No one likes to think about death and funerals. But planning ahead of time can be a wise financial decision. And by having burial insurance, you’ll have peace of mind knowing that everything will be taken care of when the time comes.
How does it work?
A burial insurance policy can help pay for funeral and burial costs as well as any debts you may have when you pass away. That can include credit card debt, outstanding loans, or medical bills not covered by Medicare. Funerals can be expensive, even without a plot and headstone. The average funeral cost in the U.S. is between $7,000 - $12,000 but can go as high as $30,000 depending on the funeral service.¹ Premiums are locked-in based on your current age and will never increase.
- National Funeral Directors Association, "Statistics", https://nfda.org/news/statistics
* $20,000 burial insurance at $61.80 a month for a 60-year-old female, non-smoker, rated at Preferred Risk Class with Transamerica Financial Life Insurance Company of New York. Individual rates will vary depending on age, gender, and current or previous medical conditions.