A long and difficult road for many, losing a loved one has an emotional cost that can’t be quantified.
But having a final expense strategy in place ahead of time may help alleviate the financial burden of that struggle so that you and your family can better navigate through those difficult times.
You may not have given this much thought up until now, but did you know that a traditional funeral can cost up to $10,000? If that number seems outrageous, look at how quickly some of the basic items and services can add up:
- Cost of grave site: $1,000
- Cost to dig grave: $600
- Cost of casket: $2,300
- Cost of grave liner/outer burial container: $1,000
- Cost of headstone: $1,500
That’s already $6,400… and we haven’t even added in mortician’s services, use of the funeral home, the fee for the funeral director, the cost of flowers, and more details that you might not have thought about (until you’re in a position where you need to). These costs may vary by geographic location, but one thing you can count on is that the emotional cost you or your family experiences when losing a loved one could be compounded with a financial burden if you haven’t done a little planning now.
In the face of losing someone you love, your financial situation might be the last thing on your mind. With a solid final expense strategy in place, you have the potential to keep it that way.