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Life Insurance and Offset Funeral Expenses

Offset Your Funeral Costs

With funeral costs constantly on the rise, and cemetery rents increasing their expenditures in regards to death in the family, it’s very important to take a measured approach to funeral arrangements with consideration to certain factors including economics. Taking notes, doing research, finding out costs, and asking for a life insurance quote from different life insurance polices is the way to go.

Costs for the Average Adult Funeral

Funerals are incredibly expensive. For example, a non-refundable basic services fee will typically run you about $1,595, a metal casket usually costs about $2,255, vaults will run approximately $1,128. With other expenses, including preparation of the body, transportation, securing vehicles and memorial costs, you’re looking at a total of somewhere in the neighborhood of $7,000.0. And even after the costs of the headstone, burial, wake and obituary, the funeral costs can increase into the tens of thousands. With high prices even for the cheaper of funeral arrangements, getting a life insurance quote for a life insurance policy can really help to ease any financial burdens that may be place on loved ones.

Do the Necessary Research

Before you go ahead and sign up for a life insurance policy, you will want to do some research and get an insurance quote. It is, after all, important to have an estimated figure for expenses that you can expect from the cost of a funeral. Though it is possible to set up a memorial service that is affordable, there are many costs and unforeseen fees associated with the average death. The average suggested minimum is $10,000 allocation for death benefits regarding funeral services.Luckily, there is a wide range of advantages to purchasing a life insurance policy instead of traditional stock investments. The biggest advantage is that payouts from life insurance polices aren’t taxed, which is great because the beneficiaries of said policy are also free to use funds as they want without the hassle of paying taxes. Also, with a life insurance policy, friends and family won’t have to liquidate assets from a loss in order to cover expenses

Life Insurance Alternatives

Also, in case a comprehensive life insurance policy does not suit your needs and situation, you can always get an insurance quote from other alternatives. Should this happen, other insurance alternatives are readily available that will cover only the funeral costs. This will typically be the case with an insurance policy that has a lower premium. Even just the thought of a funeral, or a loved one’s funeral can be upsetting and uncomfortable. But by doing research, getting insurance quotes, and discussing important matters such as wishes regarding the funeral, a memorial service can be easier to afford and can help lift any potential burden off of family and friends. In the end, it is well worth it to check out a life insurance quote. Getting an insurance quote is the way to go if you’re looking for an affordable cost for funeral services.