At Fares J. Radel Funeral Homes, we consider it part of our service to make a challenging experience more comforting. From your first contact with us through following up on services, our caring staff will help you through this difficult time.
We have found that there are two things; in particular, a person can do while they are living to help make their passing slightly easier for their families. The first is pre-planning. When you pre-plan your funeral, you take the guesswork out of final plans and relieve the burden of decision making from loved ones. We have seen first-hand how less stressful a pre-planned funeral can be on families.
The second thing a person can do is to make sure they have an adequate amount of life insurance. There are a variety of reasons life insurance is such a good idea.
- It can cover final expenses. One of the main purposes of life insurance is to cover the costs of final expenses. Even a modest amount of life insurance can make planning a funeral less stressful for the family. Choices can be made for the right reasons and not be so budget based.
- Life insurance can help with family expenses. The death of a loved-one can leave a trail of debts from loans, medical expenses, mortgages, and more. Life insurance can help clean up these debts and help the family through a challenging period.
- It can help provide for college. Proceeds from life insurance can be targeted for the future education expenses of children or even grandchildren. This allows you to affordably leave a legacy.
- Life insurance proceeds are not taxable and do not go into probate. The proceeds from a life insurance policy go directly to the beneficiary. They do not go into a deceased’s estate and do not get taxed as income.
- It provides peace of mind. Life insurance provides peace of mind for both the insured and those left behind. It is comforting for all to know that a death will not be a financial burden on the family.
What You Should Know about Life Insurance
Multiple factors affect the premiums charged for life insurance, the biggest of which are age and health. Life insurance is generally less expensive the younger you are and the healthier you are. Other factors can include whether you have a dangerous job or hobbies, if you use tobacco and if your height and weight are in alignment.
There are two basic forms of life insurance, term and whole life. Term insurance covers the insured for a specific period of time like 10 or 20 years. Whole life insurance covers the insured as long as the premiums are paid. Because term insurance is less expensive, larger amounts of it can be purchased affordably. Whole life insurance generally builds a cash value as years go by and is a financial asset.
At Fares J. Radel Funeral Homes and Crematory, we know there are steps that can be taken to make dealing with the death of a loved one just a bit easier. Life insurance is one of those. That is perhaps the biggest reason life insurance is such a good idea.