Funeral Arrangements

Funeral Arrangements

Make your wishes known about your funeral, memorial, or burial arrangements in writing. Be cautious about prepaying because there may be risks involved.

For information about the least costly options, which could save you several thousand dollars, contact a local memorial society, which is usually listed in the Yellow Pages under funeral services.

Before selecting a funeral home, call several and ask for prices of specific goods and services, or visit them to obtain an itemized price list. You are entitled to this information by law and, by using it to comparison shop, you can save hundreds of dollars.

Life Insurance

Life Insurance

If you want insurance protection only, and not a savings and investment product, buy a term life insurance policy.

If you want to buy a whole life, universal life, or other cash value policy, plan to hold it for at least 15 years. Canceling these policies after only a few years can more than double your life insurance costs.

Check the National Association of Insurance Commissioners website (http://www.naic.org/cis/) or your local library for information on the financial soundness of insurance companies.