life insurance ,help pay funeral?

Question

I have Life insurance for my Dad for 10,000He is very sick and may die any time now.Some people told me the funeral will ask to pay infront full amount for service and it is asleast 5000 or more.If I give them the Insurance policy,can they collect money form them?Any of you go through this hard time and know the aswer,pease help.I am very sad now and I really dont want to call the funeral and deal wtih them.I have only about less then 2000 in my saving acount,I want to use his 10000 to make him a nice funeral,he deserve it.If your parents still alive,please treat them good,life is short.

Answer 1

There are a number of answers to this question. Life Insurance is designed exactly for this purpose and you can assign the proceeds to anyone including the funeral home. You can also transfer ownership to the funeral home.

In many states life insurance companies offer accelerated benefits for insureds with a life expectancy of less than 12 months. You should get in touch with the home office of your company and tell them about your fathers condition and that you might have a death claim soon. An accelerated death benefit has been determined to be an advanced partial payment of the death benefit and as such is not subject to income tax.

You'll need to give the company the doctor's/hospital's information so that they can get the diagnosis and prognosis from the attending physician. If the physician confirms that your father has less that the required time to live, you'll get the accelerated benefit.

Accelerated death benefits are usually 50% of the total. So, in your case, that would amount to $5,000 if your father is terminally ill and is not expected to live more than a year (Maybe 6 months in some states.)

Grampy

Answer 2

When your dad dies, you will have to deal with the funeral home. You can have a nice funeral for less than $10,000. Don't just give the funeral home the whole amount. They'll use your sadness and emotional time to tell you he's worth spending all the money or more. When my dad died last year, he let us know he didn't want us spending a lot on a casket. It would be put in the ground and no one would see it again. He'd rather we had the money to spend on other things. It's a tough time. I feel for you.

Answer 3

Generally, they don't make you pay up front but you've got to show that you are good for it. If you show them the insurance policy they probably will take that as proof of your ability to pay. I would highly recommend asking your Dad what he wants for his funeral. It's painful I know (my Dad died just 5 yrs ago) but they will really rocket up the prices for things built up on your want to "give him something nice". It's just ridiculous. I am sure your Dad would want you to have the lions share of that money for yourself unless it was designed for that in particular. Many funeral homes have brochures that they can send him with prices etc. and he can just pick what he likes. He can even pay for it ahead of time if he has the funds. I am sorry for your upcoming loss. Try to enjoy the time you two have left. It is difficult though when they're in pain.

If this is really uncomfortable for you ask your or his pastor to discuss it with him. They are familiar with these things and can counsel you both about what is appropriate.

Answer 4

ok, attempt this back. also, earlier my mom became ill, I had talked in my opinion with a funeral abode director and they'd a fee plan. i'd have made $one hundred a month funds till the funeral became paid off and at a particular element alongside the way, had she died, they could have considered it paid in complete, inspite of the actual shown actuality that it does not were. it surely relies upon on the position you stay and the funeral abode. i'd keep round. regrettably i became clinically determined with maximum cancers this previous June and that i have no existence coverage. I had in basic terms began a clean pastime and that became going to be one among my first purchases became existence coverage. i'm paying a extreme month-to-month value to have a variety of coverage that would not kick in totally till I attain both three hundred and sixty 5 days survivor mark, which i wish I do. we prefer to not wait to purchase existence coverage, if not for the reason to make it a lot less annoying for our kinfolk once we flow. they could have sufficient hurting them.

Answer 5

Thank you for the words of wisdom. I am soory to hear the bad news about your father. Unfortunately funeral cost must be paid up front. If you don't already have cemetery property, you will have to buy that also. A coping is the cheapest, and a tall tomb is the costliest. They run from about $3,500 to $20,000 plus, depending on what you choose. A funeral these days cost a minimum of about $7,000.

Answer 6

Yep..