Owner/Insurance Broker, KM Health Insurance Services, Hazel Crest, Illinois
This is a good question. I am sorry for your lost, this is the reason it s so important to get life insurance. If you don't have life insurance, you may want to reach out to your community for help, churches,etc. Talk to the funeral home and ask if there you can arrange a payment plan or if there are other ways to save money.
Quotes are free, explore your options when it comes to life insurance everyone.
Agent Owner, Gilmore Insurance Services, Marysville, Washington State
How to pay for funeral expenses when there is no life insurance? Well the most basic way is to liquidate an asset or borrow from a credit card or dip into a family memver's savings or investments. The problem with all of that is timing. Having to borrow or liquidate investments may cost more than what is spent on the service as cashing out in a down market or borrowing at a high credit rate can make things cost more.
What life insurance does more than any other financial product is create a pool of money when it is most needed to be used for any purpose, without penalty, or tax or market risk.
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Quotes are free, explore your options when it comes to life insurance everyone.
Be Blessed!
What life insurance does more than any other financial product is create a pool of money when it is most needed to be used for any purpose, without penalty, or tax or market risk.