Three Tips To Save On Funeral Insurance
If there’s one thing in the world that isn’t cheap, it’s funerals. On average, a typical funeral can cost upwards of $9,000 or more. This doesn’t count what will have to be paid for in terms of a plot, flowers, and the actual headstone itself. It’s also no secret that no one wants to take the time even to think about their passing, as well as prepare for it. Unfortunately, it’s something that will eventually have to be done, and by planning for it, you will be able to help your family avoid making a lot of decisions while they’re mourning your passing.
Thankfully, there are ways that you can save money on funeral insurance to prevent your family from having to spend lots of money. Here are three useful tips that will help you save on funeral insurance.
Save the Money Yourself
This is often considered to be the most viable option to save the most money on funeral insurance. The best way to do this is to establish a joint account and have the surviving individual access it when the time comes for the funeral to be paid for.
The United States Department of Veterans Affairs pays allowances of varying amounts for both funerals and burials of individuals who have served in the armed forces. For instance, if an eligible veteran passed away due to a non-service related death in a VA hospital, you can look at saving approximately $700 on your funeral insurance, as the VA will pay this amount. If the death occurred outside of a VA hospital, the amount would be $300. However, if the death took place while in combat, the total amount you can save will be $2,000 plus further transportation costs if the veteran will be buried in a national cemetery. The VA can be contacted directly for more information regarding the benefits that they offer and how they can help you save money on your overall insurance costs.
Certain types of requirements must be met for this particular option. Generally, social security will allow you to save a total of $255 off your funeral insurance, as they will pay this amount in a lump sum to either a surviving child or spouse, provided they meet the requirements that have been set forth. Similar to veterans benefits, the social security department can also be contacted regarding their particular benefits, as well as how you can use them to help you save money on funeral insurance costs.