How to Shop for Funeral Insurance

So you’re shopping for funeral insurance…

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CONGRATULATIONS!

You’re ahead of the game!

Many of us forget to think about how our loved ones will pay for our funeral expenses.

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But now that you’re getting started you find that it’s not quite as simple as you thought it would be.

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Before we start,let’s make sure we know what we’re talking about.

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All the terms and decisions can be overwhelming.

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• Funeral Insurance?

Is it…

• Final Expense Insurance?• Burial Insurance?

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Is it…

It’s all those things.

• Funeral Insurance?

• Final Expense Insurance?• Burial Insurance?YES!

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For now,

Let’s just call it…

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Funeral Insurance (or Burial Insurance or Final Expense Insurance) is…

A small life insurance policy ($10,000-$40,000) designed to cover your funeral and/or burial expenses.

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So now we know what it is.

What’s the best way to shop for it?

The question is…

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We shop the WISE way.

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>> Estimate your funeral costs.

>> Evaluate how much you’ll leave behind.1

THE WISE WAY TO SHOP: STEP-BY-STEP.

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>> Evaluate the $ you’ll leave behind.1

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>> Evaluate the $ you’ll leave behind.

>> Make sure you really need insurance.

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>> Choose a type of insurance.

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>> Decide if you can afford the premium.

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>> Select an insurance provider.

>> Get a quote.

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>> Get insurance quotes.

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Let’s take a closer look at those steps.

>> Get insurance quotes.

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STEP 1: Estimate your funeral costs.

But there may also be:

• Medical Bills.

Consider all these costs when deciding how much insurance you need.

The most significant cost will be the funeral.

• Credit Card Bills.• Living Expenses.• Legal Fees.

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STEP 2: Evaluate the $ you’ll leave behind.

• How much will your estate be worth?

• Can your heirs get it quickly?

• Will it be enough?• Will there be cash?

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STEP 3: Decide if you really need insurance.

• If you will have available funds at end-of-life you may not need funeral insurance.

Wise Tip: Be sure to check with your financial advisor if you are unsure.

• Remember to consider the impact on your overall estate.

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STEP 4: Choose the type of insurance and limits.

• Guaranteed issue versus medically underwritten.

Need more info on your choices? Visit the insurance page of Funeralwise.com (https://www.funeralwise.com/plan/costs/funeral-insurance/)

• Select your insurance policy limits.

• Whole life versus term life.

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STEP 5: Evaluate if you can afford the coverage.

• If the premium will be more than you planned to spend you can:

The information on Funeralwise.com can help you develop a strategy for lowering your premium costs (https://www.funeralwise.com/plan/costs/).

• Change the type of policy• Rework your funeral plan

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STEP 6: Choose an insurance provider.

• Do your homework.

• Consider only top rated companies.

DON’T SKIP THIS STEP!Choose a company that will be there when you need it.

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STEP 7: Get insurance quotes.

• Look online.

Wise Tip: A simple web search will yield many results. Remember to do your homework on the providers.

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STEP 7: Get a quote.

• Look online.

• Contact an agent.• Try our QUOTE WIZARD.

The Funeralwise.com quote wizard gives you quotes from top companies with absolutely no obligation.

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YOU MADE IT!

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• Still want to know more? Visit Funeralwise.com. We can help you make the right choice when it comes to funeral insurance.

Now you know the WISE Way to shop for funeral insurance.

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Funeralwise.com is your source for "Everything You Need to Know About Funerals." We feature extensive information on funeral-related subjects including funeral planning, funeral customs, funeral etiquette, and grief support.

https://www.funeralwise.com/

How to Shop for Funeral Insurance

Economy & Finance

Transcript of How to Shop for Funeral Insurance

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