You Cannot Stop Death, Make It Less Painful For Your Survivors
Death is terrifying to most people. It is the one thing that no one can avoid. When you get older, though it can be a welcome friend coming to deliver you from pain. The biggest thing is to avoid giving your family pain. You cannot avoid the grief they will endure. You can take some financial worry away though.
With the average cost of a funeral being nearly $8000 and can go up from there, you need to plan. If we knew the day, we would die we could save and make all the arrangements. None of us knows. Too many times death comes as a shock.
With death comes a flood of bills for your family to take care of. With everything from last-minute medical cost to the expenses of the funeral arrangements to consider. You need to think about it. I know it is the last thing you want to think about. Consider what your family will go through if you were to pass suddenly.
This is the major reason to get funeral or burial insurance. So let’s look into the reasons in more detail.
You will die. The only question is when and how. If you care for your family, you need to help them survive your loss. If you are wealthy, money may not be their biggest problem, but for everyone else it is a problem.
It may tie your estate up in court for years. Depending on the cause of death, your life insurance can be delayed months or years. Will they have enough liquid assets to survive until then?
You Need Flexibility
Funeral insurance (otherwise known as burial insurance) may be used for any purpose you decide. It can be for paying the medical deductibles for your final hospital stay, or even for the funeral itself.
Covering the cost of the wake of paying for the transportation of people to come to the funeral. Do not forget housing and feeding the people. We often overlook these extra costs when you do the initial planning.
One thing you can do is make pre-arrangements with a funeral home. Selecting what you want in the service, the casket, the burial plot and dozens of other possibilities. If you do not want at the time of death for the family to be daunted by those challenges, you may arrange for them yourself.
You can then put the funeral home as the beneficiary of the policy. The home then will follow the agreed-upon plan without having to put extra stress with the family.
Most funeral insurance plans have fewer health restrictions. They rarely require a physical exam to get the insurance. They will have a medical questionnaire for you to fill out. This is what they base your insurance rates upon.
Word of warning, be truthful in answering these questionnaires. If you lie and you die from one of the conditions, the whole policy may be denied. They can even come and try to get the money back it paid. This will do more damage to your family.
The policy amounts are smaller than most life insurance policies. With amounts running from $10,000 to $ 50,000. These size policies rarely get delayed like standard life insurance. Payment is within a few days of getting a death notification from a hospital. Life insurance policies require a death certificate to pay out to the beneficiaries. This can cause a delay of weeks, months and sometimes even years, from the time of death. You can have the hospital sends the notification to the insurance company for funeral insurance. This will release the funds.
Gift the Money. One thing you can do with funeral insurance is to give a specific person the benefit allowing them to do what they want with the money. It does not have to be for the funeral.
While not requiring a physical and relying on health questionnaires. It is easier to apply for funeral insurance. Often the policy will be accepted within a few days of application. Since you do not have to wait for the physical results to get to the insurance.
Affordability, since the payouts are smaller the premiums required are easier to budget into limited means. As you get older standard life insurance gets costlier by the year. Funeral insurance is a fixed rate until you die.
When you assign your benefit to a trusted friend or relative, it would not matter if the funeral home you picked went out of business. Your heir will set up everything with a new funeral home.
One thing to consider is what happens if you move. Make sure the beneficiary is not locked into a specific location. So if you have the mortuary as you beneficiary the money will be stuck with them. This will entail considerable complications to transfer it to a new local.
The emotional reasons are just as important. You want to protect your family from the sudden bills that come when you die. The stress of your passing will be made so much worse when they have to struggle to come up with the funeral costs.
You worry about people trying to take advantage of your family when they are grieving. It is not just the money. There are those who will manipulate and exploit those who have just suffered a loss.
It is for you. Dying is a terrible time unless you pass suddenly you get to watch your family trying to cope. You see their tears. Try to make it easier on them.
It is because you love them.
Golden Memorial: A business that feels like a family.
For 30 years Golden Memorial Insurance has worked with Lincoln Heritage Life Insurance Company. Becoming the nation’s leading Final Expense Agency. Started by our founder Ray Barragan Senior and continuing with the hard work and dedication of his children Ray Barragan Junior, Ann Marie Barragan, and Andrew Barragan.
Golden Memorial strives to give the same family values as our father. This is why we push to give the absolute best customer service in the industry.
“Take care of those who take care of you.”
This is our motto and each and every day we recommit to serving you and your family like you were one of us.
Originally we started in 1963 as Barragan Insurance Marketing and we incorporated in 2009. Currently run by Ann Marie Barragan, we have one of the best records in the industry. It is how we treat you like family.
In case you need to contact us here are our numbers