Funeral homes are compelled (via the FTC’s Funeral Rule) to give you prices over the telephone. Keep your budget a secret— Don’t tell the funeral homes how much money you can spend. If they ask you about your budget, simply say, “I’m not sure, but it won’t be much. What...
Funeral homes are compelled (via the FTC’s Funeral Rule) to give you prices over the telephone. Keep your budget a secret— Don’t tell the funeral homes how much money you can spend. If they ask you about your budget, simply say, “I’m not sure, but it won’t be much. What...
The average funeral has multiple expenses for goods and services. Per the Federal Trade Commission (FTC), there are several fees that contribute to how much a funeral costs: Basic service fee: This is a standard service fee that is associated with a funeral. This covers the cost of planning...
Some credit unions have an enhanced Death Benefit Plus funeral insurance. This is a policy that pays out anything form €3,000 to €15,000 to cover expected funeral costs and reduce any financial burden on family. The premium is based on your age but, critically, it does not rise as you...
If you think about it, planning a funeral is a lot like planning a wedding. You wouldn’t plan a wedding without knowing how much you want to spend! Allocate most of your funeral dollars to the elements that have the most meaning to you. Know What You Want Even if you are making ...
Another consideration is how much freedom you should allow worthy recipients to choose between different good things for themselves. You might be fired up with the mission to lift up the neediest out of poverty. But they may prefer to ...
If you don’t have dependents or they are self-sufficient, you might not need as much coverage, but you may want to pay for funeral expenses or leave a financial gift. Take time to consider what you want your insurance policy to accomplish before you determine the amount of coverage. Exam...
The primary benefit of a million-dollar whole life insurance policy is the death benefit. Your beneficiaries will receive a lump-sum payment of one million dollars upon your death, providing financial security for their immediate and future needs. This benefit can help cover funeral expenses, ...
She chose a policy with a death benefit that would not only cover funeral expenses but also leave a legacy for her nieces and nephews. As Sarah continued to pay her premiums over the years, the cash value of her policy grew, offering her the flexibility to borrow against it if needed. ...
Applying for a policy while you're still young typically yields the lowest rates, as carriers do not anticipate having to pay out a death benefit for a longer period of time. Buy a term policy: Term life insurance is generally much cheaper than permanent policies because it provides coverage...