Funeral Insurance Guide

A Quick Overview of Funeral Insurance

The average cost of a funeral is about $5000. Some people purchase funeral insurance to ensure that these costs will not burden family members. However, some advisors think investing instead of paying a funeral insurance premium can provide more money to family members. eFuneralinsurance.com aims to provide information to make an informed choice. Things to consider:

  • Typically an insurance agent or funeral director creates a policy that covers needs such as cemetery, flowers, casket, urn, and more details associated with a funeral. It is advisable to discuss your options before purchasing
  • Premiums can involve one large payment, or a graded payment in which coverage increases after a few years
  • It is recommend to discuss your wishes with family and a lawyer, as well as making sure that the funeral director or insurance agent are licensed in good standing
  • Many investment advisors argue that it makes more financial sense to invest the money rather than spend it on funeral insurance. Why? If you pay $5000 for a policy, live another 20 years and the money grows at 9% per year, it would be worth $20,000. However, it might be easier for relatives if most of the arrangements are already planned for.
  • The following sources provide information about funeral insurance:
  • Try getting a quote here:
 
 

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