Funerals are expensive—the cost of the average service and burial or cremation is between $6,000 and $8,000.
What can you do if you or your loved ones can’t afford this cost? Fortunately, there are a few different courses of action that do not just rely on the charity of others.
Cut Funeral Costs
Don’t be so sure that you can’t pay for a funeral—there are a few ways you can lower the cost to afford it.
Depending on the deceased’s desires and their loved ones, you may consider skipping a large service altogether. It may not be ideal, but it is a sure way to give them a respectful burial that you can pay for. Just ask the funeral home for their direct cremation or burial options.
Or, if you want a full service, you may consider opting for cremation over a burial. Generally, a cremation service is between 2 and $3,000 cheaper than a service with a burial.
Ask for Help Locally
Most funerals are handled at a county or state level. Or, at the very least, they must be approved and run through these respective offices. The county administrator or coroner may be able to provide you with or direct you to some assistance.
On a local level, there may be many faith-based organizations and churches that are willing to assist.
Ask for Help From the Funeral Home
The funeral home itself may also be willing to provide assistance or cost reductions to help fit your budget. Or, check out their various packages—almost every funeral home offers combinations of service customizations at a lower cost.
You may be surprised by the generosity of strangers. Online crowdfunding platforms such as Kickstarter and GoFundMe allow individuals to set up a charity for any cause—if your campaign garners enough donations, it could give a well-deserved financial boost.
If You’re Early Enough, Take A Life Insurance Policy
Paying for a funeral out-of-pocket is virtually impossible—the average person does not have thousands of dollars lying around. If you anticipate needing help paying for a funeral, you may consider starting a life insurance policy.
Burial insurance can have payouts ranging anywhere from $5,000 to $50,000, potentially providing extra funds to cover other final expenses as well.
Take Out a Loan
Of course, one of the most simple ways to cover funeral costs is to take out a loan. Most banks offer funeral loans and can provide you with great rates if you have good credit.
Get the Funeral Coverage You Need at a Price You Can Afford
The life of you or your loved one deserves a memorial burial and service. When it comes to handling the finances involved, we are here to help. A burial insurance policy is a fantastic, cost-effective way to not only pay for a funeral but to cover most of your final expenses as well.
Our licensed agents are sensitive to your circumstances and will do whatever it takes to get you the coverage you need. For a free quote, call Senior Life Services at (800) 548-3249.