What are Funeral Plans and why are they important?
Funeral plans are essentially your final wishes. It helps guide your family and shows them what you want your funeral to look like. Usually, these plans accompany a final expense or some other type of life insurance.
Funeral Plans
Funeral plans are detailed arrangements that outline your final wishes, guiding your family through the process and helping them understand what you want your funeral to look like. These plans are often paired with final expense insurance or another type of life insurance to ensure covered costs without burdening your loved ones. Planning a funeral with a funeral director is an effective way to understand the overall cost and determine how much coverage you and your family might need. Taking these steps early in life can relieve your significant other from the burden of making difficult decisions during a stressful time.
How much do traditional funerals cost?
Funerals can be quite costly as well, and most of them are. That’s why financial planning and having some life insurance policy to supplement is so important. A traditional funereal can run from $8,000-$13,000. Cremation could cost anywhere from $6,000-$10,000. Since many Americans live paycheck to paycheck, finding money in their monthly budget for such a large expense can be difficult.
Why do funerals cost so much?
Funeral expenses are high due to the numerous components involved. Here are some examples of funeral costs. Please remember that these are just median costs, and the actual costs could be much higher.
| Funeral home’s basic service fee (cannot decline) | $2,150 |
| Transporting remains to funeral home | $350 |
| Embalming | $750 |
| Preparing the body in other ways, such as makeup and hairstyling | $2,275 |
| Facilities and staff to manage a viewing | $450 |
| Facilities and staff to manage a funeral ceremony | $525 |
| Hearse | $350 |
| Service Car | $175 |
| Basic memorial printed package | $175 |
| Metal casket | $2,500 |
| The median cost of a funeral with viewing and burial | $9,700 |
| Vault | $1,395 |
| Cost with Vault | $11,095 |
These figures underscore the importance of having a comprehensive funeral plan in place. Planning with a final expense insurance policy guarantees your loved ones will not be burdened by these costs.
Life Insurance Questions?
We hope that this information on funeral plans is useful to you.
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This article was revised on 5/21/2024.