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The median cost of an adult burial with viewing and burial was $8.755 (including vault). Families could spend thousands of money on funeral and cremation fees, often within days of their loved-one's death. Costs for caskets alone can exceed $2,000, depending on what material is used. The funeral home may charge families $300-$1000 for the simple task of opening and closing the grave. These costs are covered with final expense insurance. Sometimes referred to as burial or funeral insurance.
The increasing costs of funerals has been well documented throughout the years.


Many families assume that their loved one's estate will pay for the funeral, or that it won't cost too much. Most families don't realize that the average funeral costs can exceed $9,000 and more. These costs can be reduced and families will not feel overwhelmed if they have final expense insurance.
The median adult funeral cost with viewing and burial was $8.755 in 2017, including a vault. Families can spend thousands on funeral and cremation costs, sometimes within days of the death of their loved ones. Depending on the type and material of the casket, prices can run up to $2,000 per head. Families can spend anywhere from $300 to $1,000 just for opening and closing a grave, depending on which funeral home they choose. These costs are covered by final expense insurance, also known as funeral insurance or burial insurance.
Over the years, it has been well documented that funeral costs are on the rise.

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However, this insurance isn’t just for seniors. You can also learn more about affordable insurance for over 50, seniors life insurance, seniors life insurance and seniors life insurance. You can take out life insurance to protect your family members from being unprepared if you pass. It is possible to purchase life insurance for children. Multiple quotes, including one that includes a final expense quote, will help you to determine the best type of insurance for you.

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Death of a loved ones is the hardest thing that we have to deal with. In addition to this, the funeral costs and medical expenses of the deceased are often left to their surviving family members. These expenses can compound the feeling of grief and stress felt by family members and friends. This is why final expense insurance was created.
Final expense insurance is intended to pay funeral costs. But the death benefit may also be used to pay medical bills, mortgage payments or credit card debt. It is up to the beneficiary of the insurance policy how the death benefit is spent.

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Traditional life insurance can be used to provide enough funds for your loved ones after your death. It is typically proportionate to any income that your family would lose due to your passing. Term insurance, which can be worth millions of dollars, is the most popular type of income replacement.
Different policies offer final expense life insurance. A final expense policy is rarely more than $20,000, as it only covers one debt: funeral or cremation arrangements. (learn more: How does cremation work). ).

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The average funeral cost, without a vault, was just over $700 in 1960.
In 1985, it was $2,737.

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It is cheaper than most other insurance policies. The coverage amount is often lower than traditional policies because it covers funeral costs. The average person insures themselves for $10,000 to $20,000 which means that the premiums for final expense policies are less expensive than larger policies.

top final expense insurance companies

Frequently Asked Questions

Most families will use cash, check or credit card to pay for all or part of the funeral expenses. Most funeral homes today expect payment in full up-front. Sometimes you can pay a portion using an installment plan negotiated with the funeral home.

A final expense policy can offer peace of mind and ease the financial burden on your family while they're grieving. And since it usually doesn't require a medical exam, it's a good option if you have a pre-existing condition that prevents you from getting a traditional term or whole life policy.

Does Final Expense Have a Cash Value? Final expense insurance does allow for a cash value to build because it's a form of a whole life insurance policy. However, the savings must accrue, and there are some things to keep in mind when you want to borrow against the cash value.