Why your clients need final expense and funeral plans
Final Expense and Funeral Plans go hand in hand. Funeral Plans are what tell your family you want when you pass and how you want things to be handled. Final Expense is financial coverage and the funding for that funeral plan. The funeral plan acts as a guide for a family, so they do not have to plan your funeral while grieving over your immediate loss. When you begin talking about life insurance coverage, whether final expense or some other type of life insurance. It is important for your client to know about funeral plans and the costs associated with traditional funerals. The cost of a funeral service could be much more expensive if the service is held outside of the funeral home and at a secondary location.
Funeral Plans
Funeral plans are made with funeral directors and are a great way to get an idea of the overall cost of the funeral, it can give your insurance agent an idea of how much coverage you and your family might need. There are a lot of fo things that go into planning a funeral, that’s why it is always a good idea to do it earlier in your life. That way you don’t le
ave your significant other with the burden of planning your funeral right after you pass.
How much do traditional funerals cost?
Funerals can be quite costly as well. In fact, most of them are. That’s why financial planning and having some type of life insurance product is so important. A traditional funereal can run from $7,000-$12,000. Cremation could cost anywhere from $5,000-$9,000. However, most Americans live paycheck to paycheck and may not be able to afford the funeral their loved one deserves.
Why do funerals cost so much?
Funerals are so expensive because there are a lot of moving parts to a funeral. Here are some of the things to include in a funeral. Here are some examples of funeral costs, please keep in mind that these are just median costs and the actual costs could be much higher.
| Funeral home’s basic service fee (nondeclinable) | $2,100 |
| Transporting remains to funeral home | $325 |
| Embalming | $725 |
| Preparing the body in other ways, such as makeup and hairstyling | $250 |
| Facilities and staff to manage a viewing | $425 |
| Facilities and staff to manage a funeral ceremony | $500 |
| Hearse | $325 |
| Service Car | $150 |
| Basic memorial printed package | $160 |
| Metal casket | $2,400 |
| The median cost of a funeral with viewing and burial | $7,360 |
| Vault | $1,395 |
| Cost with Vault | $8,755 |
These expenses are expensive, and because of that, you should plan accordingly. That is why you need a final expense or some other type of life insurance planning. An agent can help you plan accordingly and get the resources you need.
Get with one of our life and financial experts today! They can help you choose a policy. Additionally, they can conduct a policy review to ensure that your current policy is still right for you!
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