Alternatives to Funeral Insurance
First off, traditional life assurance policy is a term insurance policy that isn’t significantly closer than a burial contract, but it provides a far greater payout. Most traditional insurance policies can compete with burial insurance this way.
Another one is the pre-need funeral trust, and in essence, this is often paying for your funeral prior to time. If you put money within a trust specified for your funeral expenses, then that money accrues interest over time until it’s used for your funeral.
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