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How do I fund my pre-paid funeral arrangement?

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Posted: Mon Feb 01, 2010 12:35 pm   Post subject: How do I fund my pre-paid funeral arrangement?   I just wanted to pay for my own funeral arrangements in order to lessen the burden off my family members. Can I pay a portion of the bill before I die? Is it mandatory that I've to pay for such arrangements in full? How do I fund such a pre-paid arrangement? _________________ Register Now to have your Insurance queries solved.	Lookinforcover Guest
Posted: Mon Feb 01, 2010 9:43 pm   Post subject:    You could buy a life insurance policy to fund the arrangement. Unless you are not healthy enough to qualify, it would likely be less expensive than paying for it out of pocket. _________________ High Risk Life Insurance Quotes	dgoldenz Senior member Joined: 10 Jan 2009 Posts: 392 Location: Virginia 5.24 Dollars($)
Posted: Mon Feb 01, 2010 10:13 pm   Post subject:    Is it a prepaid arrangement or is it burial insurance? Funeral directors can sell a very specialized form of inurance without a license. Essentially what they are doing is collecting a stream of payments from you for funeral costs and if you die while making payments they'll forget the rest of them. As dgoldenz has pointed out, you'll get much more out of your dollars with life insurnace, unless this isn't an option due to poor health.	BNTRS Senior member Joined: 05 Nov 2009 Posts: 828 13.02 Dollars($)
Posted: Tue Feb 02, 2010 7:29 am   Post subject:    It's a prepaid arrangement. But wouldn't it be illegal if the funeral directors sell things without a proper license? _________________ Register Now to have your Insurance queries solved.	Lookinforcover Guest
Posted: Tue Feb 02, 2010 2:33 pm   Post subject:    Not burial insurance, there's no insurance license for it.	BNTRS Senior member Joined: 05 Nov 2009 Posts: 828 13.02 Dollars($)
Posted: Wed Feb 03, 2010 7:53 am   Post subject:    You could go for a certain type of life insurance policy known as the pre-need insurance if you'd choose certain arrangements. This is not like a final expense policy which you'd buy from an insurance co. You could buy this one from the funeral home directors. These directors are licensed agents.	roddick Senior member Joined: 05 Oct 2005 Posts: 962 143.16 Dollars($)
Posted: Thu Feb 04, 2010 9:04 am   Post subject:    Quote: These directors are licensed agents. Yes the funeral home becomes the beneficiary here. The funeral director is like any insurance agent. He gets a commission by selling the policy to you. ArindamSenIndies	ArindamSenIndies Senior member Joined: 14 Feb 2007 Posts: 364 68.90 Dollars($)
Posted: Thu Feb 04, 2010 4:12 pm   Post subject:    There is a license in most states for Pre-Need arrangements. I hold one, as well as, insurance licenses. You could purchase a life policy in the amount of the arrangements and assign it to the funeral home, if you'd like. _________________ Lead source for agents http://www.insuranceleads.com/?s=agtref&k=227879 http://www.65healthinsurance.com./	Pirate91 Member Joined: 17 Jul 2008 Posts: 72 15.21 Dollars($)
Posted: Fri Feb 05, 2010 6:08 am   Post subject:    How do I go for such an assignment? Do I simply explain my wish to the insurer? _________________ Register Now to have your Insurance queries solved.	Lookinforcover Guest
Posted: Fri Feb 05, 2010 4:27 pm   Post subject:    If you currently have a policy or are in the process of getting one, you can just list the beneficiary as the funeral home. What state are you located in? _________________ Lead source for agents http://www.insuranceleads.com/?s=agtref&k=227879 http://www.65healthinsurance.com./	Pirate91 Member Joined: 17 Jul 2008 Posts: 72 15.21 Dollars($)
Posted: Wed Feb 10, 2010 7:23 am   Post subject:    Please check if your funeral policy comprehends your estate plan. Also check if it's in accordance with the will that you've prepared. Consult with your lawyer in this regard.	steven Senior member Joined: 02 Feb 2006 Posts: 1553 215.66 Dollars($)
Posted: Fri Feb 12, 2010 7:48 pm   Post subject:    You might consider an irrevocable funeral trust funded entirely by a lump sum deposit. These policies have the advantage of being portable and are not subject to Medicaid recapture. _________________ JT http://www.ohioinsureplan.com/ http://www.ohioinsureplan.com/index.php/annuities/annuity-quotes/ Health insurance quotes, Medicare supplements, annuity quotes, and life insurance coverage.	JTInsure Member Joined: 30 Apr 2009 Posts: 76 Location: Ohio 18.40 Dollars($)
Posted: Wed Sep 29, 2010 10:05 am   Post subject:    pre-need vs whole life _________________ Register Now to have your Insurance queries solved.	anonymous 101 Guest

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