3 Smart Ways To Save On Burial Expenses For The Family
No one likes to talk about and or plan funeral details for a loved one, but in order to save on burial expenses ahead of time, it’s important to do so. In fact the sooner you plan the better chance you stand to save the most money. There are things you can do to ensure that your loved one is treated with the utmost care and respect while also taking it easy on your bank account. See some tips below for how to go about saving money on future burial expenses.
1. Have A Plot and Burial Policy –
Did you know that you can take out a burial plot policy similar to what you can for life insurance? Yes! you can and this is perhaps one of the best moves you can do to save money in the long run should a family accident take place. Look around for burial policy providers in your area and see who offers something you can live with and can comfortably afford. When you find something that fits your needs, grab it at once and keep it in place as long as you can.
2. Shop Around –
Just like you would shop for a car when you’re in the market for one, why not too would you shop around for burial expenses. Many individuals grossly underestimate how expensive a funeral can be. There are many expenses to contend with aside from the obvious of casket and or urn, there are funeral service provider fees and flowers, paperwork and lots more. The average funeral can balloon upwards of ten thousand dollars and above with a low cost funeral averaging about seven thousand or so. However if you follow a few key steps and prepare in advance, your out of pocket expenses can hover within your desired budget allocation.
3. Borrow From a Low Interest Account –
If you didn’t have a chance to save for family burial expenses and an unfortunate unforeseen accident were to take place, this could set you back quite a few thousand dollars. If this is the case for you, one thing you can do is to borrow against a low interest account and pay it back the minute you’re able to do so. In this case, you do lose some money but perhaps not as much as borrowing from a high interest account and or taking out a loan.
When you plan for the death of family and loved ones in advance, you’re not only making this time less stressful you’re also making smart moves for the future and your current existing family. Plan right and plan as soon as you can.
What have you done or would you do to save on burial expenses during a family funeral? Tell us below in the comment area.
Article by: Missy who writes for a universal life insurance blog and web based quote portal.