Is burial insurance worth buying?

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asked Jul 21, 2020 in Insurance by daytona98s (300 points)
Is burial insurance worth buying?

1 Answer

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answered Jul 22, 2020 by Shawn (99,990 points)
Burial Insurance can be worth buying for some people.

However for some people buying burial insurance is not worth it and usually for most people it's much better to just pay the funeral home directly for your funeral ahead of time.

However if you're not gonna be dying soon as in within 10 years or so then it would be worth buying the burial insurance and have someone connected to the burial insurance that it can be paid out too.

Then you can set up your final wishes and then have the family member use the burial insurance to pay for your burial expenses.

If you have no dependents then having life insurance is not worth it but if you have dependents who rely on you for income then having life insurance would be worth it.

Me personally I just plan to be cremated and my family can take the money out of my account with my permission and pay for the cremation expenses so to me burial insurance is not worth it.

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