Death Planning
Updated: 09 June 2023
What Does Death Planning Mean?
Death planning is the process of making arrangements and taking practical actions in preparation for one’s own death. In terms of insurance, death planning involves taking out of an insurance policy with death and/or funeral benefits.
Insuranceopedia Explains Death Planning
Death planning is conducted to relieve the person’s dependents and immediate family from the burden of making decisions after their death. Aside from buying insurance plans, it also involves writing a will, estate planning, making an advance directive for medical care, and planning one’s funeral and disposition of remains. In death planning, it is highly recommended that directives in death plan are stated as specifically as possible.
Related Definitions
Related Terms
Related Articles
Commercial Insurance Premiums: How Are They Calculated?
Insurance Self-Service Portal: The Future of Customer Experience
Blockchain’s Impact on Transforming the Insurance Landscape
What Every College Student Should Know About Renters Insurance
Guidance for Nurses: Five Essential HIPAA Compliance Tips
Insuring Your Financial Future: the Crucial Role of Accounting in Insurance
Related Reading
Revealing the Most And Least Popular U.S. Insurance Companies
What Students Need to Know About Insurance Coverage During Internships
A Roadmap for Students Interested in the Insurance Industry
Strong Identity Verification in the Insurance Sector
How to Avoid Online Insurance Scams
How to Get Into the Insurance Industry With a Finance Degree