This includes the digging and filling the grave, and may include securing necessary permits, maintaining legal files, keeping records, the use of a casket-lowering device, and other items or services. Burial vaults or grave liners.
In the case of ground burial, many cemeteries require either an outer burial container—either a burial vault or grave liner —to protect the earth around the casket. This fee generally does not pay for the maintenance of headstones or other gravesite memorials. That is why financial planning is so important before you die.
There are a number of ways to prepare for funeral expenses. A life insurance policy is an easy way for you to contribute to your funeral expenses while you are still alive. Though it sounds morbid, we all die. A life insurance policy can be a way to help your loved ones after you are gone by prepaying your funeral costs through your monthly premiums. The benefit of a life insurance policy is that you will pay a monthly premium and your beneficiaries will receive a death benefit at the end.
The benefit can help cover any debt you may have and also help to pay funeral expenses so that it can relieve them from the burden.
Additionally, most beneficiaries will be able to access the benefit within one or two weeks after the insurance carrier reviews the claim and finds that everything is accurate. There are different types of life insurance policies to help you plan for end-of-life expenses. Term life insurance provides coverage for a limited time period at a fixed premium rate.
Whole life insurance guarantees insurance for your entire life given the fact that premiums are paid to the maturity date. It also offers additional savings components to beneficiaries. If you want lifelong coverage and a diverse portfolio, whole life insurance may be good for you.
However, it can be pricey and a big commitment. Final expense insurance can also be used to cover funeral expenses. Beneficiaries can also use the benefits for other costs as well such as medical and legal fees. Elderly individuals may find final expense insurance most attractive to offset the funeral expenses as this type of insurance costs much less than a traditional life insurance policy because you do not need much coverage.
However, the benefit amount may not be as high. You can use a traditional savings account for funeral costs. The advantage of a savings account is that the money will be kept safe and generally accessible.
A payable-on-death POD account can be a better bet than a traditional savings account. This allows you to set up a special funeral savings account. You appoint the person you want to control the funds after you die, and that person can then access those funds simply by showing a valid death certificate.
Funds can be accessed immediately as soon as the beneficiary shows the death certificate, and the account does not need to go through probate. Military members are eligible for special burial benefits , while others may opt for a bank loan or prepaid plan through their chosen funeral home. You can also look into military benefits such as the death gratuity program. No one knows what will happen to them and death is not something that is foreseeable. A grave marker is typically a flat granite or bronze plaque that lies flat on the ground on top of grave site.
Here is a rough approximation as to what you can expect to spend on a headstone:. Again, the funeral home may coordinate the purchase of the cemetery space and headstone on behalf of the family — it just depends on the funeral home.
While this can be a great convenience to the family, the price can be higher because the cemetery or headstone dealer will have to pay an additional sales commission to the funeral home. It is fair to say that many families are truly surprised when they add up all the costs associated with a funeral. Fortunately, proper funeral planning can yield considerable savings.
If you would like to save money the next time you need to make funeral arrangements, you can search and compare local funeral home pricing at Parting. This article provides average funeral cost data for American funerals. Average Funeral Costs: Can they be lowered? Calculate funeral costs in your city or zipcode.
Related Articles. November 13, Funeral Planning Guidance. Eliminating this service can save you hundreds of dollars. Under the Funeral Rule, a funeral provider:. A casket often is the single most expensive item you'll buy if you plan a "traditional" full-service funeral.
Caskets vary widely in style and price and are sold primarily for their visual appeal. Typically, they're constructed of metal, wood, fiberboard, fiberglass or plastic. When you visit a funeral home or showroom to shop for a casket, the Funeral Rule requires the funeral director to show you a list of caskets the company sells, with descriptions and prices, before showing you the caskets. Industry studies show that the average casket shopper buys one of the first three models shown, generally the middle-priced of the three.
So it's in the seller's best interest to start out by showing you higher-end models. If you haven't seen some of the lower-priced models on the price list, ask to see them — but don't be surprised if they're not prominently displayed, or not on display at all.
Traditionally, caskets have been sold only by funeral homes. But more and more, showrooms and websites operated by "third-party" dealers are selling caskets. You can buy a casket from one of these dealers and have it shipped directly to the funeral home.
The Funeral Rule requires funeral homes to agree to use a casket you bought elsewhere, and doesn't allow them to charge you a fee for using it. No matter where or when you're buying a casket, it's important to remember that its purpose is to provide a dignified way to move the body before burial or cremation.
No casket, regardless of its qualities or cost, will preserve a body forever. Metal caskets frequently are described as "gasketed," "protective" or "sealer" caskets. These terms mean that the casket has a rubber gasket or some other feature that is designed to delay the penetration of water into the casket and prevent rust.
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