My Wonderful Life

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Funeral Insurance: Is it Worth It?

Funeral insurance acts just like life insurance; you pay a monthly fee and the money is given to your family when you die to pay for your funeral.

Pros 

  • You gain interest, so it covers inflation costs.

  • This money is always set aside for the funeral, so while other debts accrue from medical bills you know this money is always there.


Cons

  • Funeral insurance can be overpriced compared to other types of insurance policies.

  • Some insurance plans decrease their benefits after you reach a certain age.