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Life insurance could provide your family with financial security and the money needed to pay for your funeral. Funeral expenses have increased over time, but recent data shows that average funeral ...
How Much a Funeral Costs The average funeral costs between $7,000 and $12,000. This includes a viewing, funeral service, preparation, transportation, a casket and burial.
If you don't have $10,000 to stash in a money market account to cover the cost of your funeral, you can always buy final expense insurance and name a loved one as the beneficiary of the policy.
Final expense insurance is a straightforward option designed to help cover end-of-life costs, such as funeral expenses, medical bills and outstanding debts.
Between the years of 1990 and 2018, the overall average inflation rate was 2.3% per year while the average inflation rate for funeral expenses was 3.7% per year. [23] According to the U.S. Bureau of Labor Statistics, this means that the average cost of a funeral in 2018 is 177.4% more expensive than a funeral in 1990. [23]
The 2013 Canadian federal budget increased the amount of money one would receive for expenses at a funeral home (from $3600 to $7376), however the exemption offered in the case of married Veterans (in the means test) was not changed, remaining at $36,310 in net assets (as well as the exemption of a home and vehicle). With the number of World ...
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