How to cover funeral costs in Florida?
Posted: Oct 18, 2020
On average, the funeral expenses in Florida range from $6,000 to more than $10,000. It is much more than just a burial – costs that come along include transportation, casket, embalming, etc. Cremation, however, is less expensive and runs around $4,000 with services. But, these costs do not include grave markers, headstone, vault, obituaries, funeral plots, and casket decorations charges.
And what may be your choice; paying for these expenses out of the pocket in an already stressful time is quite intimidating for the loved ones you may leave behind. Family members may have to pool in private funds or choose low-cost options if savings are their primary way of paying the costs.
What is the best funeral funding option?
There are several options to help cover the costs of a funeral, one of which is through funeral insurance in Florida. It comes to the rescue to help your loved ones cover the final bill.
Talking of burial insurance policy, it comes with a lower coverage amount than that of term or whole of life insurance plans. Moreover, it is only meant to cover the end of life costs without any hassles. It is a type of life insurance sold in amounts between $5,000 and $25,000. Also, the policies do not ideally require a medical examination and ask for minimal health-related questions.
On the other hand, life insurance coverage is a bit expensive but gives you the peace of mind that your family will not be stuck with paying substantial funeral costs and other everyday expenses. It covers not only the funeral expenses but also any leftover debt as well as lost income for the family.
Many policies pay a lump sum amount to the beneficiary soon after the insured dies. Such policies pay for the funeral and other finances that the beneficiary may require. Plus, the beneficiaries do not have to go through probate, and in most cases, the compensation is paid right after the insured’s death.
Pre-need funeral insurance is also a chosen alternative. But we advise against this since you are more certain to lose money if you die in another state or just change your mind before your death. The circumstances between when you pay and when you die may not be the same. So it is a dicey decision to prepay at a funeral home.
Is funeral insurance worth buying?
Whether you’re 18+ or 50+, funeral planning is a crucial decision for your long-term financial planning. It helps reduce the financial burden on your family. Choosing the right insurance company in Florida for your final expenses aids the family in smoothly going through the entire process. The policy may be useful for most people. And there are firms that hold one by the hand, taking the family through this emotional phase step by step. Moreover, you may also get instant, same-day coverage to fit your needs.
What about insurance costs?
The funeral insurance cost may vary from company to company and state to state. However, you may still expect to pay between $15 and $160 per month, depending on your health, age, gender, and the coverage amount.
For females and younger policy buyers, the premium will be must less. Also, plans with no health questions asked often demand more than those that do not verify the health status but limit you in their complicated terms and conditions. So, find a provider who you can trust. Request a no-obligation, free quote to determine if you want to purchase the plan and if the benefits suit you.
Funeral insurance easies your family’s financial burden when you are not with them any longer. To discuss your requirements in detail with the insurer and make the final decision.
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