- In most cases, burial insurance is referred to as a whole life insurance policy. The death benefits can range anywhere from $5,000 to $25,000. Burial insurance is a separate policy from your life insurance and specifically covers all funeral and burial expenses. A typical burial insurance policy will cover the cost of cremation or burial, a casket or an urn, the cost of embalming, the headstone, a hearse or any other type of vehicle needed for transportation such as a limo, the opening and closing of the grave, flower expenses and the actual plot. Before you can purchase a burial insurance policy you may need to answer a few questions about your health, there's usually no examination needed though.
- Luckily, burial insurance can be very inexpensive for your family. Because burial insurance is so inexpensive you can find many policies that charge about $2 to $6 weekly, this usually depends on the amount you have chosen and your age. Of course the younger you are, the less you pay in premium costs. The nice thing about burial insurance is that you can purchase it for the entire family for a slightly higher cost.
- When purchasing burial insurance, purchase through a trusted broker or your insurance agent. In some states you can also purchase burial insurance through a funeral home. Another route is to purchase what is called a "pre-need." This is not an actual burial insurance policy. Pre-need is a very cost effective way to pay for your funeral ahead of time. When you pre-pay for your funeral, you can take care of things such as the casket or urn, the flowers, how you want the services handled, the headstone, the burial plot or plots, the opening and closing of the grave and any extras you may want to add. Some options will even include programs and thank-you cards for guests.
- Planning your own funeral or preparing yourself for it may seem very surreal or even morbid. No one likes to think of her death, however it is inevitable and planning ahead is the best thing you can do for your family. There is nothing worse then leaving a family behind with nothing in the way of insurance. It is very important to make sure everything is handled accordingly so your family's needs will be taken care even after you are gone.
- It could be difficult for your family to make decisions about your funeral and burial in the days following your death, but getting pre-need burial insurance allows you and your family to make level-headed financial decisions about your funeral service. It also gives you the opportunity to ask more questions and make important decisions about the day. Finally, burial insurance allows your family to use the money from the policy solely for the purpose of your funeral and burial. That gives them the benefit of using any life insurance policies you may have for their living expenses after you are gone.
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