Sentences with phrase «prepaid funeral policies»

Burial policies are not the same thing as prepaid funeral policies, that are a method for paying a funeral director ahead of time for your final arrangements, says Joe Skarda, director of education and training for Sapient Financial Group.

Burial policies are not the same thing as prepaid funeral policies, which are a technique for paying a funeral director ahead of time for your final arrangements.

You will want to compare prepaid funeral policies with other options to see which particular choice is right for you.

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.

Not exact matches

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

You may be allowed a deduction of payments for (i) a prepaid funeral insurance policy that covers you or (ii) medical or dental insurance premiums for any person for whom you may claim a deduction for such premiums under federal income tax laws.

When you name the funeral home as the beneficiary of your policy, the costs are prepaid, leaving family members with little or no responsibility for payments.

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

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

With prepaying for a funeral, you can only use that particular funeral home, with burial policies you can use whichever location works best.

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.

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