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What to Know about Making End-of-Life Plans

End-of-life planning can be stressful and emotional, whether you do it in advance or after the death of a loved one. As you plan, use caution and rely on trustworthy family and friends. Some people may try to take advantage of you by taking your money or selling you goods and services that you may not want or need. These people are called scammers. Keep reading for ways you and your family can stay safe and make good decisions when making end-of-life plans.

Do you want to buy a life insurance policy—something you pay for now so others will receive money after you pass away Or a variable annuity—something you pay for now and get a monthly income from while you are still alive? Then be careful! Scammers—and even some real insurance agents—may try to trick older adults into buying life insurance policies or annuities that won’t work for them or are fake. Make sure the insurance agent is registered in Tennessee. Look up agents online and see if there are any complaints about them. Don’t pay money to insurance agents or investment advisors who are pushy or only offer things that earn them a lot of money. Always take plenty of time to read and understand papers and contracts before you sign them. Here are some common insurance scams

Funeral services can be pricey, with the average cost in the United States nearing $10,000. Be careful - some funeral service providers try to sell you additional goods or services that you may not want or need. Always research your options and rely on trusted family and friends to help make the best personal and financial choices. Cremation and immediate burial services can be less expensive ways to honor a loved-one. The Federal Trade Commission enforces the Funeral Rule to allow you to compare prices among funeral homes and only pay for the goods and services you want or need. Read about how the Funeral Rule can protect you at www.consumer.ftc.gov/articles/0300-ftc-funeral-rule.

Some scammers will claim that the deceased had unpaid debts. The scammers read obituaries, and then call or attend the funeral service. They ask family members or friends to pay the fake debt. Remember:

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