Forethought Funeral Insurance

by Junior Boomer on August 3, 2011

Most of us have health insurance and life insurance; Why not funeral insurance? The cost of funerals can run upward of $10k, with the average funeral being about $6k. This can be quite a burden on those left behind when we pass if we haven’t prepared ahead of time to cover the cost. The forethought funeral insurance company began with this idea in mind.

What is Forethought Insurance?

Forethought funeral insurance is basically an insurance policy that you make payments on, that will cover your funeral costs when you die. You choose how much coverage you need and make payments based on that coverage.

However, it’s a little bit more then just insurance to cover your funeral. After all, life insurance is designed to help with your end of life financial needs, so why funeral insurance too? With Forethought Funeral Insurance, you meet with a funeral director to plan your funeral and choose the services you would like. While that sounds morbid to some people, it is actually a good idea to decide what you would like for your services, and what things you want to pay for and what things you can skip. In their grief over your death, family and friends may not be clear headed enough to make the best decisions. Taking that burden off of them, allows them to grieve in their loss of you without having to worry about funeral details.

Deciding What You Need

It’s hard to decide what coverage you need if you don’t know what you would like for your funeral, or don’t know enough to make an informed decision. That is why meeting with a funeral director is one of the steps in getting Forethought Insurance. The funeral director can guide you through choosing what type of casket you want, what type of headstone you would prefer, and what services you want at your funeral.

What if You Change Your Mind?

You may purchase your funeral insurance and plan your services when you are in your 50′s, but then decide by the time you reach your 80′s that you want things differently. With Forethought Insurance, you are always welcome to meet with the funeral director again and change what you would like with your funeral. You can also transfer your policy to another funeral home should you move over the years.

Is it a Good Idea?

When you are young and healthy, it is a great idea to plan for your funeral. You have time to think things through in a smart and careful way and are unhurried in your decisions. Your investment earns interest and increases with the cost of funeral increases to be sure all of your costs are covered.

At this time Forethought Funeral Insurance is a very specific insurance, only offered through this company. There is some risk in that, should this company dissolve. However they have been in business for almost 30 years. If you already have savings for your funeral costs, funeral homes will help you pre-plan your funeral and pay in advance for the services, making this insurance unnecessary.

Creative Commons License photo credit: Jeremy Brooks

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