What Is Pre-Burial Insurance?
Pre-burial insurance, often referred to as pre-need or burial insurance, is a type of insurance that allows a person to choose in advance and pay for many of the costs associated with burial and funeral proceedings.
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Purchasing
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Pre-burial insurance can be purchased through a funeral broker who is also a licensed insurance agent.
Benefits
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The most significant benefit of seeking pre-burial benefits is that an individual's loved ones will not be burdened with seeking burial and funeral arrangements in the midst of what will already be a stressful time period in their lives. Pre-burial insurance is unlike other insurance in that it does not involve protection against an assumed risk; the purchase of this product is more akin to paying for a service in advance. An individual purchases this as a means of achieving control over his own funeral proceedings.
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Contacting an Attorney
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Prior to making funeral arrangements, including signing up for pre-burial insurance, individuals are advised to contact their attorney or seek other legal representation to insure that the terms of the pre-burial insurance are not at odds with what has been set forth in the individual's will.
Financial Benefit
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Though most insurance provides some sort of financial benefit to the individual, this is not always the case with pre-burial insurance. Sometimes there is no financial benefit or decreased cost to purchasing this product; the main benefit is that an individual is able to choose the options he prefers for his own burial and funeral. However, some funeral homes will offer a price guarantee, which allows a person to purchase funeral arrangements locked in at current prices. The average price for a funeral in the United States is $6,500.
Services
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Among the services that can be selected for pre-burial insurance are casket or urn, cremation, grave marker and flowers.
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