2008-07-28

How to Buy Burial Insurance

Ever thought of buying a burial insurance policy? Well, funeral costs have gradually been increasing and you need to consider this issue seriously. You would not want to leave your relatives and friends with a financial burden at the time of your death. Therefore, it is extremely important to plan for such an eventuality. Buying burial insurance helps cover the funeral costs and ensures that there is no added financial burden on your loved ones.


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Step1
Contact local insurance agents and get information about different funeral expenses policies.


Step2
Make a list of things to do for arranging a funeral, along with the cost of each. This will help you determine the total cost.


Step3
Ask the agents for quotes on different policies that cover funeral expenses. Decide on the premium that is payable to get suitable coverage.


Step4
Submit all the necessary documents immediately for obtaining the policy. Nobody knows when death will knock at their door.


Step5
Keep all the documents where they are easily accessible. Inform your relatives and friends of the documents and their location. Do not hide them.


Step6
Supply updated information to your family and friends. The information should ideally include your attorney's name, the names and contact information of agents and people who have copies of your will and other legal documents. For the funeral insurance, ensure all documents are in place.


Step7
Choose a beneficiary in the event of your demise. Before buying an insurance policy, this decision is critical. Usually your spouse and children are chosen as beneficiaries, although you may pick anyone.


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1 comment:

the_recovering_executive said...

An event in our family taught us all the simple truth: if there isn't a burial policy in place it is unlikely your loved ones will receive proper care.

Final expense insurance is another name for burial insurance. Whatever you choose to call it every senior in the country needs it!

These policies are basically forms of term insurance which are easy to get, and not very costly.

Don't delay.