What Is Burial Insurance and Should I Buy It?

|
Advertisement

Money expert Clark Howard is no fan of burial insurance.  As we mentioned earlier, he says the idea of an insurance policy to pay for an expensive funeral or cremation is looking at the problem backward.

Instead, Clark recommends joining a nonprofit memorial society: It usually costs a nominal fee: $25 or $35 for life. Membership gives you access to reduced pricing on final arrangements. The Funeral Consumers Alliance at Funerals.org can help connect you with a local chapter.

“If you have a non-profit memorial society near you, you know you’re going to be able to do a cremation for hundreds of dollars and typically a burial for a couple thousand, so to insure for that makes no sense,” Clark says.

But even if you don’t have time to plan arrangements through a nonprofit memorial society, you or a loved one can use a site like Funeralocity.com to comparison shop.

You can get the pricing right on the site, access to exclusive Funeralocity pricing discounts, read Google reviews of providers and more.

“The idea is instead of feeling like you’re a sitting duck and you have to pay whatever the funeral home tells you, what you do is make the end-of-life arrangements much more affordable, and then you haven’t created this burden you’re trying to insure,” Clark notes.



Advertisement
Welcome bonuses can be a great way to boost the value of a credit card. Best Credit Card Signup Bonuses for 2021 - If you're in the market for a new credit card, you may be hoping to cash in on the hundreds of dollars in signup bonuses offered to new customers. Signup bonuses and offers are a marketing tool that credit card…
The best cell phone plans include Tello, Mint Mobile, Visible, T-Mobile, Consumer Cellular and more Best Cell Phone Plans and Deals in 2021 - Team Clark ranks the best cell phone plans and deals! See our favorites for unlimited data, families and cheap plans starting at $10/month.
  • Show Comments Hide Comments