Sentences with phrase «proceeds of the burial insurance policy»

This person (or persons) will be able to receive the proceeds of the burial insurance policy and take on the duties of the initial beneficiary.

Not exact matches

Good candidates for burial, or final expense, insurance can include those who may want to pay off more than just their funeral costs with the proceeds of the policy.

All of the proceeds from a burial insurance policy can be used by the beneficiary, too, because life insurance proceeds are free of income taxation to the recipient.

Burial insurance is a very specific kind of whole life insurance policy where the proceeds of the policy are meant to pay for end of life expenses.

Final expense life insurance is a life insurance policy whereby the proceeds are meant to pay for end of life costs such as funeral and other burial expenses.

These types of life insurance policies, which are also often referred to as funeral or burial insurance, will typically provide between $ 5,000 and $ 25,000 in proceeds so that the insured's funeral and other final expenses can be paid.

For example, they may use the proceeds of a Guaranteed Acceptance Life Insurance policy to pay for expenses such as funeral and burial costs, medical bills, or other consumer debts.

In addition, a person may also have other associated expenses, too, such as uninsured final medical and / or hospice costs — of which the burial insurance policy proceeds could also help to pay off.