In deciding how much final expense or burial insurance you need it is important to know the answer to “how much does a funeral cost?” All too often people do not plan accordingly and the result is that friends and family are left to pay the bill. Therefore, we decided to answer the question, “How much does a funeral cost” so you can make sure you have enough coverage in place.
How much does a funeral cost?
How much final expense or burial insurance you need to pay for your funeral will vary but knowing how much a funeral costs now and in the future will help you decide how much insurance you need. The price of a funeral will vary from state to state. This article will provide ballpark numbers on what you can expect a funeral to run so you can know how much final expense insurance you will need to cover your debts and your funeral.
How much a funeral costs
According to the National Funeral Directors Association, the average cost of a funeral in the United States is around $8,500 as of 2012. That number goes up around 10% every three years. Therefore, the average cost of a funeral by the year 2017 should be closer to $9,000.
Now if you are planning for a funeral in another 20 years or so then you will need to keep inflation in mind when planning for how much coverage you need to pay for burial expenses. At about a 3% increase every year, a funeral in the year 2035 will probably cost in excess of $15,000. That might be a more realistic number to use if you are attempting to buy burial insurance for seniors for that inevitable day.
And the median cost of a funeral with cremation is not much less. The service fee alone runs around $2,000.
Sample Life Insurance quotes for a 50 year old male
$15,000 Level benefit whole life insurance $42/mo $15,000 Graded death benefit whole life insurance $62/mo $15,000 Guaranteed issue death benefit whole life insurance $57/mo
Sample Life Insurance quotes for a 50 year old female
$15,000 Level benefit whole life insurance $33/mo $15,000 Graded death benefit whole life insurance $52/mo $15,000 Guaranteed issue death benefit whole life insurance $41/mo
How to find the best burial insurance
The key to finding the best burial insurance or final expense insurance is to choose an agency that can shop from the best final expense burial insurance companies.
JustBuryMe focuses exclusively on final expense and burial insurance—period. That means we are experts in finding our clients the best company at the best price based on the client’s specific health or lifestyle profile.
JustBuryMe is an insurance agency that focuses entirely on burial and final expense insurance, period! Our primary goal is to help you secure the coverage necessary so that you can get on with your life with the peace of mind knowing your family will not be left with unnecessary financial hardship due to your advanced planning. Give us a call today to find out the great burial or final expense plans your qualify for. We are here to serve!