Funeral Insurance

A funeral insurance policy, also called a burial insurance, is designed to provide coverage that will cover the amount that a family needs when their loved one pass away. This policy cost just a minimal amount monthly but it will pay enough to ensure that the arrangements for your funeral are paid for well in advance.

It could take care of details such as the funeral service, flowers, casket or coffin, the preparation and embalming, the funeral home, church, transportation, opening and closing of grave plot or site, headstone or grave marker, and even the obituary inside the newspaper. So, you see there are a lot of arrangements that need to be made by family after death. This is why some people buy insurance from funeral home so they take care of everything properly and family doesn’t need to involve in it a lot.

Types of Coverage and Cost:

There are different policies for funeral insurances and they usually pay out full benefit. However, the insurers don’t have a standard type of burial or funeral insurance policy and the coverage amount varies and will depend on the amount that you want to pay for the final expenses. Thus it is tough to mention a specific amount that you need to pay monthly for burial insurance, but approximately a senior up to 80 years should get decent coverage including all basic features and benefits by paying $10-15 per week.

You could buy a burial insurance plan from a funeral director or insurance broker. This policy can cover specific products and/or services. This is always a difficult task to calculate the amount of coverage you need. This is why it is wise to have a consult with local financial agents and make sure you discuss everything with them. They might help you to get the suitable policy as well. To be on the safe side, make sure you are purchasing a policy which at least covers all basic features.

Another option is a life insurance policy with a family member as the beneficiary. Some life insurances provide coverage for funeral expenses, but you could also get a life policy just to cover your burial expenses.

There are also burial insurance for seniors that allows the funeral director to be named as the beneficiary. For this type, you could pay for only a part or your entire funeral expenses. The death benefit would go to the funeral home exclusively.

It is also possible to have a pre-need contract with a funeral home. With this you would get cover for most of the services/products. You can always explore the internet for free quotes from various sources and then compare to find out the best price.