Rowena admits it was a TV ad that convinced her to buy funeral insurance. She'd be happy with a "no-frills" send-off but says she feels trapped in the arrangement, which will see her pay $40,000 by the time she's 90.
Easy solution. Unless she suffers a serious medical condition, she’s very likely to live for many years to come.
Accept the loss and cancel the insurance and open a joint account both daughter and mother can access. Redirect both premiums going forward to this account. Assuming both are paying premiums, there should be enough to cover a funeral within 5-7 years.
Easy solution. Unless she suffers a serious medical condition, she’s very likely to live for many years to come.
Accept the loss and cancel the insurance and open a joint account both daughter and mother can access. Redirect both premiums going forward to this account. Assuming both are paying premiums, there should be enough to cover a funeral within 5-7 years.