When it comes time to start advance planning a funeral, you’ll find that there are several options open to you. In addition to purchasing a plot or pre-paying for services, you can also choose to buy a funeral insurance policy. Like life insurance, this policy is paid out at the time of death—though usually in a matter of days rather than months, which helps you to cover the immediate costs of the funeral.
Burial insurance might be another term thrown around as you decide which type of pre-payment plan is right for you. This option sounds more specific than funeral insurance, in that it might be earmarked just for the burial process, but the truth is that both types of insurance are the same. They are flexible and affordable options designed to help cover the costs of interment (either burial or cremation, as the case may be).
