- Making a Call to Insurer.
- Making your claim for payout.
- Presenting a copy of the expired policyholder’s Death Certificate.
- A picture of his dead body at your home or funeral home.
- Forwarding a Beneficiary signed statement copy.
Which is better, Pre-Need Funeral Life Insurance or Burial Life Insurance?The purpose of both is the same, payout is pretty much the same too. It is not important to compare them, though for people who want to be proactive, and usually take the initiative, it suits their personality to opt for Pre-Need Funeral Insurance. They can decide the minor details of their funeral themselves. Conventional old people who appreciate the burial and funeral procedures of the early 1900s are better suited for Pre-Need Funeral Insurance. As for other people, if they name a responsible beneficiary for receiving the payout and being the middleman between the funeral home and insurer firm, that works too. That is slightly better because it is movable, and flexible, if the payout was $15000, and funeral home costs are $10,000, the remaining $5000 will go to that beneficiary, instead of the funeral home Funeral homes can go bankrupt and in case a policyholder dies away from his state, how would a fixed funeral home account for these drawbacks? Nevertheless, both are advisable.
What are better alternatives than Burial or Funeral Insurance?The best option for any organized person is to keep saving a certain amount in a savings bank account, instead of giving it in the form of premiums. For any type of life or burial insurance, understand that a part of your premium goes to the Cash Value component of the Insurance policy and the remaining part goes to the Death Benefit payout. Instead of giving the monthly premiums, get organized and save that amount yourself in a high-yielding savings bank account. This is the best way to have maximum backup dollars for funerals and all other future financial crises. People who are extravagant and bad at managing money should avoid this, and consult reputed brokers or insurer firms.
Which are the best Burial or Funeral Insurance firms in the US?
- Fidelity: Overall top pick
- Mutual of Omaha: For accelerated death benefits
- State Farm: For customer satisfaction
- New York Life: For permanent life coverage
- Ethos: For no exam coverage
- Lemonade: For the best alternative