Funeral Insurance: why you should get one in your lifetime
Let’s be realistic—the event of your death is a done deal. As hard as it is to talk about it, you cannot go on living your life as if it would have no end. Have you ever thought about what would happen if you were to die tomorrow? Who is going to take care of unresolved matters? Who will pay back your debts? Who is going to inherit your property, get your possessions? Who will continue running your business? And how about where would you be buried and what would your funeral be like? Unless you belong to a system or a faith that resolves these matters for you, the pre-planners would usually seek life insurance and a burial insurance for seniors.
It is true, insurance companies have been heavily criticized for capitalizing on people even when they are dead, but really, what they are essentially doing is making life easier for the people you would leave behind—in financial terms at least. Most people would shy away from planning their own funeral. It does sound like a very morbid thing to do in your free time. But once you are old and grey and in some ways dependant on your children or caretakers, investing in a burial insurance for seniors would be a wise decision, especially in this economy where the state is incapable of paying for anything.
Firstly, with a burial insurance, you can—in your life—make funeral arrangements according to your likes and dislikes. You can decide what the procession will be like instead of letting your friends and family choose something against your unvoiced wishes. Perhaps you would want a certain kind of flower arrangement that your loved ones aren’t aware of. What if your family is not familiar with all your friends? How would they know who to invite? Secondly, you yourself can choose your casket, or an urn, or a shroud (depending on your choice, faith, religion etc). Eventually, you will also want to decide where you want to be buried. That is after all a matter that is important to many; maybe they want to be buried next to a loved one or in their birthplace or in their family cemetery. Better decide now than leave it to be decided by others. Once the burial vault is selected, you can decide if you want a tombstone with an appropriate epitaph that you would possibly want to compose yourself. Finally, you can write a will to certify all these wishes on paper. A burial insurance for seniors will help you in putting all these things in order.
Typically, a funeral that involves all the above mentioned components costs an estimated $10,000, even if you have life insurance. If you are to buy a burial insurance now, that is, in your lifetime, then you can discuss all these costs with your company representative. They will probably list it down for you to make calculations easier. Of course no price is set in stone; prices of vaults, caskets and the like are likely to change with economic conditions. This will nevertheless still relieve your loved ones of all the extra expenses you would leave behind when you die.
Death is inevitable, so take some time out of life and plan the expected. Become the boss of your own funeral.
