My Mom is almost 82, she has some money in her savings for her Assisted Living, and I am quite sure we will need it for that. Also, my Dad was a Vet and when he passed away, he still paid 7,000 (money in savings) for his death expenses. I was shocked when it still cost 7000.oo, We live in Taylor Tx and he was buried in Kileen Tx, state Sematary, he had full honors and his burial plot and headstone the VA paid for because of his long service in the Air Force. My Mom has a place beside him and the plot and the headstone will be taken care of by the V.A. We paid 3,000 for his coffin and 4 grand for the rest. I was shocked that it still cost as much as it did. I may of got off track here, but wanted to give you a back ground on it. So, does any one know any thing about burial insurance and are they a rip off? Thanks
In Wisconsin just this past year 2012, the Funeral fund there is $20 million short on future liability (risky investments)
A true Funeral Trust, is not tied to any specific Funeral home, is not purchased there, but a Funeral home can be designated, they can agree on a fixed price but the Funeral home is not the beneficiary, (and should not be) so the trust is portable to account for life changes if they occur. A Funeral Trust is Medicaid Exempt, and is fully insured. Any excess not spent is received by the estate.