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Death is unavoidable. It’s a grim thought, but we all have to face it. It’s important that you plan for the unfortunate time. Not having a plan for your passing could leave you family with more stress and problems that could have been avoided. If you want to make the difficult time as easy as possible, it’s important that you take care of all the different factors.
There are dozens of various expenses and related expenses that go into a funeral. One of the biggest costs is the casket. Just like a car, caskets range in quality, type, material, and price. They can cost anywhere from $500 to tens of thousands of dollars. Typically, your casket is going to be the largest part of your funeral budget.
If you want the basic casket, you can spend a couple of hundred dollars and get a casket that will meet your needs (which aren’t much), but if you want something more lavish, you could easily spend several thousands of dollars. The most important part is that you sit down and discuss with your loved ones what your burial wishes are. Otherwise they are left to make those difficult decisions.
Before you pick your casket, you should explore all of the available options that you have. There are a lot of people that decide that they want to save their family as much money as possible when they pass away, which means that you should plan for your funeral ahead of time. IF you don’t plan for a funeral, more than likely your loved ones are not going to go as cheap as possible. Emotions will typically cause family members to spend more money than they normally would.
If you decide that purchasing a casket is too expensive, there are several other options that you can choose from to save money. The obvious solution is to go with a cremation instead. Because of the merchandise and work required, cremation could save you thousands of dollars. As you can imagine, if your loved ones were forced to decide between burial or cremation, it could cause weeks and weeks of stress and regret from making the choice.
Burial Insurance And Caskets
One of the best ways to give your family the funeral protection they need from being left with a massive amount of debt is to purchase a burial insurance plan. These plans are a life insurance plan but provides much smaller coverage. For example, a traditional life insurance plan is going to give hundreds of thousands of dollars if you were to pass away, which is a great thing, but what if you only need to give your loved ones the money to pay for your funeral? That’s where these burial insurance plans come in.
These plans typically only go up to around $25,000 of life insurance, but some companies will go higher than that limit. These plans are an excellent option for people that don’t want to leave their loved ones with additional financial stress.
The average funeral costs around $10,000, but they can easily rack up around $20,000 in expenses, depending on your preferences or where you live. All of those bills can be tough for your grieving family to cover.
Is A Burial Plan For You?
It’s important that you give your loved ones the perfect insurance plan to meet their needs. There are several different factors that you should consider when deciding what kind of plan to buy.
The first factor that you should consider is your debts and final expenses. If you don’t have much debt, and the only expense that your family would be responsible for is the burial expenses or some small credit cards, then these could be the best option. This will give them the money that they need, without having to pay expensive monthly premiums.
The next factor that you need to consider is your paycheck. The secondary goal of a traditional life insurance policy is to replace your salary if something tragic were to happen to you. If you don’t have anyone that relies on your salary, then you can consider getting one of these smaller burial insurance plans.
Another group of people that can benefit from a burial insurance policy is anyone that’s in poor health or has several pre-existing health conditions. Thousands and thousands of applicants will be declined if they apply for a traditional life insurance plan that requires a medical exam, but with a burial insurance plan, you don’t have to worry about that. There is no medical exam required, and no health questions ask. Anyone can purchase one of these plans, regardless of your health.
Getting The Best Burial Insurance Policy
Planning for your death is one of the most important things that you can do. Nobody wants to think about his or her own death, but it’s selfish not to plan for it. It’s vital that you give your family the money that they will need, otherwise you could leave them with both emotional and financial stress.
If you have any questions about burial insurance plans or about how much coverage you’ll need, 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.
You never know what’s going to happen tomorrow, which means that you shouldn’t wait any longer to get the insurance protection that your family deserves. Contact one of our agents, and we can get the process started.