利用者:CoedBucklin2021

As a continuation to the previous article which discussed about what is funeral insurance and its types of coverage for funeral expenses, here are some more additional information about paying for funeral insurance and and some of its pros and cons.

Paying For Funeral Insurance

Paying for your funeral insurance cover depends on the type of policy or contract you have bought. This may either be in single, lump-sum payment, or continuing monthly payments. Usually, a contract with a funeral home in all likelihood includes a payment plan.

The kind of payment schedule you may have will be determined by your coverage:

Single-Premium Policy - In this policy, you will be required to pay a single lump-sum payment. Once paid, you will have immediate coverage for the full death benefit. This is usually offered to people who are over 70 years of age. Graded Death Benefit - In this policy, the coverage amount you have to pay increases over time. For example, if you bought a five-year payment policy, your death benefit may be 30 percent of the face amount in the first year, 70 percent the next year, and 100 percent thereafter. Traditional Whole Life Policy - In this policy, the coverage amount remains the same as long as you pay the premiums. However, if you stop paying, coverage ends.

Pros and Cons of Funeral Insurance

Though funeral insurance is not as costly as paying for the entire funeral costs, it is still another financial burden especially in these times of uncertain economic climate. So here are its pros and cons that would help decide in actually taking out such a policy now:

The Pros:

Having funeral insurance will ensure that the cost of your funeral will be paid for in advance. This eases the financial burden on your family who is left behind.

Having this insurance will also ensure that you will be provided with a decent wake and final resting place. In this way, your family's grief will be eased as they will not be burdened anymore of arranging for your funeral. Likewise, your death will not be as worrying to you as you will be assured that you will be provided with a decent funeral arrangement.

it provides you the opportunity to actually plan your funeral service well in advance. This will provide you the chance to decide the way the service will be done and the way in which you would like people to commemorate your life.

The Cons:

It is of great advantage that the premiums charged on this type of insurance are less than those charged for life insurance. However, in the long run, these may not really be beneficial to you. This is because there are some policies that do not really cover the total cost of the funeral service when the inevitable happens.

There are also certain funeral services that are available now that may not be any more available in the future. So if you want some kind of outlandish funeral service, you shouldn't be looking to use this.

Some funeral insurance policies may only allow people to take it out if they are aged between 18 and 85. So make sure to learn if there is an age limit applied to the funeral insurance that you are going to buy. 横浜市　霊園