How to Plan a Funeral Service with Burial Insurance in Mind?

What burial insurance policy you have plays an integral role in planning your funeral service. You will need a large policy if you want to plan something sophisticated and expensive for the funeral service like customized headstones etc.

Knowing exactly what your burial insurance policy covers will help you to plan the funeral service accordingly.

What Does a Burial Insurance Policy Usually Cover?

Burial insurance, which people also refer to as final expense insurance or funeral insurance, is a life insurance type that assists in covering the expenses of a person’s final arrangements, like the urn or casket, memorial service, cremation, or burial. 

If any cash is leftover from the burial insurance policy after these services, the deceased’s beneficiary can use it. These can include outstanding medical bills, loans, and legal bills.

How Much of it Do You Require?

A funeral’s cost can vary considerably, contingent on what sort of ultimate goodbye you have in mind. If you would like a conventional funeral, with service, visitation, and burial in a graveyard, you can expect all expenses to set you back by approximately $7,000 to $10,000. On the other hand, if you are leaning towards cremation instead of burial, you will not have to pay as much, with the average amount ranging between $2,000 and $5,000. 

Bear in mind that if you choose cremation rather than burial, your burial policy will still be covering all expenses even though there is no burial involved.

Suppose you are worried about taking a sizable burial insurance premium (monthly). In that case, you may go for the less costly alternative of cremation to buy an insurance policy with a reduced coverage level. However, if you are more inclined towards burial and a conventional funeral, you should prepare yourself to pay for a bigger burial insurance policy. This will also help you to cover your funeral service planning without any financial difficulty.

Compared to life insurance policies, burial insurance policies generally have a reduced coverage level. Burial insurance policies may have a cap at 30,000 dollars to 50,000 dollars, while a life insurance policy can be capped at 60,000 dollars. 

Unless you have an extremely unusual situation, the lower level of coverage should still be adequate to cover your funeral expenses and plan your full funeral service. Your survivors can use whatever cash is left after all funeral costs are accounted for to pay for your medical bills or any other costs that you incurred before you passed away.

Feel free to get in touch with us if you seek a burial insurance policy. Just tell us what kind of funeral service you have in mind, and we will tell you which policy will be ideal for your requirements.