Subject: Re: buying burial insurance

Comments:
: Have you ever imagined what your funeral would be like? What kind of service there would be? Or even what kind of coffin you would prefer? : Morbid? Perhaps. Unreasonable? Not at all. There are plenty of reasons to preplan and, if possible, prepay your final arrangements long before the need arises. In fact, a product called "preneed" insurance, also known as burial or funeral insurance, is intended for just that purpose. : Unlike some other types of insurance, this is less a "what if" financial strategy and more a question of "when." With this coverage, you can plan many details of your funeral, including the products and services that it will entail, and pay for them in advance. : "People aren't buying this for the financial benefit, but rather to lock in and prearrange their funeral their way," notes Kevin Gough of Conning & Co., a Connecticut-based insurance research firm. "Whether it's a velvet-lined casket or a particular type of service, it guarantees they'll have the funeral they want." : On the surface, it seems like a relatively straightforward purchase. But a spate of funeral insurance scams across the country involving thousands of policyholders shows that you must do as much homework when buying burial insurance as any other type of insurance, perhaps even more so. In fact, there has been so much controversy in the industry -- particularly accusations that elderly people are being duped into paying more in premiums than they will ever receive in benefits -- that states such as Florida have sought to ban the policies outright.

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