Basically, this a contract between the policyholder and insurer where the latter promises to take care of all funeral-related expenses whenever the insured passes away. It allows the loved ones to grieve in peace and saves the loved ones from an additional financial burden of arranging the funeral. Under these plans, you will need to pay a fixed premium every month as long as you live, and they will pay all your burial expenses.
Everyone has to depart one day, and no one wishes to see their loved ones in a trouble after their departure. I believe, you too wish neither to suffer from funeral arrangements after the demise of a loved one nor to see your loved ones suffer. Mostly, the family members rush to the nearest funeral home after a member of the family expires and the funeral homes charge a hefty amount for the same. They manipulate the family members to buy the most expensive casket, headstone, grave markers, cremation jewelry, cremation urns, graveyard and more. Also, they charge a hefty amount for the transportation and embalming services and the family members have nothing to do except agreeing with them. To avoid such uncomfortable consequences, you are supposed to plan in advance and buy a suitable final expense life insurance for seniors.
Before buying an insurance plan, you need to decide an amount you would look a cover for. This coverage amount greatly depends on how you want to be remembered. Whether you want to be cremated or would prefer a traditional burial. Whether you want your ashes to be scattered in a specific lake or wish a wake ceremony to be arranged after the funeral. These are some preferences you would have to decide about before you go ahead. Your funeral-related preference will help you calculate an amount sufficient for the funeral ceremony. You can talk to an insurance representative about an estimate coverage amount for your funeral plan. If you have another preference regarding the funeral, you can let your insurance provider know about the same and they will suggest you a suitable cover for the same.
These plans are offered at various prices from different final expense insurance companies. Today, there are numerous companies in the marketing selling a number of insurance plans with different benefits and coverage options. On average, a funeral ceremony costs from $7,000 to $11,000 but when you buy an insurance plan, you can get this service at a cheaper price. Moreover, you don’t need to pay the whole amount at once, but in cheap monthly premiums. You can get a casket for a few hundred dollars; the embalming may cost from $500 to $700 and for transportation, you may have to spend a few hundred dollars more. For the cemetery service, you will have to bear various charges such as internment costs, opening and closing service, headstone installation as well as burial vaults. However, if you prefer a cremation, all these costs can be covered by $2,000 to $4,000.
The procedure of getting an insurance plan is much easier than you may think. You just need to fill an online form and can start getting final expense insurance quotes from multiple providers. You can get in touch with representatives from various insurance providers and ask your insurance related queries. They will patiently listen to your insurance requirements and suggest the plans that suit the most. Depending on the benefits and coverage offered, you can choose an insurance plan offered at the best price.