Only two things are guaranteed in life, Death and Taxes

Plan for your Final Expenses

Like most people, you’ve probably set aside money over the years to pay for the really important events in your life; a new house, a dream vacation, college tuition for the kids, maybe even a wedding. Planning ahead was a good idea because you could be sure the money would be available at the time it was needed.

There is another certain event that will happen in life, yet most people don’t set aside funds for it; our funeral. The same smart thinking that made you plan ahead for the expense of college applies to funerals too. Many people say they’ll “get around to it” but never do. Putting off such a critical decision can lead to an added burden on families who will be left to plan, pay, and worry about finances in the midst of their grieving.

So how much does a funeral cost? Costs are as varied as families are. The average funeral in the United States is well over $9000.00. When you account for the cost of living in the metro NY/NJ area, plan for that figure to be higher. Funds can be set aside as a lump sum, or a payment plan can also be an option. Some wonder where they will get the funds for this trust. You may have it already, in a CD, a Money Market, or any other financial instrument available to you.

A Funeral Trust is a life insurance plan, specifically created to help set aside funds for final expenses. Anything related to the funeral is considered an eligible expense the trust will pay. Some examples of approved expenses include general services of funeral director and staff, transportation, casketing, embalming, cremation, flowers, clergy, memorial celebration, memorial meal, among others. You don’t need to visit a funeral home now to arrange services.

There are many key benefits to the Trust.

1. Flexibility: Your beneficiaries will be able to use the funds for pay for funeral costs or other final expenses such as medical bills .

2. Fund Value Increases over time: When you set aside funds in advance, the death benefit increases at a predictable growth rate, just like a savings account.

3. Make Tax Time Easier: By transferring funds from an investment such as a Certificate of Deposit or Money Market Account, you don’t have to worry about taxation on growth or 1099 forms.

4. A Program for Everyone: We have a plan that will fit your needs in terms of payment options and health conditions.

5. Consumer Friendly: Any funds left over after paying funeral costs will be returned to either your beneficiaries or estate.

6. Protect your Loved Ones: by making plans in advance, you can avoid placing a financial burden on family and friends.

7. Peace of Mind: Take comfort in knowing your funeral expenses are taken care of.

8. Exempt Asset: The policy may be considered an excluded asset in order to qualify for Medicaid and SSI.

To learn more about Final Expense Insurance