My husband is under hospice care and I wanted to know how much it will cost to bury him. He has life insurance, but, when I talked with the people at the place where I would like to bury him they told me about the cost of prepaying for his burial. I told them, he has life insurance and I just wanted to check their prices on various things. While I was there, I picked out the space, markers, etc. However, they told me if I make a down payment and make installment payments, now, I would get a discount because he has not passed yet.
I need advice, has anyone prepaid for a burial plot when you have life insurance? I do not know if this is a wise choice to make installment payments when you have life insurance. Please advise.
Thanks.
Ann
Becky, is your funeral prepaid? Because unless your life insurance stipulates that it goes towards funeral costs, the beneficiaries do not have to use the proceeds towards your funeral and then receive the balance. My GFs stepmother left a $100,000 policy to her daughter. It was assumed the daughter would cover the funeral costs and receive what was left over. That didn't happen. The daughter pocketed the entire $100k leaving the husband to foot the bill. This was a late in life marriage and both retired on fixed incomes. The daughter lived in a trailer owned by GFs Dad. He explained if she was not going to pay the funeral costs (that I am sure her mother had told her should be done since she knew she was dying) he was selling the trailer to offset the cost. She didn't pay and he sold the trailer.
I knew exactly what my LO wanted and everything is now in place.
There IS a small life insurance policy I think, and those funds will go into the estate.
I actually took funds FROM her estate early in her illness, and paid for her funeral in full.