Are you beginning to think about the future and its cost to your loved ones? Are you wondering if it’s time to think about funeral insurance?
Maybe you have friends who are making funeral insurance plans, and you think it may be a good idea. Or you simply want to leave a legacy of taking good care of those who matter most to you, even after you’re gone.
Here’s what you need to know about the right time to purchase a funeral insurance policy.
What Is Funeral Insurance?
Funeral insurance is a policy that you’ll take out now that will cover your funeral costs when you pass. It will pay a lump sum almost immediately upon your passing. Your funeral insurance policy will remain in effect until you die, provided that you continue paying the premiums.
It will cover costs associated with the funeral that includes things like a casket, urn, and flowers. A headstone and burial plot will also be covered.
It can help your loved ones avoid taking on high costs or debt when you pass. They can focus on their own grieving process and moving on with their lives.
If you get a health exam and are proven to be in good health, you can sometimes get a discounted rate on funeral insurance. A medical exam, however, isn’t required in order to get a policy.
What is a Good Age to Invest?
You may not be thinking about funeral insurance when you’re young and healthy. However, you may qualify for lower premiums. It can also make it easier for your loved ones to pay off your final expenses.
Funeral coverage is usually best suited for folks ages 50-80. However, some plans can be purchased when you’re as young as 30.
The cost of premiums themselves will vary depending upon your age, gender, and coverage type. Generally, you’ll pay more the older you are. And you can save more by getting a clean bill of health from your doctor.
How Do You Choose a Policy?
Before choosing a health insurance policy, you’ll want to make sure you know what your wishes are. For example, you’ll want to estimate your final expenses and determine if you will leave enough money behind to cover them.
Next, you’ll want to figure out which policy would be optimal for the type of arrangements you’re planning on. You’ll then need to figure out if you can afford the premiums.
You can ask others for recommendations on insurance companies, and look up reviews online. Once you’re confident you’re making a good decision, it’s time to go ahead and purchase a policy.
Talking about funeral insurance can seem morbid, but it’s critical to making sure your loved ones aren’t burdened by unnecessary expenses. Taking the time to find a policy now will save them much unnecessary agony in the future.
Don’t stop getting smart about funeral insurance now. For more information on quality policies, contact us today.