Life Insurance and Final Expenses

Life Insurance and Final Expenses

You just never know when thoughts of life insurance will pop into your head. My husband and I were visiting the cemetery over Memorial Day weekend and got a bit lost trying to find a family member’s grave. A gentleman from the cemetery came over to help us locate the plot. While talking with him he asked if we had our own burial plots. Our answer was “not yet”. We aren’t old enough to think about that kind of thing, right? Not so fast! We never know when our last day will arrive so it’s good to be prepared and help take some of the burden from your loved ones’ shoulders. You can make your wishes known verbally or put them in writing – this way there are no questions about what you want and no fighting amongst your family members.

There are many costs associated with meeting loved ones’ final wishes. And now may be a good time to do a review of your life insurance policy coverage to make certain that the amount of coverage you currently have will be enough to meet all of the needs you intend it to meet, such as mortgage, college, burial, etc.

Here are some things to think about:

  • Burial or cremation?
  • Calling hours and church funeral or a memorial service at the funeral home that includes calling hours?
  • Is there a favorite outfit or piece of jewelry you want to wear for the calling hours?
  • Open or closed casket?
  • A special urn?
  • Is your burial site picked out and paid for? How about the casket?
  • Favorite song or flower?

Your funeral or memorial service is a very personal matter and the costs will quickly add up. Pre-planning will help with the details and the determining the right amount of life insurance needed to cover the costs associated. Your loved ones will already be mourning your loss, this will help ease their stress level and they’ll know that they are sending you off in the manner that is most fitting.

About the author: Lauri Pella has been in the life insurance business for over 29 years. She is a fitness enthusiast who actively supports foundations like the American Cancer Society, and the March of Dimes. Lauri would love the opportunity to help your family have a peace of mind, knowing they have the right life insurance coverage. You can contact Lauri at 1-800-651-1953 or LPella@Pivot.com.