Your Guide to Funeral Planning | 05.23.2023

Funeral Insurance Explained: How It Works

Funeral Insurance Explained: How It Works

Reviewed By: Elizabeth Siegel

Cross Checked By: William Prout

An Overview Of Funeral Insurance

Funeral insurance is a type of insurance meant to help people cover the costs of a loved one's funeral. Often, the term "funeral insurance" is used interchangeably with the term "burial insurance," but you should know that funeral insurance can be used in cases of cremation too.

How Funeral Insurance Works

The payout of your funeral insurance policy will depend on which of the many funeral insurance types you select and the kind of funeral cover you are seeking. When the time of need arises, your loved ones will be eligible to receive a lump sum payout in the amount established by your funeral insurance policy.

What Your Funeral Insurance Can Cover

All of the expenses generally related to a funeral can be covered by funeral insurance, including the ceremonial necessities like a burial plot, celebrant, or undertaker service, as well as the supplemental fees like flowers or catering that allow your loved ones to give you a befitting send-off. 

The fact is that even if you think you know precisely the amount you will need for your funeral, there are additional expenses that you might not have considered, such as automobile payments, cremation certificates, or embalming fees. Insurance could assist in covering your family's travel costs if they would need to travel a long distance to the funeral.

Choosing The Right Funeral Insurance Policy For You

Consider some essential factors to pick the right funeral insurance plan for your situation. First, you must ensure that you meet the eligibility criteria for the policy you are considering. Additionally, you also want to look at how much coverage the policy is offering you and how much you will be expected to pay as a monthly premium.

Another vital component to check is the expected waiting period before the payout is fulfilled. Organizing a funeral is a time-sensitive task, and your loved ones should not get stuck in waiting for the funds to fulfill the arrangements. Before finalizing a policy, do your due diligence by looking for reviews about the insurance company from credible sources, and ensure you thoroughly understand the terms and conditions. Following these tips will help you pick the best funeral insurance policy.

The Importance Of Funeral Preplanning

Many people feel anxious when they think about how their loved ones will manage the logistical and financial duties of planning a funeral. We have highlighted above how you can opt for funeral insurance to ensure your loved ones do not have to worry about the financial aspect. However, you can also make logistical arrangements for your funeral in advance by researching and deciding on exactly what kind of funeral service you would like, including the location, aesthetic, and any additional services.

One of the most significant steps to preplan a funeral is preplanning a casket. At Titan Casket, we offer the option to buy your preferred casket at today's price and avail of the actual casket at the time of need. All you need to do is select the preplan option on the product page of the casket that you pick. As soon as the first payment and the checkout process are complete, you will receive your preplan contract, which has no expiry date. Whenever the need arises, your loved ones can call us, and we will arrange for your casket to be shipped the very next day.