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I would like to take a moment to introduce myself – I am Karla Leonard-David, CEO of IMI Asset Management Company. I hold a double B.A. in Business Economics and Art History. IMI Stands for Investment Management International and was originally founded in 1995. In 2012, IMI went through a complete transformation. That transformation included implementing a complete social media presence. I have designed and write an educational blog that is posted to my personal and company Facebook and LinkedIn pages. These articles are a tool to inform and educate on financial planning topics. The biggest part of that transformation occurred when IMI became a full service asset management company. IMI has partnered with Jerry Vines, MBA, EA and the Law Office of Sharon Morff, to offer a fully engaged estate planning package, designed specifically to your goals. Most people do not have a solid financial plan. A reason for this is that most lack insight into what is going on in the financial industry. I realize that the process of creating a strategy for retirement can feel pretty intimidating which is why I am constantly searching for new materials, whether they are videos, articles or just questions and answers to share with everyone. IMI Asset Management Company is focused on the belief that our customers’ needs are first. I am committed to meeting those needs. I am a firm believer of the personal touch, which is so lost in today’s world. As a result, a high percentage of IMI’s business is from repeat client business and referrals. IMI Asset Management Company was selected in 2012 by the USCA as the recipient of the Best of Rancho Cucamonga Awards in Financial Planning. We want you to be able to assess, from these insights, your financial portfolio to ascertain that it is aligned with your ultimate goals for your retirement and passing your estate probate free down to your heirs. We strive to make sure you evade the costliness that can result from poor planning. We would welcome the opportunity to earn your trust and deliver you the best individual and personalized service in the industry in helping you obtain your goals. We invite you to come “join” our IMI Family.
Does Life Insurance Cover Funeral Expenses?
Planning for the future is a smart financial move. As you prepare for retirement, remember to make funeral preparations. Since the average funeral costs over $7,000, you'll want to save enough cash or pre-pay this inevitable expense. You could also purchase life insurance that covers your funeral costs. Term Life Policies Is a term life insurance policy part of your employee benefits or did you purchase a policy on your own? It only covers you for a set number of years. If you die before the term ends, the policy could be used to pay for your funeral. However, that's not the case if the policy expires before you die. Relying on a term life policy to pay for your funeral is a risky move. Whole Life Policies A whole life insurance policy remains in effect for the duration of your life. As long as you pay the premiums, this type of life insurance doesn't expire, end or mature until your death. Your beneficiary can use a whole life insurance policy to pay for your funeral. Also, if you purchase a whole life policy as a young person, it grows in cash value. Use that cash to pre-pay for your funeral today rather than wait until inflation raises the costs. Talk to Your Beneficiary Since the life insurance beneficiary decides how to spend the policy's proceeds, talk with him or her before your death. Discuss your funeral wishes to ensure your life insurance funds are used for the funeral you want. Pre-Plan Your Funeral Despite your best intentions, your life insurance policy could be held in limbo for weeks, months or years. Consider pre-planning your funeral. Figure out if you can assign a portion of your life insurance policy to the funeral home to cover final expenses. Then discuss specific details about the service and interment and lock in today's rates as you save money and relieve the burden on your survivors. Life insurance certainly can pay for your funeral expenses. Just make sure you purchase an adequate policy today before you need it.
Karla Leonard
Other articles by: Karla Leonard
Categories: Life Insurance, Money Management, IMI Asset Management Company
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