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Funeral insurance is simply another name for burial insurance, but it provides the same benefit. This type of insurance is a whole life policy that exists with the intention to cover the costs ...
Final expense insurance, also known as burial or funeral insurance, is a specialized type of life insurance designed to cover the costs associated with end-of-life expenses. This product can be ...
Final expense insurance is a straightforward option designed to help cover end-of-life costs, such as funeral expenses, medical bills and outstanding debts.
Juvenile life insurance, or child life insurance, is usually purchased to protect a family against the sudden and unexpected costs of a funeral and burial with much lower face values. Should the juvenile survive to their college years it can then take on the form of a financial planning tool.
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
The industry is experiencing a recent trend toward cremation as opposed to the traditional funeral and burial services due to lower costs and increased value. In 2019, the average cost of a funeral using cremation with a viewing was $5,150, but this does not include the cremation casket, cemetery costs, or urn. [22]
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