what is pre-need life Insurance?

Pre-need life insurance is a type of insurance policy designed specifically to cover funeral and burial expenses in advance. Unlike traditional life insurance, which provides a lump sum to beneficiaries for various financial needs, pre-need life insurance is directly tied to a funeral service provider. The policyholder works with a funeral home to plan and prepay for services such as caskets, memorial ceremonies, and burial plots.

Key Features of Pre-Need Life Insurance:

• Covers predetermined funeral and burial costs.

• Payments can be made in a lump sum or installments.

• Funds go directly to the funeral service provider.

• Helps lock in current prices, preventing future inflation.

This type of policy ensures that funeral expenses are taken care of, reducing the financial and emotional burden on loved ones.