How pre-need funeral insurance pays for your plan
Think of it as two documents that work as a pair. The funeral plan says what you want. The insurance policy is set up to pay for it.
Who issues what
Your arrangements are recorded with Inglewood Cemetery Mortuary. Your policy is issued by Homesteaders Life Company. Janie explains both at the table and you leave with copies of each.
What Homesteaders Life describes as the benefits
- It is offered through partner funeral homes; here, that is Inglewood Cemetery Mortuary.
- It is designed to make your wishes clear and lighten the load on your family.
- There are several ways to pay, and the coverage lasts your lifetime.
- Because the funeral is funded, your other savings can go where you meant them to go.
- If you move, the policy can move with you. Coverage may grow over time to help offset rising funeral costs; whether prices are guaranteed depends on your funeral agreement.
Before you sign, it is worth looking up the insurer yourself. AM Best (opens in a new tab) publishes current financial strength ratings, and the California Department of Insurance lists every licensed company and agent.
Why you won't find a price on this site
The cost of a funeral comes from the funeral home's General Price List, and the cost of a policy depends on the plan you choose and your application. A number posted online would only be a guess, so Janie goes over the actual costs with you, in writing.
When the day comes
Your family makes two calls, to Inglewood Cemetery Mortuary and to Janie, people who already know your plan. The funeral home follows what you wrote down, and Janie stays in touch with the family. How and when a claim is paid is set by the policy and the insurer's process, so Janie never promises a timeline.
A word about savings
Paying for a funeral plan should never mean cashing in a retirement account or an existing annuity on Janie's say-so. If you are weighing a move like that, speak with a tax professional first, and read Janie's guide to 401(k) options to see every choice side by side.