February 21, 2018
Is Your Funeral Paid For In Advance
By planning in advance your loved ones are not further burdened by the financial aspects of your final expenses. Leave your loved onces a cash estate. Not pile of bills!
Burial Insurance for Seniors Overview:
According to the National Funeral Directors Association, the average cost for an adult funeral in 2014 was approximately $8500. Depending on the arrangements made, the price can go up to $10,000. Seniors who may not have an existing life insurance policy but want to settle death plans may consider purchasing funeral insurance for seniors.
In simple terms, this is a type of small life insurance policy with a death benefit. This insurance guarantees that a monetary amount will be released to the family or assigned beneficiary when the policy holder dies. The money may be used towards funeral fees, medical bills, debt and other expenses that may arise.
Proper planning is a must when buying any type of insurance and details of final expense insurance for seniors should also be addressed.
How Much is the Cost of Senior Burial Insurance?
The National Funeral Directors Association has confirmed that premiums vary depending on the inclusions you want, your age and your burial insurance provider. You can pay your premium weekly, monthly and even annually. In general, a top quality coverage only costs around $2-$5 per week and this already gives you at least an $6000 coverage.
It should be noted that when looking for this kind of insurance, it is important to check that the premiums do not increase after a certain period of time.
What are the Inclusions of a Standard Burial Coverage?
Generally the items covered by a standard burial insurance for elderly are the following:
- Casket or urn
- Grave marker or headstone
- Cost of Cremation
- Cost of embalming
- Funeral cars
- Digging and filling of the grave
- Cost of burial plot