Most of us are familiar with the idea of an out and out pre-paid funeral plan. And some of us are also familiar with the horror stories of families who’ve dealt with them. The problem with these plans is that policies are brokered directly through a funeral services director and, unfortunately, not all funeral service providers are created equally. The web is full of testimonies of paid-in-full-policies that were misrepresented or changed after the contract’s signor had passed.
Families can be charged thousands more than anticipated, leaving them with the additional headache of taking legal action against a policy they didn’t even negotiate.This is of course, not always the case. Remember that it is your responsibility to educate yourself about the options available to you.
not all funeral service providers are created equally
Burial Insurance is different than pre-paid funeral policies in that it’s a form of Whole Life Insurance offered by insurance companies independently of mortuary and funeral related merchandise and services. Burial insurance is sometimes marketed under different names, like Memorial Insurance, but unlike traditional life insurance, it is usually offered with a very streamlined underwriting process which requires you to swear that you are neither ill nor in a nursing facility.