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Funerals are expensive. An ordinary person spends a lot, but some are saving their family thousands with a unique policy from BurialInsurancePlans.Org. Here are some of the surprising details from our 2021 analysis.
The average funeral costs are approximately $8,000 to $12,000. This price does not include the additional cost of purchasing flowers, catering, and handling estate administration costs.
Prepaid Funeral plan with a Funeral Home.
These increased costs are unregulated; the funeral industry has taken advantage of this fact for a long time. Hosing prices in the US have gone up a lot in the past seven years, but burial plan costs have climbed about twice as fast as housing prices and three times faster than inflation. Experts in the funeral and burial industry have predicted prices will continue to increase. If your family cannot afford a funeral, loved ones are forced to take out a loan to cover the costs, which adds even more stress to the grieving process. Thus, Staying informed about the options available is very important.
One possibility everyone knows about is to set up a prepaid funeral plan with a funeral home. However, several difficulties come with doing this: funeral homes sometimes mismanage their investments, and as a result, what you bought may not be possible at the time of the funeral. In addition, your plan may no longer be valid if you move out of state. Besides, prepaid funeral plans don’t have the regulation to the extent that burial insurance plans do.
Low Cost Burial Insurance Plans for that Increased Costs.
A better plan is to look at a low-cost burial insurance plan ahead of time. This will ensure your family will have a program available and a price locked in at that reduced rate ahead of time. Even if you still have a life insurance plan, you’ll still want burial insurance to cover the increased costs of those final expenses. Most people will underestimate the amount of life insurance you will need. Term life insurance will usually expire before you ever need it, and burial insurance plans also don’t have the exact health requirements. Burial Insurance Plans are a type of whole life insurance. Large insurance companies guarantee the coverage amount, and the government enforces the guarantees of the insurance companies. There is no medical exam required with a burial insurance plan, and most pre-existing conditions are allowed. But the most critical detail is that the coverage doesn’t expire.
Burial Insurance is cheap because it’s easy to set up and straightforward, with no complicated paperwork. You can lock in a price that works for your family. You can find a plan that fits your budget; it can cover anywhere from $5,000 to $50,000, depending on the Burial Insurance Plan you pick. Like most insurance, a Burial Insurance Plan also comes with a risk-free 30-day money-back guarantee.
No more Shopping for the Best Plan
The first step is to fill out your information and get a quote today. See all the available plans in your area—no more shopping for the best plan. You can see each program and the price when you receive your free quote.
There are dozens of great burial insurance providers, but which company will provide you with the best rate?