Sentences with phrase «prepaid funeral expense»

The second common type of burial insurance worthy of some consideration is preened or prepaid funeral expense insurance.

Homes, vehicles used for transportation to work or for medical purposes, personal property, prepaid funeral expenses and certain life insurance policies are exempt.

According to Marshall, Parker, & Weber, LLC, a law firm in Pennsylvania that specializes in elder law and estate planning, the couple is allowed to spend their money «to pay off existing debts» to prepay real estate taxes, insurance, or other large bills; or to prepay funeral expenses» before qualifying for Medicaid.

You can also prepay your funeral expenses by working out an arrangement with your local funeral parlor, or look at final expense insurance.

Proceeds can be used to pay related medical expenses, to prepay funeral expenses or to settle any other outstanding issues before an anticipated death.

Not exact matches

Final expense insurance gives you more flexibility than simply prepaying for your funeral and burial expenses.

When the funeral home is the named beneficiary, a contract of services is typically involved that essentially allows you to prepay for your final expenses, and to make arrangements in advance according to your specific wishes.

Even if you already own a prepaid funeral policy, it wouldn't hurt to get a small final expense or burial policy just as insurance for the prepaid funeral policy.

It's clear that the risks of purchasing a prepaid funeral plan over a traditional life insurance or final expense policy are much higher.

Pre-need insurance, also called funeral insurance, offers a way for consumers to prepay funeral and burial expenses prior to death.

For final expense and prepaid funerals, Security National Life is at the top of their game.

Prepaying these expenses removes the burden of funeral costs from surviving family members.

The beneficiary of the burial insurance plan can use the payout to cover any expenses necessary, but a prepaid funeral can overpay for the cost of the burial and related expenses.

Another option life insurance shoppers have is to combine a quality final expense life insurance policy with a prepaid funeral, burial or cremation service.

With a prepaid funeral, the cost of burial and all related expenses are often overpaid which is why burial insurance is the more popular of the two.