What You Need to Know About Funeral Insurance

Funeral insurance covers the cost of funeral arrangements and services. The idea of having a funeral planned and paid for in advance is a great comfort to many people who don't want to leave the burden to their loved ones after their death.

What Funeral Insurance Covers
There are many different kinds of funeral insurance policies, and most plans are offered through a life insurance agency or even a funeral home. When you purchase a funeral insurance policy, you can generally tailor it to cover all or most of the funeral expenses incurred. Most plans cover the cost of a casket or urn, burial plot or cremation services, headstone or marker, embalming services and funeral vehicles. Many plans also include the cost of flowers, as well as digging and filling a burial plot, which is often a separate charge from the cemetery.

The policy can usually lock in funeral prices at the current rates; therefore, the funeral expenses will be affordable as the years go by. Another advantage is that you can make arrangements for exactly how you would want your funeral to be and make decisions that will spare your family members from unnecessary issues in their time of grief. Funeral insurance works like other insurance policies in that you select a policy and then pay on it. Some plans require a lump sum payment while others make payment arrangements. Most policies are for a single person or a married couple, but policies can be expanded to cover several family members if needed.

Before You Buy
When shopping for funeral insurance, always research the agency holding the funeral insurance policy. Get all agreements in writing, and keep the documents with other important papers. Be sure to tell family members of the policy and show them where the paperwork is kept. Find out before signing anything whether the funeral services are transferable in case you move. Also, find out about any cancellation policies as well as fees and refunds of funeral expenses.