Who Pays for the Funeral?

It’s a terrible time. A loved one has passed away. The family is heartbroken and grieving. The pain from loss is overwhelming. And then the bills start coming in. Co-signed credit card bills. Funeral expenses. Sometimes even unpaid medical expenses. It feels like it’s never going to stop. Who’s going to pay for it all?

Well, if Mom or Dad left behind some money, it’s not a problem. But if they didn’t leave enough, the immediate family can get stuck with these bills.

And it can be painful.

Sadly, this is a problem many Americans have to face. A loved one passes away and leaves big bills for the family to figure out. In 2017, funeral costs in America averaged as much as $10,000, according to Parting.com.

If you were to pass away, would your family be able to afford your final expenses? Don’t be surprised if this question raises some concerns. With many American families living paycheck to paycheck with little in the way of savings, an untimely death could be financially disastrous for the surviving family members.

So, what do you do?

The simplest solution is to save money. If you can sock away a $400 – $500 dollars a month you should be able cover the cost of a funeral in a couple of years. You’ll need to save more each month and possible for longer if these final expenses are larger.

If you don’t already have savings set aside, the probability that you will be able to save a sizable chunk of cash each month may seem unlikely and you may want to explore your insurance options.

Believe it or not, insurance companies actually have a product specifically designed for this situation! It’s a special kind of life insurance called guaranteed acceptance life insurance, often referred to as “final expense” (fitting, right?) This particular product is usually very simple to get, with no health exam, no lengthy medical questionnaire, and guaranteed acceptance for everyone between the ages of 45 and 85.

Guaranteed acceptance life insurance policies typically pay out anywhere from a few thousand dollars up to about twenty-five thousand dollars and cost more per dollar of coverage than a term or whole life insurance plan, but are popular because of the simple application and approval process. Also, short of not paying your premium payments on time, you can never get cancelled.

Because the payouts are modest, meant only to cover the costs of a burial and not for the purpose of leaving behind an inheritance, the monthly premiums are also usually affordable, starting as low as 30¢ a day.

Request a free price quote for guaranteed acceptance life insurance



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$8.80 monthly rate is for 45-49-year-old female buying a $3,000 guaranteed whole life insurance policy. This policy may not be available in all states.