Final expenses also add more grief and financial strain to the already suffering family. People are never prepared for these unexpected expenses.
That’s why a final expense policy or a traditional life insurance policy works best for people who want to secure their families from the hardships that follow after their death. Whether it is the cost of the final medical bills, funeral, cremation, burial, or other things that follow, a loss-bearing family is never composed enough to deal with these things immediately after hearing the bad news.
In fact, the cost of a funeral has grown over time to become more expensive with each passing year. In the past 30 years, funeral costs have hiked by a whopping 227.1%. Moreover, 2.4 million funerals occur every year, costing around $8,000 to $10,000 to the mourning family and loved ones.
Below are some of the average funeral expenses you can expect:
• Basic services fee – $2,500
• Casket – $2,500
• Funeral director’s fees – $1,500
• Embalming and body preparation – $750
• Funeral ceremony – $925
• Transportation – $500
There are several factors that can impact the cost of your funeral. For example: