Finding a Low Cost Burial Insurance Policy
According to research conducted by funeral industry services company, Parting.com, the average cost of a funeral in the United States ranges from $7,000 to $10,000. While there’s certainly room for flexibility when planning a loved one’s funeral, even the most cost-conscious consumer will probably find themselves looking at a bill of several thousands of dollars when they plan a funeral for a loved one.
Your family has enough to worry about when you’re gone, don’t leave them with the burden of funeral expenses too. Avoid that by securing low cost burial insurance and give the freedom to say their farewells without stress.
What is Burial Insurance?
Many people are familiar with the concept of life insurance–a policy designed to help beneficiaries meet funeral and burial expenses and replace lost income after the deceased’s passing. But life insurance isn’t a good fit for every family. Between the medical requirements for qualifying and the cost, life insurance can be hard to get and expensive to keep.
Burial insurance is a low-cost policy designed to exclusively cover the expenses of burial, cremation, and funerals. These policies not only cover the costs of final expenses, but they also can be designed to offer a benefit for a specified term or for life.
In some cases, these policies are considered “preneed” and purchased directly from a funeral home. Depending on the policy you choose, the cost may also preserve the current-day pricing of all the burial supplies such as the plot, casket, urn, and grave marker.
Securing Low Cost Burial Insurance
Because a burial insurance policy has a low death benefit, they cost much less than a typical life insurance policy. And because some of them preserve the cost of burial supplies and services, they can save your family a lot of money after you’re gone–all without making them sacrifice in the style of their goodbye.
Still, it’s important to find a burial insurance policy you can afford and one that is priced competitively. One way you can do that is to compare all the low cost burial insurance policies and plans offered by your local funeral homes. This is a great place to start as it not only allows you to compare prices but also to get an idea of the products and services offered by local funeral planners. In some cases, you may even select one, not for their price–but because you like the planning options you can secure with them.
After you’ve done some local research, you may then want to compare policy costs and features online. Many third-party companies offer policies that can be paid out to your local funeral homes and planners, even if you bought the policy from a company online. And remember, the younger you are, the cheaper your policy is going to be, which is why you shouldn’t delay your search. You will never again be as young as you are today, so why not start looking and lock that lower price in for yourself and those you love.
