Funeral expenses in the U.S. cost an average of around $7,000 up to $10,000, but there are ways to save money on this final life expense. These include finding the right funeral home or insurance provider.
The place where you live will also determine the actual cost of burial and other expenses. If you live in Utah, the cost of funeral service in Clearfield may be more or less expensive than a similar service in Salt Lake City. Lindquist Mortuaries and Cemeteries reminds customers that when choosing a service provider, it is better to ask quotes from at least three companies to make an informed decision.
Reduced Spending on Certain Services
Those who wish to be buried after two or three days may save money by removing the embalming process from the list of services, particularly if you do not plan to have an open casket at the memorial. The embalming process is not necessary in these cases. It only helps to make the body appear more “lifelike” if the funeral viewing will last for a few days or a week. It also preserves your body until the day you are about to be buried.
Your choice of a coffin will also be a major part of the expenses. Many funeral homes have discounted offers on certain casket types, so be sure to shop around before buying one. While rates and prices may vary among states, federal law requires companies to provide their clients with detailed quotes when asked for information over the phone.
Certain benefits apply to honorably discharged servicemen, such as free graves. Some veterans could be eligible for free burial at the State Veterans Cemeteries, along with their spouses. You could already save money just by qualifying for these incentives.
Funeral Insurance Products
Burial or funeral insurance products serve as another way to guarantee that your loved ones would no longer need to worry about the huge expenses when you pass away. The available options depend on your insurance provider. Some of the common ways to pay for funeral insurance include a lump sum, fixed-period, and periodic premiums.
A lump-sum premium typically applies to sick or ill people, although those who are not fond of tracking regular payments could also use this type of payment. Children or relatives of old people may consider this option since it only requires a one-time payment, but the coverage will still be valid especially when the need arises in the future.
Middle-aged people who are still working have a stable income choose to pay a fixed-period payment, which covers premiums after they have retired and have no certain source of income. Note that you may pay a higher rate for permanent coverage either for 10 or 20 years.
On the other hand, monthly or annual payments involve smaller premiums. However, the overall amount may be higher and the risk of lapsed coverage is greater if you miss a payment in the future.
Funerals are just like other occasions where people tend to overspend due to the emotions that cloud their judgment. Whether or not you want to spend money on a separate insurance policy, it still pays to do your research to find the best rates.
