Michigan Burial Insurance

A checklist for buying Michigan burial insurance

Because the cost of a funeral continues to rise, the traditional $10,000 burial policy purchased in the past will probably not cover the bill when the time comes. Many people are choosing not to not to leave the burden of burial costs with family and friends. Instead, they are preplanning by purchasing an affordable burial insurance plan.

Key thinking points about a burial plan

• Before buying coverage, discuss your options with your family and lawyer to make sure it is consistent with your will and estate planning.

• Verify the license of the agent, company or funeral director before doing business.

• Take advantage of any "free look" laws your state might have to review your policy before you are locked in.

• Make sure the funeral plan can be moved to any funeral home at any time. You need to know this just in case you move.

• Does the plan have a price guarantee? Will the money you pay today for a burial plan is enough to cover costs later? Does this plan lock in the price of the type funeral you want?

• The policy should be very specific in identifying the type of outer burial container you have purchased.

• The plan should clearly state the kind of marker you have purchased, including size, material, and style, preferably include a sketch.

• Make sure you receive your burial insurance policy in a timely manner.

• Request that you receive at least and annual statement each year detailing the status of your account.

• Be sure to clearly understand what happens if you cancel your policy. Will you receive a refund? What happens with the plot?