Few families are prepared for the high costs of planning a funeral for their loved ones. Funeral costs like having a cremation, buying a casket, or planning a reception can add up to thousands of dollars.
A cremation in Canada can cost anywhere from $500 to $5000. The average cost in Toronto is around $1500; $600 in Quebec.
A casket, the transport of the casket, and cemetery fees can equate to over $3000.
A mid- to high-end funeral – including transport, cemetery fees, flowers, and a reception – can cost $10,000 or more
With funeral insurance, you’re preparing for your future and the future of your family. Here’s what may be covered under your policy:
With the right funeral insurance policy, a significant portion of the costs associated with your funeral or burial may be covered by your provider. Save money by signing up for funeral insurance today.
Many individuals and families assume that their life insurance benefits will cover funeral costs. Unfortunately, many life insurance policies do not cover funeral expenses.
Life Insurance and Funeral Costs
Life insurance typically pays out a sum of money in the event of death. This money can go toward making up for the loss in income and maintaining a standard of living for your family.
Without funeral insurance, the payout from the life insurance policy may not be enough to cover funeral costs and everything else you need, and may be difficult for beneficiaries to access.