Burial Insurance Topics
Does Interest Earned On Your Burial Fund Count As A Resource Or Income For SSI?
(Sorry but I’ve always wanted to do that – short, sweet and to the point!)
I will elaborate a little more though – any interest which is earned on your (or your spouses) burial fund is not counted as a resource or, indeed as income for SSI and will not affect your SSI benefit – there, is that better?
The best way to plan for costs associated with a funeral is to have an insurance plan in effect.
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Burial insurance (aka funeral insurance) is a basic issue life insurance policy that covers people until they reach 100 years old. Burial insurance (also known as funeral insurance) is promoted as a way to pay in advance for your funeral expenses so that your loved ones won’t have to pay for your funeral. There are many things you can do to make your death easier on the wallets of those you love. Preplanning your funeral saves money and grief, as well as deciding whether you want to be buried in a casket or cremated and put into and urn, figuring out who gets what part of your estate and all the related turmoil associated with the end of life.