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Nobody wants to talk about his or her own death, but it’s important that you plan for the events that you can’t avoid. Not making those plans can make the situation a lot worse for your family. It won’t be a fun conversation, but there are several different key factors that you should discuss with your loved ones before they need to make those decisions.
In this article, we are going to outline the various topics that you should cover with your family. Having this awkward conversation is going to make your passing much easier on your family. Perhaps you’re older and want to know if you can qualify for a burial policy for seniors; if so, we can help.
Burial vs. Cremation
The first decision that you’ll need to make is which type of funeral do you want. There are two main types of funerals that you can choose from, either a traditional burial or cremation. Talk to your family about which method that you prefer. Making this choice will prevent them from having to decide after you pass away, which could leave them with regrets or guilt that they may have made the wrong decision.
Before you make the important decision, you should consider the cost of each type of funeral. While you may not realize it, burials can be an expensive affair. The average funeral has reached $10,000, but they can easily reach $20,000 depending on your preferences and where you live. Several different key factors go into your funeral expenses.
If you decide that you would like to be buried, you’ll need to talk to your family about caskets, burial plots, funeral services, and all of the other smaller details that will go into your burial. A casket can cost anywhere from $2,000 to $10,000, and if your family is required to make that decision while going through the emotional strain of losing a loved one, they can make a decision that they wouldn’t make otherwise.
You should also talk to your family about where you would like to be buried. If you have a family plot, or you would prefer to be buried next to your loved ones, then you should make those plans.
The other funeral option is to be cremated. Cremation is becoming a more and more popular every year. One reason that more people are choosing cremation is that it’s a more affordable option. The average cost of a cremation is around $2,000, which is significantly cheaper than a burial. Aside from the cremation services, you’ll only have to pay for the small purchase of an urn, which will be around $100.
The other key conversation that you should have is regarding inheritance. Some families have torn apart after someone passes away because of disputes over inheritance. Having this discussion, and writing out a will is a good way of ensure that this won’t happen to your family if something tragic were to happen to you.
Having a will created by a lawyer and discussing the details with your family will help make the process smoother and ensure that your family isn’t left with arguments about their inheritance. While you may assume it will never happen to your family, it’s important that you don’t leave any room for dispute.
Burial Insurance Policy
Another discussion that you should have with your loved ones is any debts and unpaid expenses that they will be responsible for if something tragic were to happen to you. When you pass away, all of your debts are going to be passed on to your family, which means they could find themselves left with thousands of dollars of debt, which is going to make the situation a lot worse. The best way to ensure that your family has the money that they need to fulfill your final wishes is to purchase a life insurance plan, but what if you don’t want to pay the expensive premiums of a large life insurance policy.
One alternative to a traditional life insurance plan is to buy a burial insurance policy. How does a burial insurance policy work? Well, these plans are a much smaller form of insurance coverage, and they can be an excellent option for your family. There are several advantages to these that you should take note of when you’re planning your passing.
The biggest advantage to burial plans is that anyone can buy them, regardless of your health or any pre-existing conditions that you have. With a traditional policy, you’ll be required to take a medical exam, which means that you could be declined for coverage, but with a burial plan, you won’t have to worry about that. Because these policies are much smaller, they insurance company is going to account for your health when you apply.
Another key advantage to these policies is that you can be approved for insurance protection much fast than you can with a traditional life insurance policy. With a normal plan, you could wait several weeks to be approved, but with a burial insurance policy, If you want to get insurance coverage for your family as quickly as possible, a burial insurance plan is going to be the best option.
Is A Burial Insurance Plan Right For You?
Burial insurance plans are a great option to ensure that your family is responsible for paying for all of your final debts and burial costs. These plans provide a unique type of coverage, but that aren’t perfect for every applicant. There are several key factors that you should consider when you’re looking to get insurance coverage for your loved ones.
The first thing that you should consider is your debts and other unpaid expenses that your family would be responsible for if something tragic were to happen to you. The primary goal of your plan is to give your family the resources that they need to pay off those expenses without draining their bank account. If you still have a large amount of debt, then you’ll need to apply for a traditional life insurance policy with a higher payout. On the other hand, if you don’t have any major debts, you can save money by purchasing a burial insurance plan instead of a traditional life insurance policy.
The next factor that you should look at is your paycheck and how many people rely on your income every month. If you’re at a stage in your life where you have a spouse and children that need your stream of income every month, they will struggle financially if something were to happen to you. Your life insurance policy will provide the money that they need to replace your paycheck without sacrificing their standard of living. If you no longer have any dependent, then a burial insurance plan could be the best option for you.
Preparing For The Worst
We know that talking about your death with your family isn’t a fun dinner conversation, but every year there are thousands and thousands of people that pass away without any plan or insurance protection. Their loved ones are left with significant debts and forced to make difficult decisions. Losing a loved one is never easy, but not having proper plans in place is going to make the situation a thousand times worse.
Because you can’t predict the future, you shouldn’t wait any longer to get the insurance protection that your family deserves. If you have any questions about burial insurance or the different options for life insurance, please contact one of our agents today. We are independent insurance agents, which means that we can bring all of the best rates directly to you. It’s our mission to ensure that you’re getting a quality insurance policy at an affordable rate.