Affordable "Peace of Mind" For You & Your Loved Ones

According to the National Funeral Directors Association, the average cost of a funeral in the United States ranges anywhere between $8,000 and $10,000.
 
This price generally only covers the basics like:

• Basic Services Fees

• Use of Funeral Home facilities & staff

• Transportation of the body

• Casket

• Embalming & Cosmetic Preparations of the body

• Burial Plot

• Opening & Closing of the Grave

• Limousine(s) / Hearse

The price can vary considerably of course, based on the choice of funeral home, cemetery, final expense products / services purchased, and the part of the country and/or location where the funeral is performed.

Also keep in mind that the average price-range listed above, may not include what could be considered extra’s like: burial clothing, burial vault / grave liner, funeral reception / repass, flowers and/or wreaths, obituaries, headstones / grave markers or the transfer of the body to a different region or part of the country.

The average cost of a direct cremation by itself, without an urn, traditional funeral service for the viewing of the body or a burial at a cemetery, is $1,100 according to the Cremation Research Counsel.

Of course, this cost will vary depending upon the crematory that’s used and the part of the country where the service takes place.

Burial insurance, also referred to as final expense insurance or funeral insurance, is a type of specialty whole life insurance policy with a small face amount or death benefit typically ranging from $5,000 to $25,000.

They offer simplified underwriting (usually just a few Yes/No questions) and generally require no medical exam. As a result, a qualified individual can usually get an approval within 20 minutes to 72 hours depending on the insurer.

Also, because these policies are specifically designed to pay for final expenses like funeral, burial,  and cremation costs; they tend to pay out on death claims quicker than your fully underwritten, large face amount, and group life insurance policies.

Burial insurance is generally used to pay for things like burial, cremation, funeral, and probate costs; as well as any leftover medical expenses.

However, the death benefit from these types of insurance plans – like with any life insurance policy – can be used for any purpose whatsoever, without restriction.

And, as a matter of fact they are often taken out for the sole purpose of leaving behind a financial gift to a loved one or charity, paying off debts or to provide spousal support.

There’s really no major difference between “traditional” or “standard” life insurance and burial insurance, other than the fact that burial insurance is a type of specialty life insurance policy that generally has a much lower minimum and maximum face amount (death benefit) than regular life insurance.

Burial insurance plans generally offer face amounts ranging from $3,000 to $25,000, whereas traditional life insurance policies usually have minimum face amounts that start at at least $25,000 with upper limits into the hundreds of thousands to millions of dollars.

Also, it’s important to note that most burial insurance policies are usually whole life insurance plans, while traditional life insurance can be term life, whole life, universal life or even some form of a hybrid plan.

how much is burial insurance?

In most cases the best life insurance for seniors would be a whole life insurance plan.

This is because unlike term life insurance which is temporary, and usually only covers an individual to a certain age (e.g. 85) or for 10, 20 or 30 years; whole life insurance plans offer permanent lifetime coverage.

Whole life insurance also, offers “locked in premiums” that never increase, a death benefit that never decreases, and guaranteed “cash value accumulation” that increases over the years.

This cash value is a sought of “equity” that can be used to receive cash when needed or simply to supplement one’s retirement.

So, if you happen to be looking for a burial insurance for yourself or for a senior, please be certain to make sure that is a whole life insurance plan; as there are a few popular plans on the market today, unbeknownst to the general public, that are actually term life insurance policies.