The truth is: Someone must cover your funeral expenses, and what you do now will determine whom that will be. The following questions can help you determine if you’re prepared or if you could use some preplanning assistance.
A: On average, funeral expenses range between $5,000 and $15,000. While cremation and traditional burial methods can range widely in price, cremations are generally less expensive. Cremations typically include costs for disposing the ashes and a funeral service. A standard burial includes a casket, preparing and transporting the body, funeral service, and reception costs. But unexpected funeral costs — from publishing an obituary to death certificate copies — can increase the total expenditures too.
A: According to a 2023 GOBankingRates survey, nearly half of Americans have less than $500 in savings and almost 18% of respondents said they have no savings at all. Even if your situation doesn’t match these statistics, making sure to leave $5,000–$15,000 behind for your funeral expenses can be a strain.
If you preplan a funeral with Preneed insurance through a funeral home, you can either pay the amount in one installment or through monthly premiums. You decide every element you want included in your funeral service, which includes everything from the casket to flowers to transportation for the family. The funeral home totals the costs, and that amount is the basis for your Preneed insurance plan. Upon your death, the funds are used to pay for your funeral.
A: Even if your next of kin can afford to pay for your final wishes, do you want them to? By prefunding your funeral arrangements, you ensure that your family is not burdened by the financial costs when they’re mourning. Preplanning also gives you time to consider all your options and look for the best deals. Without preplanning, family members may have to make quick financial decisions that could cause them to overspend.
A: According to a National Funeral Directors Association’s Consumer Awareness and Preferences Study, nearly 63% of respondents said they believe it’s very important to preplan, but only 21% actually communicated their wishes.
If you don’t want to leave your loved ones in the dark, preplanning allows you to select everything you want for your funeral — from the flowers to the song playlist — to tell your story the way you want.
A: If you’re a veteran and you’d like to prearrange a funeral that honors your military service, you have a few additional factors to consider.
Download our free veterans funeral planning guide >
A: Major life events, like graduations, weddings, and retirement parties, require thorough planning. A funeral deserves the same attention and preparation. Give yourself time to make the right choices for you and your family. Preplanning your funeral can be accomplished in just a few simple steps.
If you’d like to learn how Wellabe's Preneed Funeral insurance can help you fund your end-of-life plans, call 800-995-9010 or visit our regional managers page to connect with a funeral home partner near you.
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Wellabe offers life and supplemental health insurance plans to help you prepare for good days and bad. We’ll always be here to empower you to be well — well prepared, well protected, and well loved.
Kelly Rayburn, AVP national sales and distribution at Wellabe, and Olga Villaverde, from Lifetime TV’s The Balancing Act, explain the importance of preplanning your funeral. While a difficult subject, advance planning can alleviate financial and emotional burdens for your family members.
More topics at thebalancingact.com
