My Wonderful Life

Funeral Insurance


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. 

 

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