Funeral Insurance: What It Is and Do I Need It?

While funeral homes do everything possible to help support families during a loss, there are certain expenses that cannot be reduced or eliminated. For instance, burial plots or urns, the cost of cremation or even a simple memorial service can add up quickly causing unnecessary stress on your family. Fortunately, funeral insurance allows you to plan ahead for final expenses to reduce the pressure on family members at their time of need. 

Covering Post-Death Expenses

While life insurance is meant to support your survivors, a funeral insurance payout can go directly to a funeral home of your choice to help cover post-death expenses. This is especially important if you are concerned that your estate will not be able to support the costs of your funeral. Average funeral expenses across the U.S. are around $7,181 according to the National Funeral Directors Association.

Services Covered by Insurance

Some of the services covered include: preparation of the body, transfer of remains to the funeral home, use of a hearse or other service vehicle, metal casket and printed memorials. Personal remembrance options such as decorative urns or cremation jewelry add costs, but also provide a lasting memory of loved ones who have passed. 

Insurance Tips

Before purchasing any type of insurance, be sure to review current coverage and your estate to determine if the benefit will be worth the additional cost. It can be helpful to discuss your plans with your funeral director or advanced planning specialist to determine approximate costs and the amount of your monthly payment. Be sure that your selected policy is offered through reputable organizations and accepted by your chosen funeral home. 

Do I Need Coverage?

If you feel that the cost of a traditional burial or cremation would tax your family’s finances or your estate, funeral insurance offers a way to reduce financial hardships. It’s important to keep in mind that your expenses do not stop — even after you pass, your home will still incur taxes, utilities and your estate will be liable for any medical bills that are owed. 

Learn more about the various funeral insurance options from our experienced funeral directors and staff at Mountain View Funeral Home and Cemetery. We can work with you to determine an approximate range of insurance that would be beneficial based on your final plans. Contact us today at 480-832-2850 or via email to wecare@mvfuneralhome.com.