How to efficiently cover the funeral and burial costs?

Funerals are much more expensive than some people imagine. Covering your last expenses is very important as you’ll spare your loved ones of a financial burden. On average, a funeral and burial costs about 10,000$. What needs to be covered?

First, there are several formalities and taxes which need to be paid, when someone has deceased. Other arrangements like: the holding of the body, and choosing a burying place. Depending on how you want your final remains to be disposed, a funeral can be under 1000$ or over 10,000$. Cremation is the cheapest way, while a proper funeral and burying will cost you a lot more. Your family will have to pay for a casket, the plot of land, tombstone, floral arrangements and other services. Everything has a price, even the costume in which you’ll be buried. All these expenses can easily amount to 10,000$.

burial-insuranceFortunately, there are ways of covering these costs! The simplest method is by buying a life insurance policy. In exchange for regular premiums, the insurer will offer a death benefit which will be paid after you die to your beneficiaries. The death benefit can be used in any way by your family: paying for your funeral, paying of the mortgage, providing a college education for the children or covering day to day expenses.

Life insurance is not expensive. You can get 100,000$ coverage for 10$ a month. There is a special type of life annuity that covers precisely the funeral costs. This is known as final expense life insurance! If you are retired and want to cover your funeral costs, try searching for some final expense life insurance quotes and compare different offers!

Having life coverage is not the only way of paying for your funeral. You can use a funeral trust to pay ahead for your funeral. This gives you the advantage of personally making the necessary arrangements. You can choose the location where you want to be buried, the casket and arrange other details.

You can pay your funeral costs by using a part of your retirement fund. Make sure you put the money in an account and entrust it to someone from your family. Your will can offer instructions about the way in which you want to be buried and the location. Although you can’t legally force your family to respect your wishes, they will at least feel morally obligated to do so!

If you want to cover your funeral costs, have a look at some final expense life insurance quotes which can be found on our website! Click here!