“Going away” isn’t as cheap as it used to be – Today the average traditional funeral costs between $8,000 to $15,000.
Fortunately, there’s insurance available to protect your family from those unexpected final expenses.
Your best legacy is good final expense policy
With the right funeral insurance you’ll have peace of mind in assuring a debt-free legacy for your family.
Let’s calculate the typical cost of final expenses and look at some ways to help manage them effectively –
Hiring a funeral director is easy with burial insurance
The average cost for a funeral director and staff is around $650 these days.
It’s best to choose a final expense insurance plan that offers multiple options for covering the administrative cost of a funeral.
That way you can choose your own preferred funeral director, perhaps one located in your neighborhood.
Or, you may decide to leave all the arrangements for another family member.
Either way final expense insurance can help protect you and your family against future financial burdens.
Just like any other expense in life, funeral planning costs less if you do it now.
Desperate family members without insurance often end up paying high prices to funeral directors who are only available at the last minute.
Instead, it’s better to plan ahead by finding the right final expense insurance now.
Embalming is another final expense
Embalming is a standard service required by nearly all local health authorities unless cremation is chosen instead.
Although we may not like to think about it, embalming is critically important. Nationwide the average cost is about $700.
Preparation costs other than embalming must also be included in a funeral budget. Nationally, these additional preparation costs average about $385.
Still, there’s nothing to worry about if you have the right final expense policy.
You can have peace of mind because all these costs are covered by final insurance.
Final policy coverage for the viewing and ceremony
Over the years you’ve probably accumulated more friends and family than you realize.
So, you’ll want to make sure that everyone who knows and loves you will be able to attend services.
Whether you want a lavish send-off or a simple ceremony, early planning reduces future outlays.
Nowadays the average memorial ceremony and related viewing will cost around $900.
With the right final expense insurance you’ll be able to set an appropriate budget for viewing and other funeral costs.
That way you’ll leave a clean slate for family members instead of a legacy of debt.
Last ride to the cemetery is another burial cost
Just like any other kind of specialized transportation services, a last ride to the cemetery costs more than an ordinary car trip.
Because of strict transportation requirements, the basic minimum cost of bringing any remains into a funeral home is around $200.
Then, a typical hearse ride from the funeral home to the cemetery costs $275 on average, and a limousine for a few family members costs another $200.
These prices may seem too high for casual shoppers accustomed to taking advantage of one-off bargains. Yet, they’re the national average prices.
Unfortunately, family members facing last-minute time pressure often spend far more on booking the necessary transportation.
That’s because hearses and other rarely-used equipment must be scheduled long in advance.
You can avoid leaving behind any logistical headaches simply by having the right final insurance now.
Cemetery & graveside services are covered by final insurance
The average cost of cemetery and graveside services is about $900.
Cemetery plots and grave site services can be purchased at the last minute, but they’re much more economical when you plan far ahead.
A good final expense insurance policy will provide for cemetery and graveside services of your choosing, or you may delegate those choices to someone else.
It’s better to prepare well today, so your family won’t face financial hardship in the future.
Monument or marker, with burial insurance you’re covered
Marking a resting place can be either simple or elaborate, whatever you wish.
It’s best to choose a tombstone that matches your tastes and budget.
Simple markers range in price from an average of about $1,000 upward to $10,000 or more for distinctive monuments or tombs.
The right final insurance policy gives you and your family the means to budget for a top-quality memorial that will last nearly forever.
Casket or cremation urn, your choice under a final expense life insurance policy
A good last impression is just as important as a good first impression. You’ll need a suitable casket or cremation urn.
A casket is the single most costly item needed to fulfill a traditional funeral.
They may be made of wood, metal, fiberglass, plastic or fiberboard.
Caskets are available in a wide range of styles and prices, and they’re very important for visual purposes.
Nationwide, the average cost of a well-built casket is about $3,500.
For people who seek longevity in preservation, the best bronze and copper caskets may cost $10,000 or more. Still, they’re worth it.
In order to surround and support the walls of a casket once in the ground, most cemeteries require a concrete burial vault or liner, which costs an average of around $2,300 nationwide.
Or, instead of a large casket you could choose cremation, and opt for a durable, high-quality cremation urn costing around $2,500 on average.
Regardless of your lifestyle or current budget, final expense insurance offers a solution to ensure your family’s future security.
To calculate how much coverage you’ll need, just consider your preferences in each of the categories listed above, then add those amounts together.
Plus, if there are any family members with cash needs such as for travel, lodging and out of pocket expenses, you should add them into the overall budget.
To have all your questions answered and receive quotes from leading insurance companies, just contact us!