It is an extremely subject of conversation for any family to talk about when it comes to discussing burial insurance but it is something that every family should think about; especially when there are elder parents involved. It is never nice to talk about death in any given situation but ultimately, you need to be considering insurance and burial plans to have in place when that day does come.
When it comes to picking out the right plan for you and your parents, it is important that you are aware of all of the factors that come into play when you get life insurance for your parents that will benefit everyone. This post will cover where to find the best places when it comes to taking out burial insurance and the things you need to ensure you have coverage on when planning a funeral.
What is Burial Insurance?
Burial insurance is the insurance that you take out in order to not only pay for the funeral but the other additional costs that are attached to it. A good burial insurance policy will cover you on absolutely everything including the costs of headstones and coffins.
There are many providers of this particular insurance that you can find online and it is important that you are aware of everything you should be looking out for when finding the perfect policy. Ultimately it means that if you are looking for a policy for elderly parents, there will be less financial burden when the day comes.
As painful as it is to talk about, it is something that you should consider because of the sheer costs that are associated with a funeral. Especially for low income families, if the day was to come unexpectedly and you were unprepared for it, it could be a huge cost that you may not be able to cover.
A funeral plan means that families can begin paying for this over a period of time so that when the day comes, there is enough money there to hold the send off that you and your family would have wanted without the financial burden.
What Do I Need To Consider With My Burial Insurance Plan?
When you take into consideration all of the costs of a funeral, the money really starts to mount up and without burial insurance plans in place can be hugely expensive.
As you consider the right life insurance for your parents, I have outlined everything that you need to be looking out for when picking a policy and the costs that you should be making sure that you have covered as part of your policy.
- Headstone – Depending on the materials and the detail of the particular headstone, they can cost anything up to $5,000. Without the right coverage, you may not be able to cover this highly significant and important cost.
- Grave Markers & Memorials – Again, to leave a significant memorial on the place of burial this is also another cost that can be anywhere in a similar region of $1,000. Already you can see costs beginning to mount up.
- Casket – This depending on the type of burial is a cost you may or may not need to consider when it comes to preparing for a funeral. There are many factors that can determine the cost of the casket including the finish, quality of wood and personalised engravings. Depending on these factors, a well made quality coffin can cost anywhere between $1,000-$10,000.
- Body Preparation & Embalming – A good burial insurance policy will ensure you are covered on the preparation costs associatd with preparing the body prior to burial. This alone can cost up to $1,000.
Other costs including viewings, death certificates and the holding of the funeral itself can all in all be in excess of around $20,000. It is essential that you consider all of these costs and make sure that when you decide to take out a policy, you have security in all of these departments.
Choosing The Right Funeral Plan
This is why discussing a proper funeral plan is vital because if you are in a position where you will not be able to cover these costs; it can be a daunting prospect when the day comes. There are many online burial insurance comparison sites including burialinsuranceexpense.com who will be able to show you in more detail the policies that life insurance companies can offer.
Depending on how much money is going to be left behind and how much you plan to spend on the funeral can all be discussed with the providers you find online? Every family is different and every funeral plan is ultimately going to be different so it is essential that you consider putting these contingency plans in place for your elderly parents.