Do I Need A Funeral Policy?

It makes good sense to want enough insurance to cover your funeral expenses.Before your purchase a funeral insurance make sure that the policy does not cost more than it will pay out.

The typical “funeral policy” is a whole life policy with a small death benefit for about $5,000.00

There is an alternative to funeral insurance if your concern is paying funeral expenses. The traditional alternative is a pre-need contract with a funeral director. Here is how it usually works:

1. The funeral director contracts to provide a funeral for a specified amount.

2. Your payments go into an escrow fund

3. The money remains yours

4. Unlike life insurance, you can withdraw your money from the pre-need escrow fund.

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