Life Insurance and Funeral Costs

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Looking for a way to cover final expenses? Funeral insurance maybe the answer. Proceeds are paid out tax free in a lump sum. The Industrial Alliance website breaks down the cost of Funeral Expenses and related expenses. It reveals that it costs a minimum of $2,500 to organize a funeral these days, which is why so many people do look to take out life insurance to try and cover these expenses. If someone passes away unexpectedly, life insurance will ensure that the funeral can be funded. Of course, there are so many benefits to life insurance, so people may want to read this article here to learn more. Hopefully, that will encourage some people to start paying for cheap life insurance. It can help people with their future. Funeral costs are expensive, so life insurance can help with this. Below is a breakdown of other related costs:

1. Laboratory, thanatopraxy, products – $365 (average cost)

2. Funeral salon for two days – $481 (average cost)

3. Professional and administrative services – $484 (average cost)

4. Chapel and musical services – $148 (average cost)

5. Coffin – $1,975 (average cost)

6. Pall bearers, $200 (average cost)

7. Funeral van (transport of the body from the salon to the laboratory) $195 (average cost)

8. Hearse, $235 (average cost)

9. Limousine, $172 (average cost)

10. Vehicle to transport flowers $135 (average cost)

11. Transport of the deceased $0.75 per kilometer (average cost)

Total Cost: ($4,390)

For additional details on the cost of final expense in Canada or life insurance to cover final expenses, please contact us at 1866-899-4849.

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0 comments on “Life Insurance and Funeral Costs
  1. Chelsey says:

    Very good concept. What is the age limit for this plan?

  2. Jessie says:

    I would like to know the monthly premiums if but this coverage for my entire family. There are five of us, including a 6 year old. Is there a family plan?

  3. Sammy says:

    I have a question after going thru your site, I am a Mmuslim and living in Canada, we have different kind of formalities during the funeral. Can you please answer, whether you cover all those aspects related to each religion?

  4. George says:

    The stats and info given are great. What are the procedures for applying for this insurance? Also are their any exclusions I should know about?

  5. Billy W says:

    If you want to save money for your family members and let them keep most of the payout you could give them permission to cremate you to save on various costs or not to hold a funeral at all, just a thought.

  6. LSM Insurance says:

    Hi Chelsey,

    The age limit for most medical insurance plans range from 75 to 85. Assumption Life Golden Protection is available to applicants 85 and under.

  7. LSM Insurance says:

    Hi Jessie,

    The premiums will depend on the type of plan Term or Permanent and the amount of coverage as well as age, gender and smoking status.

  8. LSM Insurance says:

    Hi Sammy,

    The insurance company will pay out the money to the beneficiary and they can use it to any cost. They do not place a restriction how the money is spent.

  9. LSM Insurance says:

    Hi George, Thanks for the note. To apply you would need to speak with a licensed broke – you call us at 1.866.899.4849. All life insurance insurance policies have a 2 year incontestability period and suicide provision. Some No Medical Life Insurance policies also limit the payout of the non accidental deaths to a return of premium in the first 2 policy years.

  10. Thomas says:

    What is the best plan for someone who had cancer a few years ago but is now in pretty good health

    • No Medical Life Insurance says:

      Hi Thomas, The premiums will depend on the type of plan and the amount of coverage along with your date of birth and smoking status.

      You would likely be better off going with a Simplified Issue plan and subsequently looking a traditioanl life insurance policy.