What is Burial Insurance and How Does It Help You Cover Your Funeral Costs?

 In Family Resources, Legal Services

After a loved one dies, money may be the last thing on your mind. But funeral costs in New Jersey just keep going up! This can leave your family in a tight situation, especially if you haven’t purchased burial insurance. Keep reading to see how burial insurance or funeral insurance can help protect your resources.

Burial Insurance Vs. Funeral Insurance

First off, let’s define our terms. Funeral homes in NJ know that burial insurance and funeral insurance are one and the same, just by different names. After all, your funeral might not include burial if you choose cremation or certain types of green funerals. Either of these services help to cover end-of-life costs, paying out according to the policy. Some policies must be taken by the deceased, with beneficiaries designated, some policies can be taken out by friends or family.

What Funeral Arrangements Will Burial Insurance Cover?

If you have burial or funeral insurance, you may be relived to know that most of your funeral arrangements will be covered. NJ’s funeral directors can help with the details, but most policies cover the preparation of the body, the viewing and funeral or memorial service, the cremation and/or embalming process, the casket, headstone, and other funeral-related costs, such as flowers or catering. Some burial insurance will cover interment. Keep in mind that funeral insurance can sometimes be used to pay medical bills or outstanding debt, but may reduce the amount available to plan your funeral in NJ.

Are Life Insurance and Burial Insurance the Same Thing?

If you have life insurance, doesn’t that cover the funeral arrangements? Not always—check with your insurance carrier for the details! Some whole life insurance policies include burial or funeral coverage, some policies can be purchased separately. It’s always a good idea to review your needs and talk with your insurance agent about your funeral insurance.

If you need assistance navigating the burial insurance policies or benefits, don’t hesitate to call the team at Smith Taylor Funeral Home in Dover. Our funeral directors and administrative assistants can help you understand and use your burial insurance to best plan your or a loved one’s funeral in NJ.

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