Average Cost of a Funeral
Add Your Heading Text HerePlanning for a funeral is never an easy thing to do, but having a general understanding of what it will cost can ease some of the financial burdens on you and your loved ones.
Preparing For Costs
The average cost of a funeral in the U.S. can range between $7,000 and $10,000, but it can exceed this amount depending on the services provided. To have a better understanding of why these costs can increase so quickly, here is a breakdown of each service:
- Funeral Home – Between $2,000 and $2,500
- Cremation – Between $1,000 and $8,000; the actual cost for this will depend on the state you live in and the services chosen
- Burial – Upwards of $8,000 or more
- Embalming – Between $500 and $700
- Flowers – Between $500 and $700
- Wreaths – Between $100 and $200, but can be more, depending on the size
- Burial Plot – Between $300 and $5,000; this will depend on location and if the cemetery is public or private
- Headstone/Grave Marker – Between $1,000 and $5,000
- Casket – Can be as low as $2,000 but as high as $10,000 or more
How To Save For These Costs
Now that you have a better understanding of what the average cost of a funeral can be, it’s important that you have the arrangements in place for the rest of your family so they don’t have to worry about paying for these costs out-of-pocket.
While you can save money on your own, a great way to make sure your loved ones will get a set amount to cover these expenses and possibly more is to get a life insurance policy. Life insurance will provide your beneficiaries with a coverage amount, also known as the death benefit, after your passing.
The types of life insurance policies you may want to consider are term life, whole life, and final expense. A term life policy only lasts for a set number of years, though, and if you do not pass within this timeframe, your policy will expire and your beneficiaries will not get the death benefit.
A whole life policy is a more permanent policy as it lasts for your entire lifetime, but it’s also more expensive than a term life policy. A final expense policy is basically a smaller form of a whole life policy with a death benefit of up to $50,000. You can qualify for this policy if you do not qualify for other traditional life insurance policies.
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At American Insurance Group, we understand the importance of having the proper coverage. That’s why we’re here to help you find that coverage. If you want to learn more about funeral planning, give us a call today!
