When our loved ones pass, it feels like the world stands still.
But all that is happening against a backdrop of immobilizing grief.
We dont have to resign ourselves to skipping a celebration of our loved ones lives, though.
Is life insurance taxable? No,except in these four situations.
Processing times for claims vary dramatically depending on the insurance company, though.
The quickest companies issue payouts within a few days, while some companies can take up to two months.
You want to do everything you’re free to to speed the process along.
Its worth asking how long claims take to pay out.
Iflife insuranceis your only form of funding, it may affect how you deal with interment.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
One notable exception isFEMA funeral fundingfor COVID-related deaths, which extends until September 30, 2025.
The level of service you get is going to be highly dependent on who staffs the office, though.
Another route you could pursue is a local nonprofit that works in welfare recipient advocacy.
However, getting the funding is typically a long, drawn-out process that can take months.
In some instances, spouses and children of veterans can also qualify.
Typically, people apply for reimbursement through this program rather than claiming the money upfront.
This can get particularly difficult if their religion dictated a burial within 24 hours of death.
In these cases, do not feel bad asking the congregation for help.
Dont be shy about asking for assistance, even if the expenses pour over to the funeral home.
She is a regular contributor to The Penny Hoarder.
The Penny Hoarder staff also contributed to this post.
(Can you sense my millennial sarcasm there?)
You know which ones were talking about: rent, utilities, cell phone bill, insurance, groceries…
