How to Plan for Funeral Expenses
Losing a loved one is always hard, and the unexpected grief and loss can be extremely difficult to cope with. On top of that, the mounting costs of a funeral can also be surprising, and unfortunately, sometimes with hardship. The average cost of a funeral in the U.S. adds up to a whopping $9,000, with American funeral costs coming to a total of $1.6 billion in 2017 alone. So how do you plan for unexpected funeral costs?
Even if you’re not planning on losing a loved one, there are ways to make the costs of a funeral less of a burden. Here are some tips and tricks to consider when planning a funeral to help you keep funeral expenses down:
Insurance. Look into insurance options to help you pay for the final cost of the funeral. If the deceased has purchased life insurance with a death benefit, you’ll have a significant amount of money to help you pay for funeral costs. You can also invest in burial insurance, which is designed to help you pay for funeral expenses, however, different demographics of people will pay different amounts. For more information on burial insurance, click here.
Social Security. Social security provides up to $255 dollars to the spouse or child of the deceased. Though a small figure, you’d be surprised at what this money could pay for, from floral costs, obituary expenses, or other personal things you may want to add to your loved one’s funeral.
Cremation. The costs of cremation vs. a vault, plot, and/or casket is dramatically different. Without a funeral service, the cost of cremation is only about $450, and most urns are under $100 each. Vaults, plots, and caskets can add up to thousands of dollars. Should you choose to go the cremation route, remember, you’re still always able to have a funeral service to honor the life of your loved one, and still spend significantly less than you would if you were buying a traditional casket and plot.
Comparison Shop. Before you commit to doing or paying for anything funeral-related, don’t be afraid to comparison shop! Many funeral homes will make you feel like you have to purchase everything through them, but the truth is, you can usually buy things from different places, which will help you pick more affordable options. Look at all the choices for urns, caskets, flowers, food, etc. And consider using the app “Ever Loved,” which was designed to help compare costs of different funeral homes, cemeteries, caskets, and more to help you navigate the funeral planning process.
At Trinity Memorial Gardens, we’re dedicated to providing you the best experience while honoring the memory of your loved one. We will help you plan your funeral and service while guiding you through the funeral planning experience, all while staying within a budget that’s comfortable for you. We’d be honored to help you celebrate the life of your loved one, friend, or family member. For more information, visit our website or give us a call at (813) 920-4241 or (727) 376-7824.
Sources:
https://moneyning.com/budgeting/5-unexpected-funeral-expenses/
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