Low cost Burial Insurance, sometimes known as Final Expense insurance, is a policy that allows you to take care of the financial costs upon your death.
In the same vein as prepaid funeral plans, burial insurance is additional coverage that allows you peace of mind knowing that your family will not have financial hardship to pay your final burial costs when you die.
Not only are your burial costs included but a low cost burial insurance policy covers a myriad of other financial contingencies that many of us - unfortunately- fail to plan for.
A burial insurance policy is a very flexible one and is able to be modified and tailored to meet your personal needs.
We all know that the emotion and grief that accompanies the passing of a loved one precludes most rational thought. It makes it difficult for a family to take care of day-to-day issues in the days and weeks following the death of someone close.
During this time life still goes on and bills accumulate no matter what circumstances. Unless positive steps are taken at this early stage, many families find themselves getting into extreme difficulty on the financial front as their grief prevents them from taking proper control.
In the first weeks following the death there are the immediate plans to be made from the funeral. Not only do you have to choose caskets and funeral directors but you also have to plan for the ceremony itself which involves the emotional recall of events during a loved one's life that can be recited in the eulogy presented at the funeral.
Then there is the choice of service and the theme which you want to follow in an effort to give lasting respect and dignity to the life of someone who has left you.
There are many other pressing financial needs which have to be considered during this time as well. Things like the payment of outstanding debts or the servicing of loans which continue even though death has obviated the need.
Although finance companies are able to display some sense of compassion, the bottom line is that they will still want to be paid and any arrears that accrue during the early stages of grief will still have to be paid.
A low cost burial insurance package can be tailored to meet all these needs in one fell swoop. When properly reviewed every year the plan can be updated to take care of new commitments which have been undertaken, thus ensuring that your family will have no financial concerns when you die. The plans are easy to implement and generally require no medical examination, so there really is no excuse.
Just imagine, your family will be able to choose your cemetery plot, pay for your casket and headstone, the funeral service, the Minister or priest, arrangements for visitations and the hire of the hearse.
In addition, all legal fees are covered, outstanding debts are paid, doctors and other medical costs are paid for plus any probate or taxes can also be included in the plan.