Burial funeral insurance for seniors, also called pre-need policies, offer a way for someone to take care of her funeral plans before death. Some policies allow for full planning while others are based on monetary needs only, but in many cases, seniors feel more comfortable knowing they have taken care of this expense before getting gravely ill or dying.
Burial funeral insurance for seniors is a way people can make sure their loved ones are not left with large bills from funeral expenses. Many funeral home directors push the largest, most elaborate funeral, and family members may feel obligated to pay. Choosing to purchase burial insurance with a cash payout gives family members a budget for funeral expenses. Seniors who are concerned about the choices a family will make after their death can also opt for pre-planned burial funeral expenses, which allow the person to choose the desired funeral arrangements before death.
Types of funeral plans for seniors
Burial funeral insurance for seniors comes in three basic types. The first type is a cash pay-out plan. In this scenario, the senior purchases the insurance for a certain dollar amount, and the family members will get this money when the person dies. The second type of burial funeral insurance is a pre-payment plan in which the person purchases the plan and decides what she wants. The plan pays for the items at today’s cost. In essence, the person is purchasing something for use later. In the third plan, the senior pays into an insurance program and then picks what he wants but does not pre-purchase, meaning the family will pay the difference between today’s price and the price at his time of death.
Benefits of funeral plans for seniors
The primary benefit of burial funeral insurance for seniors is that it keeps decisions regarding the funeral out of the hands of family members. The funeral expenses and, with pre-planning policies, the funeral items themselves will not be up for discussion among remaining family members. In some cases, seniors may want this benefit to prevent discord; in other cases, the senior also gets the benefit of not worrying about funeral proceedings in the years before death.
Article source: http://www.funeralplansinfo.com/seniors-funeral-plan.htm