Many individuals organize a life insurance policy to be able to pay their funeral bill on time, without causing problems to family members or friends and effectively asking them to fund the cost of the funeral home and its expenses until the insurance policy pays out. Non-recourse funeral funding is a professional arrangement where your life insurance policy is assigned to a funding company so that they can receive the funds and pay your bill on time, with further funds assigned to those you have listed in your last.
Quick Access to Life Insurance Funds
By providing the quickest possible access to your life insurance funds, the funeral home will be paid on time. This is one of the biggest worries that concerns individuals who may feel they are responsible for paying the funeral home’s bill when it is due.
Without a non-recourse funeral funding arrangement in place, there may be months of delays before the funds become available as your attorney must organize all the finalization of your estate before they can assess who can be paid and when. In the meanwhile, those you leave behind may have to access their personal funds, if they have some, to be able to pay the bill direct to the funeral home.
Making the arrangements for the assignment of a life insurance policy that forms the non-recourse funeral funding is straightforward for those involved with completing this professional work. This is not a simple task for individuals to attempt.
By completing these arrangements in advance, your family will be free to be able to spend their time grieving appropriately because you will have removed their worries about how the funeral is to be financed. This will enhance the way they feel about you because you have been so kind and considerate in advance.
