Sentences with phrase «prepaid funeral plans»

Some people go the route of prepaid funeral plans vs life insurance.

However, there are drawbacks to prepaid funeral plans, such as the lack of flexibility or the funeral parlor going out of business.

Do you want life insurance or do you want prepaid funeral plans?

Today, we are going to list the reasons why you should avoid prepaid funeral plans altogether.

Funeral homes sell prepaid funeral plans.

Another con of prepaid funeral plans is the lack of regulation of pre-need funeral plan contracts.

Deciding whether to purchase a prepaid funeral plan, or a traditional life insurance policy like senior burial insurance can be confusing.

Alternatively, a prepaid funeral plan is a contract between the funeral parlor and the individual.

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

Not exact matches

For example: If you have a burial that is going to cost $ 8,000 and you are on a prepaid funeral payment plan of $ 1,000 a year it will take eight years to pay for the funeral.

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.

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.

Burial insurance is often confused with a prepaid funeral, but there are a few key differences between the two plans.

However if a funeral home tries to sell you a policy, it will most likely not be a life policy, but a prepaid plan, one you own and control the other the funeral home owns and controls.