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Should One Bother With Burial Insurance?

Who will pay for your funeral? Thatís a question most people donít want to consider because the thought is too morbid and depressing. Yet funerals get more expensive every year and can easily put a mourning family into debt. Burial insurance is a great way to secure a decent funeral and burial for oneself while also protecting their loved ones from astronomical out-of-pocket expenses.

What Is Burial Insurance?

Burial insurance pays for a buyerís final expenses, including their cemetery plot, casket, headstone, funeral service and viewing costs, minister, flowers, hearse, legal fees related to their death, outstanding debts, doctor bills, and much more. It is whole life insurance with a death benefit, where there is a certainty that the insurance will be used rather than a possibility. The insurance is good up to a certain amount, such as $10,000. Some insurance companies limit funeral expenditures at $25,000.

Most burial insurance companies guarantee coverage regardless of a personís age and health and do not require a doctorís exam. There is no waiting period for the insurance to go into affect and premiums donít change over time. Policies can be purchased for an individual or for a family. Some burial insurance companies only allow the money to be used for burial and funeral costs, but other policies allow beneficiaries to spend the money on anything they need.

Why Should Someone Consider Burial Insurance?

Funerals are very expensive, averaging about $5000. That doesnít even include the cost of burial! One doesnít want to burden their loved ones with these expenses.

With burial insurance, the deceasedís loved ones will not have to tap into their life insurance policy or savings account to pay for death costs. People donít often consider their funeral costs and debts when they decide how much life insurance to leave their family.

These policies can be purchased for as little as $2 a week, and provide peace of mind. This is especially true for low-income individuals, who might be able to afford a small premium each week but couldnít shoulder the cost of a funeral. This ensures that they will be able to have a respectful burial when they pass away.

How Does One Get Burial Insurance?

Some burial insurance policies are offered by insurance firms and are popular in inner city and poor rural areas. In some cities, an insurance premium collector still comes by peopleís homes to collect their weekly payment. Funeral homes sometimes sell burial insurance as well.

There are many burial insurance providers on the Internet. Itís easy to compare prices, policies, and services offered from an array of provides with just the click of a mouse.

Buyers must be wary when purchasing a burial insurance policy and should do their homework before signing anything. There are many scams out there, as well as companies that charge much more in premiums than the buyer will ever use to pay their expenses.

Before buying burial insurance, an investor should learn his or her stateís laws regarding pre-need insurance. Florida, for example, has strict limitations on the programs and has even tried to ban them outright due to extensive scams. Some states also have a ďfree lookĒ policy where they will look over oneís policy and make sure everything is legal before they sign the documents. One should never accept documents that have been pre-filled for them.

Burial insurance is a great way for an individual to feel at peace with being laid to rest, knowing that their family wonít be burdened by their funeral expenses and that they will receive a proper and respectable funeral. There are many choices out there for coverage, and with a little research an investor can find a policy that fits them just right.

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