Anil Kumar's Blog

Is Life Insurance Enough To Manage The Funeral Expenses?

Everyone has to depart one day and the loved ones wish to bid the farewell in the best possible way. At times, the expense of arranging a funeral comes out to be an additional financial burden and [url=https://www.optinsure.com/final-expense]final expense insurance[/url] is made to help with the same. The offered plans are made to take care of all the funeral related expenses and loved ones won’t have to worry about. Also, in this article; we are going to talk about the benefits of a life insurance plan and their relevance in covering burial expenses.
[b]Funeral Products And Services [/b]
There are numerous funeral related products and services that are chosen by different people depending on their religious beliefs and specific preferences. These products include but aren’t limited to Caskets, Burial Vaults, Cremation Vaults, Headstone, Memorial Keepsakes & Cremation Urns, and Flowers. People preferring a burial service will need a casket, burial vault, headstone and a memorial ceremony for the deceased. While people believing in a cremation will prefer a cremation vault and the remains to be scattered in a holy lake. Other services may include transportation the deceased from the hospital to funeral home and embalming the body to preserve for a longer time.
[b]Coverage In Life Insurance [/b]
Insurers providing a [url=https://www.optinsure.com/final-expense-get-quote]final expense life insurance quotes[/url] offer an accumulated amount to manage different types of expenses. This amount covers medical bills, pending debts as well as funeral-related expenses. However, there is a fixed capping on how much can be spent on final expenses. If one decides to spend more on the funeral of their loved one, they will have to take care of exceeding expenses. Also, the insured needs to undergo a medical exam and people diagnosed with serious illnesses might be denied insurance. Moreover, life insurance plans are more expensive than funeral plans and everyone cannot afford the same.
[b]Advantages Of A Dedicated Plan [/b]
Insurance providers and funeral homes are coming up with different funeral plans to cater to different customer requirements. The biggest benefit of having a dedicated [url=https://www.optinsure.com/final-expense]best final expense insurance[/url] is that the whole cover can be used to arrange the funeral itself. On average, a funeral costs around $8,00 to $10,000 and sometimes this may increase depending on the additional services demanded by loved ones. Whenever the insured passes away, the insurers provide the whole coverage amount to the loved ones to manage the funeral expenses and sometimes, they directly pay to the funeral home as well. Moreover, the insured doesn’t need to undergo any medical examination and anyone at any age can get a cover.
[b]Plans Available [/b]
Basically, insurers offer two types of funeral plans with different benefits: Traditional Plans and Prepaid Plans.
[b]Traditional Plans:[/b] These are the most searched plans among the buyers and known for their benefits. Under the offered plans, the insured needs to pay a fixed premium every month and the insurer will take care of all the funeral related expenses. The loved ones are supposed to inform the insurer as soon as the insured passes away and they will directly pay to the funeral home for the total burial expenses.
[b]Prepaid Plans:[/b] As the name says, the insured is supposed to pay the whole insurance amount at once and the funeral home will manage all the expenses. The best thing about these plans is that one doesn’t need to worry about the price hike over the years and the funeral home will arrange everything without any additional charge.

Must be logged in to comment.