What Does Burial Insurance Cover? – Podcast Episode 17

In this podcast, I’m going to be discussing what does burial insurance cover? Point number one today is burial insurance can cover of course, burial and funeral expenses. And that’s exactly what final expense burial insurance is intended to do is pay for all the costs surrounding your funeral, including casket burial plot, Funeral Home Services, all other related expenses, it also works if you want to get cremated, you know, you could, you could set your plans up originally to get buried.

And if you just decide to get cremated at some point in your life, then you know the you can easily change to that and you might go oh, I would never get cremated. But you know, your your family might be forced to do something, maybe you’re traveling out of state or out of country. And it would just be logistically impossible to get your body home, then cremation might be an alternative.

So you just got to think down the road a little bit on and have those conversations with your family. kind of you know, if this then that, just because we just live so uncertain, none of us knows how we’re going to pass away.

Our number two topic on what does burial insurance cover is final medical expenses. So here’s a good example. So you had a $20,000 policy, and you’re going to get buried and you’re only going to need $10,000 of that policy. Well, you’ve got $10,000 left, well, I shouldn’t say you do your beneficiaries will your family members, loved ones or children will have extra money leftover.

And if you have medical bills relating to your your death, the final care, you know, before you passed away, and so many people do, because you know, not not everybody just dies in their sleep, a lot of people have to go into the healthcare and, and medical and emergency system. And there’s just tremendous amount of bills, that insurance won’t cover Medicare, Medicaid, any of that won’t cover.

So what this final expense burial insurance can do is provide extra money. So $10,000 goes towards your burial. And then $10,000 is leftover that could be used for for medical bills or credit card bills or anything like that. Because if you have any type of the state, when you pass away, if there’s any outstanding bills, those will have to be paid. And you know, whoever you owe that debt to, can come after your estate and your assets.

So having that burial insurance in place, that life insurance, that final expense insurance is a great way to make sure that your family doesn’t have to deal with that. And all your assets just transfer over in a nice orderly fashion to them.

Number four for what does burial insurance cover is it covers end of life expenses. And that can be things like hospice care, medical care, anything related to the final days, weeks, or months of our lives. And not everyone is fortunate enough to die in their sleep. And, you know, that may sound morbid, but, you know, I both my parents died of dementia. And it was it was it was it was a slow miserable death and lots of bills racked up during that time for that extended care and housing and care and everything like that. And boy just it’s challenging to see family go through that.

But it’s challenging to have to deal with all the just really exorbitant medical expenses from that. So this insurance can really protect your loved ones and your children from having to pay out of pocket for that. Just anything related to that it can be so challenging, because you know, the people that are left behind, really want to make sure that you’re as comfortable as can be, and that you get the best care possible. But things get so expensive these days, having some extra funds can really be an incredible benefit for those that are left behind.

And then the fifth item for what burial insurance can cover is travel expenses. So let’s say you have a $20,000 policy, and you only need 10,000 for the burial. But you were traveling out of state. Maybe you live in Texas but you are traveling in Florida. And you just you want to make sure that you are actually buried deep in the heart of Texas, right?

So I mean, that’s a lot of money if you don’t want to be cremated, you know, if you get cremated, it’s not that big of a deal, it can just be carried by a family member on an airplane or, or shipped or something like that. But yeah, if you want your body, you’re probably going to have to arrange a private Air flight to get your body back. And that’s just a lot of money.

So if that’s if that’s your your deepest wishes to be buried deep in the heart of Texas, then you can get the insurance to pay for that. So you would have to have more insurance, of course, then what’s necessary. So if the burial is going to cost 10,000, you would need 10,000 you might need 5000 to transport port the body. And then that gives you 15,000. But that’s if you died today.

So if you want to inflation proof that plan, you might want to get some extra coverage, maybe $20,000 or so. But, you know, we help people with that all the time, kind of work through those numbers in different scenarios. And just make sure that you end up with everything covered so that your family members loved ones or children don’t have to pay for this.

NOTE: Show notes are AI transcribed, so there may be some spelling or grammatical errors.