Although it's hard to start a conversation about death and dying, providing employees with a benefit option that will help them ensure their end-of-life affairs are in order can not only provide peace of mind, but also can keep loved ones from paying a heavy price both emotionally and financially for a funeral they were not prepared to plan.

There are two types of end-of-life insurance for funeral planning - final expense and pre-need, says Mark Duffey, co-founder and president of Houston-based Everest Funeral Package. Final expense insurance is a whole life policy that pays for the funeral and unpaid medical bills, while pre-need insurance is sold by funeral homes and resembles a bill of sale through the home, but is funded through an insurance company.

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