• Burial or final expense insurance is permanent and either partially or totally pays for funeral costs.
  • Insurance premiums usually never change and they may accumulate cash value.

Rising funeral costs and the need to plan the exact casket or urn, flowers and burial service means that people are increasingly seeking insurance and planning to cover their final expenses. Even if you have a life insurance policy, there may be reasons to add this coverage.

A prepaid funeral will allow you to take advantage of today’s funeral prices and not deal with the inflation of costs in the future. It’s often a good idea to purchase funeral insurance policies from a life insurance agent and most policies are capped at a specific dollar amount.

Funeral insurance is a great way for you to prepay your final arrangements long before the need arises. This type of insurance coverage will allow you to plan the details and services you would like for your funeral and pay for them in advance. It also makes it easier on your loved ones in their time of need.

Final expense policies are generally for relatively small amounts of money and funeral homes may take the endorsed policy as payment for their services. Of course, any remaining funds would be returned to the beneficiaries and any shortages would need to be paid by them.

A small policy just for your final expenses can alleviate problems with a larger life insurance policy. For instance, say you have a $300,000 life insurance policy but it takes your beneficiaries a week or two to receive the funds. A situation like this would require that your family pay for everything out of their own pocket while they wait for the larger insurance policy payment.

Before buying a policy you’ll need to choose a beneficiary. When you buy your policy, it’s a good idea to supply updated information to your family and friends. The information should include the names and contact information of insurance agents and people who have copies of your will and other legal documents.

You should buy final expense insurance with care from a reputable agent. Policyholders across the U.S. have faced many funeral insurance scams by dealers who prey on the elderly and charge premiums beyond the actual costs of the planned funeral.

Call Jeff Pennington today at 1-877-221-6198 to discuss your needs and get a selection of final expense insurance quotes for your situation. Jeff can answer all of your insurance questions and will provide friendly personal advice.