How to Get Help With Funeral Costs When Your Loved One Is Terminally Ill
Funeral costs can be expensive, especially when you take into consideration many of the other costs associated with the various diseases and medical conditions which contribute to death in the first place. This financial strain is exacerbated in situations where you or a family member are terminally ill and facing a chronic illness that takes expensive medical treatments in order to prolong your life, such as cancer or ALS.
In these kinds of situations, every expense related to the disease and funeral can be as challenging to manage financially as they are challenging to deal with emotionally. Read on if you’re interested in learning more about how to get help paying for funeral costs when your loved one is terminally ill.
Find Ways to Access Money Early
Many times, people think that they’ll be able to pay for funeral costs using life insurance payouts, only to go into debt and accrue more interest than they’d expected to. This can make it the death of a terminally ill loved one even more devastating since you were relying on money that will no longer stretch far enough to achieve its intended purpose.
These sorts of situations can become even worse if your loved one has required additional medical care in the hospital or costly in-home hospice care that wasn’t anticipated. One of the best ways to avoid going into debt for these sorts of things involves selling your loved one’s life insurance policy while they are still alive.
Many companies like American Life Fund will provide eligible individuals with viatical settlements that can be a much simpler way to pay for medical expenses or be earmarked for funeral services. In order to qualify for a viatical settlement, you must have an existing life insurance policy as well as a chronic condition or terminal illness.
If you’re not sure whether or not you qualify for a viatical settlement, it’s never a bad idea to reach out to the company to learn more about the factors that contribute to whether or not you qualify for a lump sum payment.
Find Ways to Lower the Overall Cost
Just because you want to honor your loved one doesn’t mean that you need to spend an extravagant amount of money to do so. There’s a wide range of ways to lower the overall cost of your family member or friend’s funeral, starting with the way in which their body is prepared. For example, cremation services from a company like Heritage Cremation Provider are often a fraction of the cost of casket-based burials.
Cremations are able to accommodate a wide variety of religious and spiritual beliefs in a way that other burials do not. If you don’t want to spend a large portion of money on burial plots, grave markers, and a fancy coffin, do yourself and your wallet a favor and consider cremation as an alternative way to honor your loved one without going into debt to do so.
A diagnosis of a terminal illness can put a damper on a lot of things, but that doesn’t mean that you can’t use the newfound information to set yourself up for success. Being able to properly prepare for a funeral and the costs associated with it and illness can help you get your financial ducks in a row so that you aren’t economically devastated by a funeral.
By considering less expensive funeral service options like cremation and finding a business like American Life Fund to buy your life insurance policy, it’s possible to emerge for the ordeal unscathed financially. Keep the above tips and ideas in mind as you talk over these hard topics with the other members of your family.
Author: Rupert Singh
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