What is a Burial Insurance Policy?

Have you priced a burial insurance policy yet? While no one likes to think about loved ones dying, consumers today need to do as much pre-planning for this final expense as they possibly can. It is estimated today that on average a basic funeral easily exceeds the $10,000 mark.

With social security and inadequate life insurance policies only covering a portion of this expense, many consumers are looking for away to make this final expense easier for left behind loved ones to deal with. They are doing this by purchasing what is called a burial insurance policy which gives the consumer the flexibility of basically pre-planning their funeral.

With having the ability to pre-plan a funeral not only does this help loved ones left behind but, it also allows consumers to pre-purchase some services at today's cost. This type of insurance policy also gives the loved ones left behind the flexibility in paying off remaining debts or expenses left behind by the deceased.

So, how does this type of insurance policy work? Setting up this type of policy is basically the same as setting up any other policy. A total coverage amount is chosen based on what the consumer can afford to pay and then the services covered are chosen. Depending on what the individual state's laws are many funeral type services can be pre-paid for with one of these policies.

Some of the expenses covered can be the casket, crematio

n, embalming, grave marker, flowers, funeral vehicles, and the cemetery plot. Any monies left over after having this services paid for can then be used for any other expenses or debts that the deceased may have left behind like credit cards, mortgage, legal fees or doctor bills.

The burial insurance policy can also insure that the deceased receives the funeral that they would have wanted while, leaving monies available for loved ones to take care of any other final expense without having to cut into their inheritance.

Before purchasing a burial insurance policy in your state, it is important to find out what the state laws are concerning these types of policies. It is also important to verify the license of the funeral director that your will be planning your services with. Also, make sure that your policy can transfer in case you are relocated or have to move anytime before your death.
While no one likes to think about losing their loved ones, it is important in today's world that consumers realize the final expense of a funeral can be a huge burden for anyone to endure. But, by obtaining a burial insurance policy and having some of the funeral services pre-planned can help relieve unnecessary stress for your loved ones to deal with when the unfortunate event occurs.