Plan and Pay for Funeral Costs | Final Expense

How Much Can a Funeral Cost?

The average funeral costs more than $9,000 today. This can often be a big burden for family members. To prepare for this expense, and to not leave your family in a bind, consider a unique type of life insurance called final expense—aka funeral or burial insurance.

What Is Final Expense?

Final expense is a form of permanent life insurance that offers lower benefits than traditional plans. Unlike traditional life insurance, final expense plans only offer death benefits ranging between $5,000 to $25,000.

While it may not seem like much, this is more than enough to pay for the average funeral. Depending on what benefits you qualify for, your family may even have enough cash remaining to pay off end-of-life medical bills.

Cost of Final Expense

Final expense insurance could cost a little more than a term life insurance plan. However, people in good health can qualify for lower rates than those who are faced with medical conditions. To find out exactly how much you may pay for final expense insurance, contact us. We would be glad to provide quotes.

Typical Funeral Costs

Here are some expected funeral costs:

Metal Casket: $2,400
Basic Services Fee: $2,100
Vault: $1,395
Embalming: $725
Facilities/Staff for Ceremony: $500
Facilities/Staff for Viewing: $425
Hearse: $325
Removal or Transfer of Remains: $325
Miscellaneous Preparation: $250

What Is Final Expense Insurance Used For?

When you die, your final expense insurance will pay out a death benefit to your beneficiaries. The death benefit can be used to pay for anything, but most people use it for the following:

How your family uses the death benefit is up to them. Though, it helps to have a discussion about how the money should be spent with family members before you die.

How to Get Final Expense Coverage

You can go through an insurance company or work with an independent agency like us. First, you will answer some health-related questions to determine your eligibility. Then, if you qualify (most people do), your answers will dictate how much your premium rates are.

Once you sign the insurance contract, you will be obligated to pay these premiums to keep your coverage active. Therefore, it is important to choose a plan that fits into your budget and matches your long-term goals. We will help you through the process.

We Can Help You Plan Ahead

Funerals cost a lot of money, so don’t leave your family on the hook for the bill. Plan ahead by purchasing final expense insurance. Overton Agency can help you get started—just call 501-881-2050.

Funeral Costs