Funeral insurance for parents is the coverage that offers a higher risk of payout because it accounts for a lower death benefit. General policies range from $2,500 to $25,000. It’s best to sit down and discuss end of life costs and finances with loved ones, but if this is not possible or seem awkward, be sure to research all available options before making a concrete decision. Funeral insurance or Final expense insurance is an excellent way to cover the funeral or burial event. According to Bartlett Funeral Home, an average funeral can cost up to $9k or even more in the USA which is pretty significant especially when someone loved dies and you need to arrange it within a short period of time.
Suffering the loss of a loved one is difficult enough to go through without having additional hassles. Unfortunately any unpaid debt is transferred to next of kin and if there isn’t any funeral insurance for elderly parents the children are the ones left to deal with added expenditures out of pocket. This is why if you are an adult and self dependent, discuss with parents if they have already managed an insurance policy for themselves. If not, you might help them to buy one in order to avoid burdens.
Funerals can be expensive but not all burial insurance for parents is unaffordable. There are many different options available for purchase. Depending on what the company has to offer will determine the package price. Choose between $5,000, $10,000 or $20,000 and that should be enough to cover funerals for parents. Funeral insurance for parents can cost up to $5-$15 per month depending on the provider.
There is nothing worse than being unprepared. Tragedy is notorious for striking off guard. In an economy as uncertain as today’s, the added burden of unforeseen debt from the loss of elderly parents can completely bury the child or children affected financially. Just think for one moment of the shock of losing both parents or the last surviving parent only to be slammed with any unpaid credit card debt, household bills, home loans, car loans, funeral and burial costs plus social security cancellation and all of the other additional things that might need updating. Having funeral insurance for the elderly can save literally thousands of dollars for you. The entire process can be completely overwhelming but it doesn’t have to be with affordable funeral insurance for parents. Be sure to choose the right package and get coverage today.