Final expense insurance
Funeral expenses can represent a significant amount for families. A dedicated policy provides a lump sum to cover these costs, so you don't add financial stress at an already difficult time.
What does it cover?
- Funeral and memorial service expenses.
- Burial, urn, or cremation costs.
- Related expenses (transportation, administrative fees, etc.).
Examples of possible costs
Funeral home services
$3,000 to $4,000
Casket
$3,000 to $6,000 (or more depending on model)
Urn
$300 to $1,000
Cremation
$400 to $2,000 depending on service
Cemetery plot
$2,000 to $15,000 depending on location
Monument or headstone
$750 to $4,000 or more
Obituary in newspapers
≈ $125
Flowers
$150 and up
Religious officiant
around $200
Transport and hearse
Varies by distance
Reception hall
Varies
Death certificates and admin fees
Varies
Note: The Canada Pension Plan death benefit is around $2,500, which often covers only part of the costs.
Why consider this now?
Putting a final expense policy in place lets your loved ones focus on grieving and organizing the ceremony, without having to find several thousand dollars quickly. Premiums can be modest, especially when coverage is set up early.