How Does Funeral Insurance Work?
Funeral insurance covers the price of your funeral or cremation expenses after you expire. It also can be used at the beneficiary’s discretion to pay off debts, such as any medical bills, mortgage debts, or bills. Almost like burial insurance, preneed funeral insurance covers any funeral expenses, but is sometimes paid on to a funeral parlor instead of any members of the family.
If the price of premiums may be a concern, you’ll want to see coverage that’s designed for low cost, while still providing a benefit that will be sufficient to pay off the expenses your family will face after you’re gone. A benefit may buy other stressful debts like hospital and medical bills, as well as estate settlement costs.
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