Funeral Trust Vs. Final Expense

Why an irrevocable funeral trust is better than final expense insurance?
There are so many types of insurance out there today that it can be confusing for people to choose what to get, especially when it comes to funding your funeral. When deciding whether Final Expense Insurance or an Irrevocable Funeral Trust is better for you there are a couple of major factors you want to look at:
1. When you purchase a Final Expense policy, you are purchasing a small life insurance policy. It might be a term policy or a permanent policy, the only difference are these policies are typically smaller in value. These Final Expense policies are underwritten just like any typical life insurance.
2. An Irrevocable Funeral Trust isn’t your normal life insurance policy. It can either be a single premium or a multi-pay policy. There is no underwriting, so that means is a guaranteed issue to you. The Funeral Trust is issued up to the age of 99.
3. The main difference between a Final Expense policy and an Irrevocable Funeral Trust is that in most states the Funeral Trust is Medicaid exempt. Since Final Expense plans can gain cash value over time and if Medicaid is needed are subject to assets under Medicaid rules. (Please consult an Elder Law Attorney in your state for specific Medicaid rules.)
4. Paying money on a Final Expense policy and having it at risk of being lost is something no one wants to have happen. Protect your assets now and insure that funds will be there when the time is needed and take the burden off others.
The Irrevocable Funeral Trust is the best way out there to preserve and protect your assets that you want to be used for a funeral. Nobody knows what the future holds and because of that you should do everything possible to protect your money.
For more information on the Irrevocable Funeral Trust please call DelcoUSA at 877-336-7782 or visit our website at www.delcous.com