Final Expense Planning

"I can't afford to die” That is the unfortunate response I often hear when I discuss final expense planning.

If you have not made any final expense plans that relate to dealing with the costs outlined below, I urge you to give me a call so that you can look at some alternative prices for insurance - because in this case, time really is money. Just as when we priced your Medicare Supplement I look at all the available carriers, I have the same type of quoting software for final expense plans and can help you choose from several of the best plans. The longer you delay in getting coverage, the older you get, the more it will cost you.

At no charge, I offer Legacy Safeguard Services to provide you with assistance in this important matter. Legacy Safeguard provides members with legacy planning and end of life planning guidance, assistance, and support. Members receive these benefits with Legacy Safeguard:

  • Legacy Planning Services
  • End of Life Planning, Guidance & Assistance
  • Support for Survivors
  • Estate Planning Support

Simply ask and I will provide you with the entire system which you will find to be an invaluable tool. There are no obligations with this service. This is simply a superb tool to help you with the important planning you need to make.


Now, let's take a look at some costs you will need to consider for final expense planning:

First, here’s what people never consider… when you die or are dying, your family will want to be near you. If they live out of town, this can mean a costly airplane ticket and car rental because there is never time to plan something like this in advance. They may need to miss work and the associated earnings. Do you want to put that burden on them or allow for that as part of your final expense planning?

The average cost of a funeral in 2017 is $9,000. That includes: Casket, Embalming, Flowers, Basic Services, Grave Marker, Clothes or Shroud, Plot, Vault, Hearse

Funerals can be unnecessarily expensive, in fact so much so, that a funeral is usually the 3rd or 4th largest single purchase you will make in your life behind a house, a wedding and a car. Would you purchase a house, or a car, without any research or planning? No, of course not, most likely you would research beforehand and compare like-for-like.

As morbid as this may seem, planning ahead can help you save BIG $$$, namely because you have the time and the objectivity to carefully review your funeral options. Unfortunately, this is not always the case and many of us find ourselves suddenly thrust into the role of funeral planner, often at the same time as trying to grieve!

  • KNOW THE FUNERAL RULE – Understand your consumer rights! The Federal Trade Commission (FTC) has legislation and rules to try and protect the rights of consumers when purchasing funeral products and services
  • DECIDE EXACTLY WHAT TYPE OF FUNERAL SERVICES YOU REQUIRE BEFORE CONTACTING THE FUNERAL HOME - Do you want traditional full-service, or a more simplistic life celebration? Are you going to purchase a casket, or use a rental casket?
  • COMPARE PRICES - It is vital to compare like-for-like quotes from funeral homes. You will be astounded at just how much costs can vary for the same service from different funeral providers in your area
  • SAVE $$$ ON A CASKET - The casket is the single most expensive item to be purchased for a funeral. The FTC ‘funeral rule’ does mean that in most states you have the right to buy a casket from elsewhere than just your funeral home, and the funeral home MUST accept it
  • SAVE $$$ BY ARRANGING FLOWERS & THE OBITUARY - You will save a considerable amount of dollars by arranging your own flowers, and checking prices with more than one florist. Save money by writing your own obituary notice and arranging directly with the local press to have the obituary notice published.

Cremation: A cremation service package can cost anywhere between $1,500 and $3,500, although you do need to check exactly what is included in the price.

Cremation now accounts for just over 42% of all funerals in the United States, with industry watchdogs reporting that by around 2020, more Americans will be cremated than buried. There are several reasons why cremation is gaining popularity and the lower cost of a cremation is certainly one of the main reasons why more people are opting for cremation.

Many funeral homes and crematories offer cremation packages. In a cremation package they ‘bundle’ together some basic services, and the price quoted for a cremation package is an inclusive price.

The average price of a direct cremation generally varies between $495 and $1,500. This cost varies between areas. In Miami, Las Vegas and Phoenix you can arrange a direct cremation for as little as $495 - $580. However, in most metro areas across the U.S. a direct cremation costs between $795 and $1,200. There are areas where you can expect to pay over $1,000, even for the most minimal direct cremation package.

The question regarding Final Expense Planning is quite simple: Do you want to do it or do you prefer to leave this expense with your family?


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