Life Insurance Proceeds Part-1
When a death occurs a family will have many issues, having to come up with money for the cemetery and funeral expenses is just a part of it. How does one come up with so much money in a short period time?
Well we either have been planning in advance for our death and we have already paid for the expenses or well take it from savings. But let’s say that we haven’t been wise enough to plan for our death in advance, what will our family and friends have to go through. We could use credit cards; most places will accept them nowadays.
What if we have used up all of our credit line, then what? We could try to borrow money from the bank, but that may take to much time. We could ask our friends, some will be able to help. Hmm!
How about life insurance, we have been paying on that for lots of years. Oh, we missed paying on that for a couple of months because that was term life insurance, things got pretty tight. They canceled our policy, but we were able to reinstate that, thank God.
We have something to work with life insurance proceeds. Now how does that work? First we give our policy information to our Funeral Counselor, they then in turn call the life insurance company to verify face amount, beneficiary and if there are any loans or liens against the policy. Also the policy must be assignable, not all policies are, especially if you’re working for a Government Agency.
Well that is a relief, we can use the life insurance policy to pay for the funeral services, and the insurance company gave a green light… You probably will be able to do the same thing at the cemetery; they will do the same exact process and verify the policy, since it is usually two entities you are going to be dealing with…
===============================================
Article Re-print Rights Information
You may re-print this article published on this website as long as
you comply with following terms:
Article must be published “as is” (unedited). Article must be published with below the author’s bio paragraph (resource box) and copyright information included. URL in the resource box should be set as hyperlinks. Article cannot be used in spam communications
Bio paragraph (resource box) below:
—————————————————————-
ABOUT THE AUTHOR:
John Harris, is a licensed Cemetery Broker in the State of California. He has personally served over fifteen thousand families in preparing for cemetery and funeral services. He can be reached through his website: http://www.cemeterybroker.com
—————————————————————-