It’s vital that you plan for the inevitable. Not planning for your death is one of the worst things that you can do for your loved ones. It could leave your family with a pile of debt and some difficult decisions to make. When you’re planning for your passing, there are dozens of different factors that you’ll need to account for.
While many Americans don’t realize it, but funerals can be very expensive affairs. Not only are they emotionally difficult, but they are finally difficult as well. In fact, the average funeral costs around $10,000, but they can easily reach much higher than that. If you don’t have the proper insurance plans, your family are going to be responsible for all of these bills out of pocket. It’s important that you calculate your needs and get a plan that will help cover those costs.
Aside from the burial plot itself, the headstone is going to be one of the largest portions of your total bill. Several different factors go into calculating headstone costs, and just like anything else, you’ll have to decide which kind of headstone meets your preferences.
The biggest factor that is going to impact the price is how large of a headstone that you want. As you know, they come in just about any size. The larger the stone is, the more expensive that it’s going to be. If you’re looking to save money, get a smaller headstone, it’s as simple as that.
The type of material that the headstone is made out of can also play a role in how expensive that it’s going to be. The two most common types of headstones that people choose are either granite or bronze. Both types are durable and affordable. You can get granite in a variety of different colors, and each color is going to be more or less expensive depending on the stone itself.
The average cost of a gravestone can be anywhere from $1,000 to $2,000, but it’s not uncommon to see headstones reach $3,000 or more. At the other end of the spectrum, you can find a small flat headstone for around $500.
It’s easy to see that with just the headstone alone, your final burial plan could cost several thousands of dollars. Once you pass away, all of these bills are going to your family members. If you want to give them the protection that they need, you need to consider purchasing a burial insurance policy.
Burial Insurance Plans
Most applicants automatically assume that they need a full-blown life insurance policy for their family, but that isn’t always true. Most seniors can consider getting a burial insurance policy instead. These plans are identical to a life insurance plan, except they provide a much smaller amount of coverage, which means much lower insurance premiums.
It’s vital that you give your family the protection that they need, and there are several factors that you need to consider when you’re deciding between a burial insurance plan or a life insurance policy. It can be a confusing process, but we are here to help.
The first factor that you should consider is your age and your health. These are the two main aspects that the insurance company is going to look at when you apply for a life insurance plan. If the insurance company decides that you’re too great of a risk to insure, they are going to decline your application, but with a burial insurance plan, you won’t have to worry about that. There are no medical exams required, which means that regardless of your health you can get a burial insurance plan. This also means that you’ll be able to get insurance coverage much quicker than a plan that requires a medical exam.
The next factor to consider is your debt and if a burial insurance plan is going to be large enough to meet your needs. The primary goal of a life insurance policy is to give your loved ones the money that they need to pay off your debts and final expenses, like your mortgage and car loans. If you don’t have a lot of debt, then you should consider getting one of these burial plans.
The next factor to look at is your paycheck. The secondary goal of a life insurance plan is to replace your income if you were to pass away. If you don’t have anyone that needs your paycheck every month, you can purchase a burial insurance plan instead.
Headstones and Burial Insurance
Regardless of which type of insurance policy that you choose, it’s dire that you give you family members the insurance protection that they need. Not having a plan could leave them with a mountain of debt, which can make an already stressful situation a thousand times worse.
You never know what’s going to happen tomorrow, which means that you shouldn’t wait any longer to get an insurance policy in place for your family. Our agents can help connect you with the perfect insurance policy to meet your needs. We are a group of independent agents, which means that we don’t work with on single company. Instead, we represent dozens of highly rated companies across the country, and we can bring all of the best rates directly to you.
If you have any questions about burial insurance or the other options available, please contact one of our agents today. We would be happy to answer those questions and ensure that you’re getting the best plan to meet your needs. It’s our mission to make sure that your loved ones aren’t left with additional stress after your passing.