“What is the average cost of a funeral?”
“I am the main provider for my family of four. What if something happens to me?”
“Life insurance is just so expensive. How could I afford it?”
These are just a few questions I’ve run into about life insurance. Let’s answer:
- The average cost of a funeral ranges from $7,000 to $12,000. Without a financial plan, that expense creates financial instability for most families. Life insurance can give you a final expense policy that is the most cost effective way to cover burial cost and funeral expenses.
- For most families, if the main provider of a family of four passes away, God forbid, that is a large financial burden for which most never plan. That family will have a difficult time adjusting to their new life and will most likely have to dramatically change their financial plan unless the main provider had life insurance. The main provider could name their family members as the beneficiaries through their life insurance policy and therefore replace the expected income after their passing.
- According to the findings from S&P Global, the average cost for life insurance per month is $44 (the amount will vary based on age, health status, etc.). That is around $530 a year. With the average annual salary in the United States ranging from $45,000 to $50,000, purchasing life insurance would be around .01% of the average American’s salary.
These are all major questions families consider every year regarding life insurance and, as you can see, the answers are not necessarily complex. The more you know, the safer you are.
For more information about life insurance and a quote, contact me today. I will gladly help provide the protection you and your family need.
Cross Pointe Insurance Advisors