Funeral Trusts
Like most people, you've probably set aside money to pay for many of the important events in your life. Planning ahead is an important part of life if you want to make sure that you don't leave a burden for others to fix.What About Funeral Planning?
In the past there have been four common ways to pay for a funeral:
- Life Insurance: These are funds intended to be left to your family and may not be immediately available.
- Personal Savings: These are funds for day-to-day living. In the event of a lengthy illness, they may have eroded significantly.
- Credit card or loan: This approach leaves heirs with debt.
- Family and friends: Borrowing from family and friends can be embarrassing and a financial strain to repay but is often the only choice due to a lack of planning.
Fortunately, there's a better option...
A designated, prefunded plan that combines the financial stability of insurance with the security of a trust and is commonly referred to as a Funeral Trust. Below are some comparisons of common ways to pay for burial expenses.
How To Get Started
Work with your licensed Financial Professional and establish your trust-protected final expense insurance policy easily by:
- Lump sum transfer from savings, CDs, money market accounts or checking.
- Transfer funds from a pre-existing life insurance account or other unused financial investments
- Add to the fund in installments over a period of years.
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