Death arrangements, if not indicated in a will, normally takes place and is usually decided upon by the next of kin. If no next of kin is identified, the state takes care of these matters. What takes place in planning the interment is who decides what happens and how will this be funded?

In order to avoid negative situations for the next of kin, it is best that the individual indicate in writing who this person will be and how the arrangements should be handled and who will have access to the funds.

Another option is to purchase burial insurance with reasonable funeral insurance rate whereby the individual designates who the executor of the estate will be and what needs to be done when the “time” comes.

My father purchased burial insurance when he was in his forties. He was 65 when he died and it was a relief that my family knew exactly how my father wanted to be buried. The burial insurance paid for all the expenses and handled all issues pertaining to the casket, embalming and the specific type of service which my father had indicated.

I realize that burial insurance is not for everyone. However, it is the most practical thing to do and is, I believe, necessary. Money always is an issue and if an individual can afford it, purchasing burial insurance is always a good thing. Family members would not have to guess how the interment services would be like since the insured pretty much decided on all the details.

Think about it…

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I believe he may have also had a small policy for around $1500 that had been provided by his parents. But what is funeral insurance rate of $1500 when a typical funeral costs between six and seven thousand dollars?

Thankfully, my mother-n-law, for herself, has realized she could minimize the kind of strain he unintentionally put on his family by purchasing a burial insurance policy. The policy is not a large amount meant to leave lots of money to her family buy it is enough to cover all the typical expenses associated with a funeral and the burial process.

The policy my mother-n-law took allowed her to name a beneficiary to the policy. Having a beneficiary named on a policy is every bit as important as who you name. You want to name someone who you trust to comply with your final requests of either traditional burial or cremation. They need to know if you have a preference of one funeral home over another and where you want to be buried. If you don’t name a beneficiary or put your wishes into your will you could be leaving the planning to your local county or city officials to decide, and that is a pretty scary thought.

Is a burial policy right for everyone? Not necessarily. If you are disciplined you could have the funds set aside in a savings account. Be sure you are keeping up with the rising costs of burial expenses. If the funds you have saved could be needed to pay off other debts you might want to consider a burial policy with right funeral insurance rate to supplement your funding.

When a loved one dies there is more than enough stress and grieving for the family to deal with without added financial stress. I like to think of a burial policy as the ultimate “peace of mind” insurance policy.

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Burial insurance policies are one way of taking care of your funeral expenses so that your family doesn’t have to worry about that. You can make monthly payments on your funeral that may cost around $8000.00. This way your loved ones will have one less thing to deal with. They will already be stressed if they have to pay to travel, take time off work and handle the legal paperwork when you pass on. Losing a loved one is hard enough. You will take some of that strain away, by getting your funeral paid ahead of time.

This kind of insurance is sold by whole life insurance companies. Its easy to apply. These policies are usually made for older people between 50 & 80 years old. Some simple policies will ask you a few questions. Most people will be approved. If the type of policy is a “Guaranteed Issue” policy then that means that they won’t ask you any questions at all, instead they will use a waiting period. The way that works is that you have to live a certain number of years or months before they will pay for your funeral. If you pass way before then the money you paid in will be refunded with interest. That’s one way that they can keep your payments small.

Another type to look for is a “Simplified Issue” policy. Your payments will be cheaper and there’s no waiting period. If you are really sick or in a nursing home, then you will want the guaranteed issue policy. That way if you pass on during the waiting period, your loved ones will get a refund of your payments plus interest.

Insurance policies are not the only way for you to take care of the funeral cost. You could always save the money in a special bank account. If its in a savings account, then it will be earning interest. The problem with that is that it may be hard for some people on fixed income to save money, because they use it when things come up, like car repairs or other emergencies.

You could also take care of your funeral cost right at some funeral homes. They call these plans pre-need or pre-paid burials. This will work fine if you know which funeral home you want to go to. These plans don’t help cover the cost of anything but the funeral and burial. You will need to save money for family members to travel, or cover legal bills in a different place. In some cases, people have to pay interest to the funeral home. This may cost you a lot more than an insurance policy.

There are good things and bad things about each way to pay ahead for your funeral costs. You should meet with a professional who can help you decide what you can afford and what will work best for you and your loved ones.

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Then I must decide who I will elect from my family to be in charge and carry out all my wishes as prearranged prior to my death. Imagine what would happen if the arrangements I made didn’t get paid in full before my death, who will pay for what I wanted. How will this affect my family during this grieving time. I certainly do not want to burden them with financial responsibilities after I am gone.

So that this kind of mishap doesn’t happen or if it does what is the next step? We should get the advice of a licensed funeral director. The advice from someone who deals with issues daily is a relief not only for the person making the arrangements but also for the family after her death.

The advise of the director was harsh to certain extent but it was information we never thought about.

If there are no legal descendants to take care of the arrangements, then the city or the governing body will determine the cremation or burial based on it rules. Try to avoid this at all costs.

The other good advice was do you carry enough insurance to cover, medical bills, estate taxes, funeral insurance rate at today’s prices? The cost of the lot where you will be buried is a separate expense. Insurance policies have limits based on the length of time you pay into it others are cash limits. Each policy can supplement the other to help those who you leave behind to take care of your wishes.

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She never granted anyone power of attorney over her financial and burial arrangements. Therefore, we spent unnecessary time searching through her files for Life Insurance policies. Once we finally found the policy the amount was simply not even enough to cover even half of the funeral expense.

This is why; I cannot say enough times folks, please set aside time with your family to arrange a meeting to discuss one of the possibilities of burial insurance - advice from a licensed funeral director. Then everyone can establish who will be in charge over these affairs, whenever our loved ones pass.

Also verify funeral insurance rate, the amount covered, and other financial resources. If my family had purchased Burial Insurance ahead of time, we would have been happier going through the entire process. Not only does the insurance allow everyone to select a beneficiary.

But the plan administrator assigned to your policy will help you with both the financial and burial expenses. This alone will put your mind to rest, knowing most tasks involved are already completed.

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There are many options out there, you can open a savings account, but you must keep in mind that can disqualify the elderly person from some benefits. There are financial insurances. This is a type of insurance that is simple to apply for and most qualify for usually people age 50 to 80. It is a way of making monthly payments for the funeral. Another option is to pre pay a funeral and the drawback I see to that is you must use this funeral home, and if you move or change your mind you still must use this funeral home. In addition, they only allow for the cost of the funeral itself and if you decide to have an additional service for the deceased person, you will have to pay that out of pocket.

A financial advisor can advise you the best way to handle your situation and help you become aware of all the options available.

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