Does Life Insurance Cover Alternative Burial Costs?

Life insurance is something that we can all benefit from. Being able to know that after we pass our loved ones are not going to struggle to pay final expenses can be very comforting. For those in the Denver, CO area, the agents with AFI Insurance can help you create your ideal policy.

Life insurance is not designated for one expense or other in most cases. When you take out a life insurance policy you are not naming what the money is to be spent on, but rather who the money is going to be paid out to and then they decide what to do with it. You can ask your family members to keep your final wishes in mind and can ask that they use the money to pay for a specific type of burial but there is no way that you personally can use your life insurance to pay for end of life expenses. A better way to go about it is to create a will that outlines what you want to be done with your body when you pass. You can then designate one person, or one beneficiary, to collect the life insurance and carry out those wishes.

You can also leave life insurance money to children, dependents, friends and more. The only stipulation is that if you are taking out a life insurance policy on another person, you have to have some sort of vested interest in them. This is to prevent people from taking policies out on strangers. The money from a life insurance policy can be used for any expense and is a great way to make sure that your family is well taken care of even after you pass. For those in the Denver, CO area, the agents with AFI Insurance can help you to get your perfect policy.