A Few Uses of Burial Insurance
John Vorhaus When the person who is insured by burial insurance policy passes away, the benefits typically go to the chosen beneficiary. In many cases, the insured money will be used to pay for the funeral and other related expenditures such as his or her:
- Memorial Service
- Burial Plot
- Transportation
- Flowers
- Obituary
It is really hard for a family to lose a loved one from their group. In spite of the burial costs nowadays in the US, most family members want to give the departed a very grand and well-attended funeral service. The costs related to the funeral service have risen steeply over the decades. Burial costs on an average are known to cost around 5000 dollars and can go as high as 10,000 dollars. This is a large sum of money in the US. It is really necessary for the family to bid a grand farewell to the deceased.
So it is really necessary to choose a great funeral expense policy that can cover all the funeral expenses. Otherwise, family members have to use their savings to pay for all the costs. Also, the remaining amount that gets left over after a person’s funeral can be bequeathed to the beneficiaries. Funeral insurance also comes in handy in helping the family members of the deceased to pay for:
- Mortgage
- Loans
- Education
It is really necessary to make arrangements and talk to your elderly parent or grandparent about funeral insurance. You should find out whether your parents or grandparents would prefer funeral and burial along with a memorial service and cremation. Most elderly people also want to relieve their family members of as much stress and responsibilities as possible. They usually understand that it is important to take care of the different costs that will arise after their death.
It is really hard to start a discussion about funerals and stuff like that to elderly people because it makes them uncomfortable. At the end of the day, these things need to be done and elderly people feel relieved to have found an effective solution for issues like this. For most families, the main concern is to ensure everything gets handled in an easy, stress-free and dignified manner. Obviously, end-of-life plans include things related to funerals, burial services and other tasks that a person has to take care of after the death of a loved one.