How much life insurance do I need for a burial?

Answer by  HilaryC (1382)

All the procedures for wakes, funerals and burials cost from 5-10k each so plan accordingly. There may be a need for extra money for extra expenses around that time period however, such as medical costs not covered by health insurance.

Answer by  Ella22 (610)

Cremation is cheaper than a regular funeral and it depends on whether you have purchased a preburial agreement. If you want a simple traditional funeral $15,000 to $20,000 is enough.

Answer by  sc1234 (1319)

You probably need around ten thousand dollars for a burial, but I would think of it a different way. Best practices indicate that you should insure your life for about 10 times your yearly wages. So if you make $30,000, insure your life for $300,000, etc.

Answer by  pattyp (24)

Prices differ based on location. A life insurance policy of no less than $3,000 would be sufficient. Consider the price of a burial plot, having the plot opened, and purchasing a vault. A policy of no less than $6,000 if a funeral service is desired.

Answer by  flamiss22 (5081)

It all depends on what your final request will be. If you wish to have an elaborate send off and some money left over for your heirs then get something substantial. However if you wish a simple cremation with no fuss then you can get the most basic one they have.

Answer by  tamarawilhite (17883)

Burials typically cost $5,000 to $10,000. If you do not have a purchased burial plot, then plan on 25,000 - $5-10K for burial, 15-20K for the plot.

Answer by  CJ98 (127)

Cheap burials are only a few thousand dollars, but the cost can creep up quickly if your family wants a fancy casket, a large headstone, etc. If you have a spouse or kids, they may also want to buy multiple burial plots (for you and them,) which will be pricey.

Answer by  Rubberchicken (819)

The amount of coverage that you require will depend upon the arrangements you're interested in. Funerals with average coffins can run around $5000, which is exclusive of cemetary costs. For more premium services, you can expect those costs to at least double. Most insurers will not write policies on adults of less than $15000 to $20000.