Will Life Insurance Pay for a Funeral?
All of us want to reach the end of our lives knowing that our loved ones will be taken care of after we’re gone. It’s why we spend so much time passing along our stories and values to the next generation, and why we work hard to make life better for our children and grandchildren. And though it may feel uncomfortable to consider, arranging payment in advance for your final expenses is another way to care for your loved ones.
You may have already considered the cost of your funeral and how those bills will be paid. Perhaps you’ve even purchased life insurance with those costs in mind. However, burial insurance isn’t always the best way to cover the cost of a funeral.
Delays outside your loved ones’ control can force them to pay for expenses out of pocket or on credit in hopes of reimbursement. This can create unnecessary added stress and hassles during a time when they’ll already be facing the difficulties of grief and the many tasks of settling an estate.
By making
prearrangements with a funeral home, you can avoid these hassles for your family members. In the long term, you may also save money and free up your life insurance to cover other bills, giving your loved ones some relief when they may need it most.
Burial Policies Aren't Always Ready in Time
On average, a life insurance claim can take between 10 and 30 days to pay out after filing. If there are any extenuating circumstances, like a legal investigation or a recent policy change, that timeline could be even longer. The claim also cannot be filed without a copy of the death certificate and, often, an obituary. This means your beneficiary is very unlikely to receive a payout before your burial or cremation.
Can your family members afford to pay for your funeral expenses out of pocket, or would they incur debt to cover the costs? Would they need to compare prices and pool their resources? Would they need help from the church community to cover those bills? Would they feel stressed deciding between a frugal ceremony and the stylish send-off they feel you deserve?
Those are stressful questions to think about, and you can eliminate all of that uncertainty by making arrangements directly with the funeral home rather than relying on an insurance company to cover your final expenses.
Preplan for Peace of Mind
When you make preplanning arrangements with Pipkin Braswell, you can decide in advance about the type of funeral service you want and what features are important to include. You can then pay up-front or arrange for a payment plan to cover those costs. The prices are locked in, so your loved ones in the future will be protected against inflation and price increases.
When the time comes, there’s no claims process to follow or any extra steps. Your family member would simply need to call us, and we’ll have all of your information on file so we can begin taking care of you immediately. It’s one less burden on your loved ones, and we are honored to help serve you in this way.
You can begin planning online, or reach out by phone to speak with one of our preplanning experts at
303-996-0969.
