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Burial Insurance
Though we don’t want to think about it, at some point everyone will face death at some point, and it is important to plan ahead and protect the families in those times.
As most people do not have death benefits in place and government support programs are shrinking and becoming harder to navigate, it is more important than ever to ensure you leave behind all that you can to provide a safety net for the family and can pay for the burial or cremation.
Many families can be left destitute when facing the loss of their provider and it can be impossible to cover funeral and burial expenses while still maintaining a home. By having burial insurance in place you can be prepared for the worst so that your family can be cared for in the best way and spend time grieving their loss rather than worrying about the cost.
What is Burial Insurance
Burial insurance is a type of life insurance that pays out in the event of death to cover the cost of the burial or the cremation.
This policy is paid by cheque to the family, and once those expenses are paid any remaining funds stay with the family for use at their discretion. This can cover the cost of a viewing, transportation, a burial site at the cemetery, or the cost of an urn to hold cremated ashes.
The family makes all these choices and decisions with no restrictions, and as the policy is paid directly to the beneficiary and the family there is no waiting for direct payments to funeral homes or others. These places control back in the hands of those who should have it.
Benefits of Burial Insurance
The benefits of this type of insurance will outweigh the cost, and it should be a regularly held insurance policy.
- fast coverage
- no medical exam
- low-cost payments
- immediate coverage upon approval
- peace of mind
- paid directly to the family
- fast payouts
- premiums never increase
- benefits never decrease
- you choose where and how the burial is completed
- remaining funds remain with the family
Many worry that by the time they consider burial insurance it will be too late and they will not qualify due to their health status. With this insurance that worry is set to rest, as there are policies that require no health exam and can be approved no matter your health condition.
This is peace of mind for those who are aging and want to protect the finances of their families.
With low-cost payments, there are payments available for almost any budget, and the benefits are well worth the investment that is made. The peace of mind knowing there will be one less thing to worry about can improve the lives of those in the entire family and can help to relieve stress both now and later. The fast payouts go directly to the family and can be used where it is needed most. While there may be state coverage for some of the expenses the majority still resides with the family, and funeral expenses are getting higher every year.
There are no yearly increases with the premiums paid, but they remain the same for the lifetime of the policy and the policyholder with no increases over the span of the policy. They also will not find that the benefits paid out will decrease as they age.
As funeral and burial expenses continue to rise it is important to hold a policy that will pay out the full amount in the original policy without any decreases.
Choosing A Beneficiary.
When choosing the beneficiary this is up to the policyholder. As it is paid directly to the beneficiary and not to the funeral home or the cemetery the choices lie in the hands of the policyholder.
Choose the person who is best going to carry out your wishes and protect the financial and mental health of your loved ones, and they will receive a cheque for the full benefit amount soon after their claim is filed. With fast approval, there is no waiting for the payment to be approved before the process can move forward, and you can be laid to rest in a timely manner.
They also have the ability to choose where cremation or burial is to take place, there are no set providers, locations, or demands to this type of policy. Once the money is paid it is in the hands of the beneficiary to arrange detail and use the locations and providers that they prefer.
As expenses increase over time there are going to be things changing and adjustments to be made, with this type of policy any money left after the burial is for the family and can be used as they see fit. By providing the full payment right to the beneficiary there is no one telling them how to spend the money and this can relieve a large financial burden from the family at the time they need it most. Leftover money can be used for home care expenses, debt repayment, or any other needs the family may have.