Protect your life insurance policy to ensure funds go to the right place.
BetterLife’s Funeral Expense Trust allows your life insurance death benefit to be paid to any funeral home. Your loved ones will be able to tell the funeral home about the funeral trust so they can work directly with BetterLife. We will work directly with the funeral home to ensure that they receive the benefits our members have set aside without any additional stress to the family.
By placing your life insurance coverage in a funeral expense trust, you are no longer the owner of the policy; therefore, the coverage is not your asset. The Funeral Expense Trust protects the life insurance benefit from the recovery and spend down requirements of Medicaid. Using the Funeral Expense Trust allows you to protect your benefit in the event that you need to go into a nursing home.
The Funeral Expense Trust works with our Simplified Issue, Graded Benefit, and Guaranteed Issue Whole Life products with a maximum face amount of $15,000, unless your individual state regulations specify otherwise.
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