Checklist for Buying Funeral Insurance

By
Services for Real Estate Pros with Think Glink Media

According to the National Funeral Directors Association, the average funeral cost is now $6,560. Do you have that kind of cash available? If you don’t have life insurance to pay for final expenses, insurance earmarked for a funeral or burial can help direct the money according to your wishes.

It's not a fun subject to consider, but insurance expert Linda Rey explains that funeral insurance can make a big difference at a very difficult time for a family. 

State laws allow funeral home directors to sell pre-need insurance to those who want to plan their funerals. The funeral director writes the policy, files the claim, receives the policy benefit amount, and carries out your wishes per the arrangements made in advance. Before you sign anything, review with the director what happens if you change your mind or decide to use a different funeral home. Pre-need insurance laws vary by state. For example, New York does not allow the sale of pre-need.

You also have the option to make prearrangements with a funeral director and establish a trust that is funded with cash. The money is held in trust until your death and is then dispersed to the funeral director.

If you or a family member are considering funeral insurance, check out Linda Rey's full blog, which includes a checklist of points to think about before you buy a plan: http://insurance.equifax.com/2010/12/checklist-for-buying-funeral-insurance.html

 

 

 

Ilyce Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.com, The Equifax Personal Finance Blog and CBS Moneywatch She is Chief Content Strategist at RealtyJoin.com, a community for real estate investor

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Groups:
Addicted to Active Rain
Almost Anything Goes
Dedicated Bloggers
Tags:
funeral insurance
financial planning
elder care
insurance
funerals

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the envelope to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the folder to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
1,398,273
Tom Braatz
Re/Max Realty Center 262-377-1459 - Oconomowoc, WI
Waukesha County Realtor Real Estate agent,Waukesha

Thats one thing most people dont want to face. Aways thought it would be best to be cremated and have one of the local gun clubs shoot me out of a cannon over their grounds.

December 16, 2010 04:25 PM #1
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the camera to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
362,682

Ilyce Glink

Best-selling author, award-winning TV/radio host.
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the music-note to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase: