There are a lot of concerns airing around death and the unknown, but some of that can be tamed. When you consider life insurance or burial insurance for seniors, you can seriously benefit the lives of your family and help them out once you pass.
We understand that you may not like talking about or even thinking about funeral insurance, burial insurance, or planning your funeral. However, having a plan in place for when you pass can give you peace of mind knowing that your family know exactly what you want and most importantly, they won’t fall into debt paying for your funeral.
Funerals can be expensive and draining in every aspect, but to understand the costs associated can bring you peace and help you understand why paying for your funeral can help out your family. Funerals can cost anywhere from $4 000 upwards, so it’s always good to understand what costs are associated with your funeral.
Here are some of the costs associated with your funeral:
- Death Certificate
- Funeral Director Fees
- Burial or Cremation
- Cemetery Plot
Clearly, there are plenty of costs that need to be covered and they aren’t cheap. By pre-planning and covering the costs of your own funeral, you are saving your family from a whole lot of suffering and debt.
Pre-paid Funeral Plans
Although talking about your funeral is never something you want to do, you can find peace in pre-paid funeral plans and they can do you a whole lot of good. Pre-paid funerals allow you to pre-plan and pre-pay your funeral through your chosen funeral director. Pre-paid funerals can be far easier, cheaper, and better than funeral insurance and funeral bonds.
The costs are quoted then and there and will not change over time with the fluctuating funeral costs. What you are quoted and what you pay for stays the same throughout your life and death. Different funeral directors will offer different packages, so it is a good idea to shop around before committing.
It is also a great idea to get a breakdown of the costs so you know exactly what you’re paying and so things cannot be added without your knowledge. Another great thing to check for is whether or not you can transfer your plan to a different funeral director should you move.
Perhaps the simplest, easiest, and most obvious way to keep your family out of debt when you die is to save your money. You can set up a savings account that differs from your everyday spending and deposit money into it frequently. It doesn’t have to be a lot, but over time, a small amount can accrue into a large savings account.
The important thing to remember is that someone needs to know about your savings account so that when the time comes, they can withdraw the money.