will all be picked out ahead of time.

If youíre interested in buying burial insurance, there are some important points to keep in mind. First, be sure to discuss the option with your family and lawyer to be sure that itís consistent with your will and the plans that youíve made for your estate. Next you may wish to see how much of the planís value you will actually receive in death benefits. You may also wish to make sure that the funeral arrangements you set forth can be moved to any funeral home, just in case you move.

Unfortunately, funeral costs have been rising steadily. According to the American Association of Retired Persons, funerals are one of the most expensive purchases that older Americans will make. The cost for an adult funeral averages around $5,000. For an in-ground burial, an additional $2,000 or more can be tacked on to the overall cost. Add on to this all of the items that may be needed, and itís easy to see how the price can be extremely high. Itís because of this more and more people have become interested in burial insurance over the past 30 years.

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