Funeral Planning Archives

Funeral Planning

Is Final Expense Insurance Taxable Income for Beneficiaries? No!!

No, final expense insurance proceeds are not taxable income for beneficiaries. According to the IRS, life insurance death benefits are classified as an indemnity payout. This means they are exempt from federal and state income tax meaning final expense life insurance is 100% tax free to your beneficiary. Beneficiaries do not need to report the…

Funeral Insurance Policy Valid if I Move States?(Find out Now)

Yes a funeral insurance policy is valid if you move states. A final expense life insurance policy stays valid no matter what state you relocate to. A pre-need funeral insurance policy can be a massive headache to transfer with a new funeral home not having to honor the pricing and tedious reassignment and fees! That…

Using Final Expense Insurance for Out of State Burial & Transport

A final expense death benefit is a cash payout to your beneficiary which can be used for out of state burial and transport. Any end of life expenses can be covered by the death benefit of the burial policy. The flexibility of having cash in hand for your family ensures they can bury you in…

Does Social Security Pay a Burial Death Benefit?(The Truth)

Yes Social Security does pay a death benefit for a burial but it is only a $255 one time payment paid to your surviving spouse or dependan’t children under 18. This is not enough to cover your average funeral today which costs typically 7,000 – $10,000(traditional burial) or $4,000 – $7,000(cremation). We will further explain…

U.S. Cremation vs. Burial Statistics: What Percentage of Funerals Are Cremations?

If you are wondering what percentage of funerals are cremations, the latest data tells us that cremation has now become the preferred method of final disposition in the United States, surpassing traditional burial by a huge margin. The data below shows how this trend has taken over the United States. U.S. Cremation vs. Burial Rate…

Tree Pod Burial Costs an Eco Friendly Option

Tree pod burial costs are much more affordable compared to traditional burials & cremations. Typically you will save over $1,000 or more by opting for a tree pod burial which is also a much more eco friendly option. If you are looking to save money on a burial and care about the environment than this…

Disadvantages of Prepaid Funerals Listed & Explained

There are a lot of disadvantages of prepaid funerals in fact even Dave Ramsey says you should “preplan, not prepay”. Prepaying a funeral is not a good idea and definitely not worth it considering all the disadvantages we are going to discuss. It is not smart to pay a funeral in advance because the disadvantages…

Does Medicaid Cover Funeral Expenses? No it Does Not

Are you wonder does Medicaid cover funeral expenses? The answer is no, Medicaid does not cover 100% of funeral expenses and it does not offer financial assistance in every state because their benefits are done on a state level. Only Indiana, Wisconsin, Colorado and Wyoming offer any kind of Medicaid financial assistance for burials and…