what is it ?
2006-12-11 05:35:26 · 4 answers · asked by Anonymous in Business & Finance ➔ Insurance
Right, its based on your needs and wants.
I'm looking for a policy right now, as I read that New York times article about it, and it made a lot more sense to me. Covers all the basic costs of a funeral, instead of putting the burdon on others.
Help?
2006-12-12 04:51:40 · answer #1 · answered by penftw 1 · 0⤊ 0⤋
It is not generally referred to as "burial insurance" but, in fact that is one possible usage of the monies.I believe what you may be asking about are those TV commercials from various life insurers for people between 40 and 75. You make out an application and there are no health questions and the insurance coverage is guaranteed. However, the cost is high for the value you receive but if you die in an accident, your beneficiary could get up to 5 times the original amount. The price stays the same for life.
2006-12-11 05:43:01 · answer #2 · answered by Ted 6 · 0⤊ 1⤋
It's a small life insurance that will cover final expenses - funeral, casket, plot, cremation, whatever you want. You can plan the funeral with a funeral home, then go to an insurance agent to buy a policy for the amount it'll cost plus something for inflation, and name the funeral home the beneficiary. You might be able to buy the policy through the funeral home, but that's probably an expensive way to do it. Or you can get a regular policy, and tell your family or friends who will likely deal with your estate that the policy is for your funeral expenses.
2006-12-11 05:41:59 · answer #3 · answered by Ralfcoder 7 · 1⤊ 0⤋
It's really "prepaid funeral" or a life insurance policy.
You can probably get a life polciy from your car insruance agent, and talk to a funeral director if you want prepaid funeral.
2006-12-11 06:08:36 · answer #4 · answered by Anonymous 7 · 0⤊ 0⤋