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Life Insurance Beats Funeral Insurance

fi-2Few people really even want to talk about funeral insurance, but having arrangements figured out for a funeral in advance makes it easier for the survivors to deal with at the time of a death.  Most experts say life insurance beats funeral insurance, but it depends on the parties involved.

The big objection against funeral insurance is that most people already have enough life insurance to cover their funeral and burial expenses. Determining how much is needed is an important step in the life insurance buying process.

Opponents of funeral insurance say buying extra insurance is redundant and a waste of money. The other objection is that funeral and burial insurance money can only be spent on the funeral and the burial. It cannot be used for other purposes such as paying estate taxes, paying off debts and covering the cost of real estate or other personal property.

Life insurance money can be used for whatever purposes heirs of the decedent want or need. It can also be used to cover unforeseen death related expenses such as additional taxes or unpaid debts that might be left behind. Find the Right Life Insurance for the Right Price. Get a Rate Quote Now.

Another advantage is that life insurance money can be spent on the living. It can be used to send your grandchildren to college or help your kids pay off their mortgage. Funeral insurance cannot be used for those purposes.

The final objection to funeral insurance is that you simply get a lot more “bang for your buck” with life insurance. Not only can your heirs get money,  your survivors can receive tax advantages because money spent on some types of life insurance is tax deferred. That means there are some serious advantages to life insurance.

For the consumer in today’s world most insurance experts say life insurance is still a far better deal than funeral insurance. It’s more versatile and provides more benefits to your loved ones.