How to Pay for a Funeral

It can be dificult to cope with paying for a loved one's funeral, burial, and outstanding debts while in grief. But no one has to be left in that predicament. There are life insurance policies that fund final expenses before the event occurs.

Why is this a good optIon?

1) The policy can be paid monthly, quarterly, semi-annually or annually. No one has to come up with the entire amount all at once.
2) The policy can be purchased to pay for one's own funeral OR the funeral of someone else.
3) The death benefit is usually tax free and does not have to go through probate.
4) Whatever is left beyond funeral and burial expenses can cover other expenses.
5) You don't have to visit the funeral home or make funeral plans to purchase a final expense life insurance policy.

Burial policies are unique and must have certain features to meet the needs for which they are intended:

1) They must last until the funeral. Usually, that means they must be permanent. The two main types of permanent life insurance are Whole Life and Universal Life with no-lapse guarantee.
2) They must be available in face amounts under $50,000.
3) They must be available to people of all ages, including those who may have some health problems.
4) They must be with stable companies that have a repuation for quick payment.

To find such a policy, go to a web site that specializes in that type of coverage, such as www.outlooklife.com. Your agent should ask you some health questions, which shows that he/she is trying to find you the lowest priced policy for which you qualify.

Most final expense policies do not require an exam or medical records. Many will ask for a short phone interview.

Look for those that are guaranteed to stay the same price for the rest of your life. If the fine print says they cannot single you out for an increase, that means they CAN raise the price for the entire group. There are enough policies that will guarantee the price for a lifetime that you should not have to settle for a policy that will continually raise the price.

Permanent policies that do not require an exam are available that will pay 100% from day one for death by any reason. With very poor health, the policy may pay a limited death benefit the first 2-4 years.

Since it cannot be spend while one is alive, life insurance is the safest way to be sure the funds will be there when needed. In troubled economic times life insurance has proven to be one of the most dependable financial vehicles. It is also the most personal, as the beneficiary is hand picked by the person obtaining the policy.

Call Outlook Life at 866-866-0242 for a reliable and safe funeral policy quote.