If you're someone who likes to take care of things in advance, you need to make sure that you have burial insurance — even if you think you have plenty of life insurance. Burial insurance activates as soon as you pass away, which means there won't be any delays in coverage. One of the problems with life insurance is that it can take several weeks, or even months, to process a claim. Unfortunately, that means your loved ones may need to wait for your burial. Here are four additional reasons why you need to purchase burial insurance.
You Have Health Issues
If you have health issues, it's important that you purchase burial insurance. Of course, no one knows when they'll finally pass. However, health issues can make an early passing more likely. If that's the case, you want to make sure that your estate plan is in place for your family, which includes having burial insurance to cover the final costs.
You're Worried About Rising Costs
One of the problems with inflation is that costs increase across the board. That includes the costs for funerals and burials. If you're worried about the rising costs associated with funerals and burials, you need to invest in burial insurance. Burial insurance will help you control inflation rates by locking your funeral plans into place, which means there will be sufficient funds to cover your final expenses.
You Don't Want to Pass the Expense to Your Family
If you don't have life insurance or burial insurance, your family will be left with the final expenses. Unfortunately, those expenses can be quite high. This is particularly true when you consider everything that's included in burial plans, such as the cemetery plot and casket. Not only that, but there are also fees associated with the opening and closing of the grave. Burial insurance will ensure that those expenses don't get passed on to your family.
You Want to Have Everything in Place
One of the problems with not investing in burial insurance is that there will be loose ends left behind when you pass. If you don't like loose ends, burial insurance can help you tie them off. You can include specific plans for your burial insurance, such as how you want the money to be spent on your funeral.
If your estate plan doesn't include burial insurance yet, you need to add that as soon as possible. You're never too young to make sure that you have insurance in place for your final expenses, so talk with a company that provides burial insurance.