Nobody wants to think about his or her death, but not planning for the unavoidable is one of the worst decisions that you can make for your loved one. Losing a family member is never easy, but it’s even harder if they have to make all of the hard decisions and pay thousands of dollars out-of-pocket.
While many people may not know it, funerals are expensive. In fact, they are more expensive than most people assume. The average costs for a burial and all of the related costs is $10,000, but it can easily reach $15,000. That could be difficult for a grieving family to coverage if you were to die unexpectedly.
Several expenses go into “burial costs, ” and it’s important to understand everything that is accounted for and how much it’s going to cost. The Right of Interment is the purchase of the physical burial plot itself, which gives you the rights to be buried in that spot, but this isn’t the only thing that’s included in the funeral costs.
Included in the costs are also the fees for digging and closing the grave, which is the digging and the device to lower the costs. The costs will also pay for any grave liners that the graveyard requires. The burial costs will also have a perpetual care fee, which is essentially a maintenance fee that you will have to pay for you make the payment. This pays for the cemetery to maintain the site, but won’t pay for any gravestone or memorial maintenance.
The actually costs to be buried are going to vary greatly depending on where you’re being buried and the fees associated with that specific graveyard. A graveyard plot can cost anywhere from $2,000 to $3,000 and the fees for opening and closing the spot can cost an additional $1,000. Just with those two fees, you’ll already spend several thousand dollars, which can be difficult for your loved ones to pay for.
Burial Insurance Plans
It’s easy to see that losing a loved one can costs your family members a lot. They would not only be responsible for your debts, but they would also have to pay for your burial and all other related costs. It can make an already difficult situation a thousand times worse. One of the best ways to offset those bills is to purchase a burial insurance plan.
Burial insurance plans are small life insurance plans. A traditional life insurance plan can give coverage that ranges anywhere from $100,000 to several million dollars depending on the application. Burial insurance plans on the other hand, typically only go up to around $25,000.
Unlike a life insurance policy, you won’t be required to take a medical exam, and in most cases, the insurance company won’t ask you any medical questions before they approve your application. Additionally, because they are much smaller plans, the monthly premiums are going to be a lot lower as well.
Is A Burial Insurance Plan Right For You?
It’s important that you give your family members the insurance coverage that they need. There are several factors that you need to consider to ensure that they’ve got the best plan to meet their needs. Everyone’s situation is different, but there are some groups of people that can take advantage of these plans.
The first group of people is seniors that don’t have any debts or final expenses that they would leave behind. The primary goal of a traditional life insurance is to give your family the money that they would need to pay off your debts and unpaid expenses, but if you don’t have any, then you can consider purchasing a burial insurance plan instead.
Additionally, if you don’t have anyone that relies on your income every month, then a burial insurance plan is an excellent option. The secondary goal of a traditional life insurance plan is to replace your income and give your family the money they need, but if nobody relies on your salary, you can get a funeral insurance plan instead.
One of the biggest groups that should take advantage of these plans is anyone that is in poor health or has several pre-existing health conditions. With an average life insurance plan, the company is going to require a medical exam, and if you’re in poor health, they could decline your application. With a burial insurance plan, there is no medical exam required, which means anyone can purchase coverage, regardless of health.
Burial Insurance Plans
It’s vital that you give your family the insurance protection that they need. It’s never easy to lose a loved one, but having thousands of dollars of bills is going to make the situation finally painful as well. A burial insurance plan is a great way to give them insurance without paying expensive monthly premiums.
If you have any questions about burial insurance plan or how much coverage you need, please contact one of our agents today, and we would be happy to answer those questions. It’s our mission to ensure that you’re getting the best policy at an affordable rate. We have years of experience helping applicants plan for the worse.
You never know what’s going to happen tomorrow, which means that you shouldn’t wait any longer to get the insurance policy that your family deserves. Nobody wants to think about it, but not being prepared is only going to make the situation worse. Contact one of our agents, and we can get the process started.