About Burial Funeral Insurance for Seniors

by Brandi Brown

Burial funeral insurance for seniors, also called pre-need policies, offer a way for someone to take care of her funeral plans before death. Some policies allow for full planning while others are based on monetary needs only, but in many cases, seniors feel more comfortable knowing they have taken care of this expense before getting gravely ill or dying.

Significance

Burial funeral insurance for seniors is a way people can make sure their loved ones are not left with large bills from funeral expenses. Many funeral home directors push the largest, most elaborate funeral, and family members may feel obligated to pay. Choosing to purchase burial insurance with a cash payout gives family members a budget for funeral expenses. Seniors who are concerned about the choices a family will make after their death can also opt for pre-planned burial funeral expenses, which allow the person to choose the desired funeral arrangements before death.

Types

Burial funeral insurance for seniors comes in three basic types. The first type is a cash pay-out plan. In this scenario, the senior purchases the insurance for a certain dollar amount, and the family members will get this money when the person dies. The second type of burial funeral insurance is a pre-payment plan in which the person purchases the plan and decides what she wants. The plan pays for the items at today's cost. In essence, the person is purchasing something for use later. In the third plan, the senior pays into an insurance program and then picks what he wants but does not pre-purchase, meaning the family will pay the difference between today's price and the price at his time of death.

Considerations

When choosing burial funeral insurance the largest consideration is how much someone wants to pay for a funeral. In some cultures, families pay as much as possible. Other people may want a less opulent funeral with a smaller price tag. Choosing to purchase insurance for the funeral expenses is one way that seniors can make sure they are getting what they want for their funerals instead of leaving it up to family members to decide.

Misconceptions

Burial insurance does not always cover the cost of all funeral expenses. Some policies allow for the purchaser to indicate the casket she wants, but they do not make the purchase immediately, meaning the price point is likely to go up before death and the policy may not cover the entire cost. Burial funeral insurance for seniors typically does not cover the cost of ministers and other people involved in the ceremony either, so that is something the family will need to consider separately.

Benefits

The primary benefit of burial funeral insurance for seniors is that it keeps decisions regarding the funeral out of the hands of family members. The funeral expenses and, with pre-planning policies, the funeral items themselves will not be up for discussion among remaining family members. In some cases, seniors may want this benefit to prevent discord; in other cases, the senior also gets the benefit of not worrying about funeral proceedings in the years before death.

About the Author

Brandi Brown is a freelance writer with over five years of Web-based experience. She has a bachelor's degree in history from Mercer University and is a graduate student in women's and gender studies at the University of Louisville. Her works appears in various online journals and offline newspapers.

Photo Credits

  • from Morguefile.com