Long Term Care and Final Expense Planning

Rob Lowe on The Importance of Long Term Care | The Meredith Vieira Show

How Much Final Expense Insurance Do I Need?

When planning for final expenses, it is important to remember that funeral and burial costs are on the rise. Over the past 25 years, funeral costs have consistently increased.

  • The average funeral cost today is $8,3431.
  • Additional fees for cemetery, monument, flowers, & obituaries can increase this cost to nearly $10,0002.
  • Considering the average costs over the past 40 years and projecting out at 5% inflation per year, by 2030 the cost would be $18,276.3
  • The Social Security Death Benefit only provides a lump sum benefit of $255 for those who qualify4.

1 Source: 2013 National Funeral Directors Association General Price List Survey.
2 Source: http://www.funerals.org/faq/940-consumercemetaryguide
3Does not include cemetery costs.

4 Source: Social Security Rules & Regulations 404.390

Contact your local representative now to get a quote for you final expense needs


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