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Planning for the Future

If one of your goals in 2017 is to improve your financial security and give your family peace of mind - consider Final Expense Insurance or an Irrevocable Burial Trust. Your Health Insurance Shop can help you decide which will work best for you.

Both are different than a prepaid funeral plan. Pre-paid plans lock you into doing business with one funeral home. Life and circumstances change over the years. It's possible you may move out of the area to live closer to a family member or the funeral home or ownership could change or be out of business in ten or twenty years.


With final expense life insurance, there are no restrictions on how to use the money and it is TAX FREE. The money can be used for all funeral expenses, as well as paying final bills, ambulance expenses, even paying off the mortgage. Whatever money is left over goes to the beneficiaries.


An Irrevocable Burial Trust is a valuable option that protects your assets that you want to designate for your final expenses. The funds are only used for funeral expenses and are protected from creditors. They are also considered exempt assets if you need to apply for Medicaid, Supplemental Social Security Income (SSI) or VA benefits. Any remaining funds would be placed into the estate of the insured.

An Irrevocable Trust can be established with a single one time premium or budgeted with an annual, semi-annual, quarterly, or monthly premium.

If you or a loved one requires nursing home or assisted living care, it is often recommended as a requirement of admission that funds for funeral arrangements be set aside.

Whether looking for yourself or a loved one, the Senior Product Specialists at Your Health Insurance Shop can help you find the best, most cost effective option.

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