Are you a Georgia resident thinking about how you would cover your funeral or a family member’s funeral? We all can have unexpected events and expenses surprise us. Are you prepared to cover your funeral costs?
What about your relatives? Do they have money saved or an insurance policy ready to cover their expenses? If not, you may have to find 10,000+ to cover their end-of-life expenses on top of preparing to cover your own.
Any adult, especially parents, need to prepare ahead of time to cover big expenses. This gives you peace of mind and protects your children, relatives, and close friends from stress and debt.
What do you need to prepare? How do you choose a funeral policy? What fine print should you look out for?
Read on to learn more.
NOTE: For a free burial insurance quote specific to the state of Georgia click the Get A Quote Button or call 888 626 0439 and one of our friendly life insurance specialists would be happy to provide you with answers and a free quote in less than five minutes.
Quick Navigation Article Links
- How Does Burial Insurance/Final Expense Insurance In Georgia Work?
- What Does Burial Insurance Cover?
- Final Expense Insurance Versus Life Insurance
- Average Funeral Cost In Georgia
- Funeral Price Inflation In Georgia
- If I Live In Georgia Is Funeral/Burial Insurance Worth Having
- What Happens If I Do Not Have A Burial Plan In Georgia
- Is There An Age Limit For Burial Insurance
- Our Favorite Burial Insurance Providers in Georgia
- What Is The Cheapest Burial Insurance Plan In Georgia
- How Much Burial Insurance Coverage Should I Get
- How Do I Buy A Burial Insurance Policy
- Terms To Understand When Talking About Insurance
How Does Burial Insurance/Final Expense Insurance In Georgia Work?
Burial insurance is an insurance plan like any other. This type of insurance is meant to cover the costs incurred when an individual passes. Funerals easily cost thousands. A burial insurance policy can cover one individual or their whole family. Each insurance provider will offer different features to their customers.
Funeral insurance policies are used to prepare ahead of time and cover the cost of products, services, and other expenses.
In Georgia, there can be many unexpected add on or mandatory funeral expenses and service fees. Caskets alone can cost $2000. A large service and showing will cost even more. If you do not have enough money to cover your funeral your funeral size and quality will be limited.
Preparing ahead of time allows your family to bury you according to your wishes and drive without a lot of stress and financial burden.
Final expense insurance can also be called burial insurance or funeral insurance. All three of those terms will be used in this article to describe an insurance policy that covers burial expenses.
In Georgia, burial insurance is usually sold through brokers or insurance agents. Some funeral homes are licensed to sell burial insurance. Also, we at BuyLifeInsuranceForBurial.com can help, of course!
Once you choose your burial insurance plan, you will need to choose a beneficiary. This is a close and trusted individual who will receive your funeral benefits when you pass. They will have the responsibility of spending the money on your funeral and following your wishes. Choose a capable and honest person.
What Does Burial Insurance Cover?
Funeral insurance covers any end of life expenses, funeral, service charges, memorial, products, and debts. Burial insurance can also be used to cover unpaid debts.
Burial insurance gives the policy holder, family members, and beneficiary some peace of mind. You do not have to worry about having no money for your funeral.
Each plan and provider has their own qualifications, age limits, and other factors. Read through each policy carefully. If you work with an agent you can ask them any questions you have and let them do the shopping around for you.
Final expense insurance plans may cover:
- Cremation costs
- Burial costs
- Preparation Of The Body
- Funeral expenses
- Service Expenses
What’s The Difference Between Final Expense Insurance Versus Life Insurance?
Burial insurance policies and life insurance policies are VERY similar. They both offer coverage for specific things. Life insurance is meant to cover the lost income of the individual who passed. While burial insurance is meant to cover ONLY the funeral, memorial, and end-of-life expenses.
Final expense insurance is a smaller payout to be used for expenses directly related to the policy holder’s funeral. It is not meant to cover the lost income for the family.
A life insurance payout is a much larger amount, this is for the family to use to cover daily expenses, mortgages, and other payments.
If your life insurance plan offers final expense insurance it may be termed as a death benefit. Read through the policy to confirm your plan offers this option.
Average Funeral Cost In Georgia
The national average funeral cost for the service, flowers, burial, and plot is $7,000 to $12,000. The national average for cremation and a simple funeral service is $6,000 to $7,000.
Now compare the average funeral in Georgia in 2021 which was $7,528. In Georgia, the average cremation funeral in 2021 cost $6,318.
Keep in mind the casket, urn, headstone, burial plot, flowers, and transportation are separate from the service fees. These other expenses will cause your final price to go even higher.
Reference this chart to find out the specific products and service costs.
|Transporting the body to the funeral home||$350|
|Preparing the body||$255|
|Casket (simple wood casket)||$2,995|
|Urn (simple urn)||$300|
|Burial Plot (basic)||$1000|
|Funeral Facilities For Ceremony||$500|
Other expenses to consider when someone passes are travel expenses for the family and legal expenses if your family needs to hire a lawyer.
Even the simplest of funerals can add up to thousands of dollars. If you go for an all-out funeral with a large service.
Average Funeral And Cremation Service Fees In Georgia By County
|Service Choice||Average Cost|
|Direct Cremation Service Fee||$2143|
|Immediate Burial Service Fee||$3779|
|Cremation Memorial Service Fee||$5985|
|Full Burial Service Fee||$7202|
|Service Choice||Average Cost|
|Direct Cremation Service Fee||$1841|
|Immediate Burial Service Fee||$4117|
|Cremation Memorial Service Fee||$6689|
|Full Burial Service Fee||$7976|
|Service Choice||Average Cost|
|Direct Cremation Service Fee||$2020|
|Immediate Burial Service Fee||$3805|
|Cremation Memorial Service Fee||$6160|
|Full Burial Service Fee||$7539|
|Service Choice||Average Cost|
|Direct Cremation Service Fee||$2231|
|Immediate Burial Service Fee||$4127|
|Cremation Memorial Service Fee||$6491|
|Full Burial Service Fee||$7719|
Factor in the average costs above, any upgrades you know you would like, flowers, and lastly inflation.
You heard right, inflation. Every year funeral prices rise. Read on to understand why!
Funeral Price Inflation In Georgia
Each year the costs involved in a funeral, burial, and cremation rise. Prices continue to rise because the cost of materials and labor continues to increase each year.
Funeral expenses rise at an average of roughly 3.5% to 6.4% a year. So if a very basic funeral costs $7,500 in 2021, in 2031 it would cost around $10,580.
However, since the pandemic, the cost of caskets has increased 20% to 30%. This is because they are usually shipped overseas. It is now more challenging to find the materials and ship a finished casket. The rate of inflation can jump very quickly.
Take a look at this chart which shows the estimated average inflation we expect to see in the next 30 years.
With average yearly inflation of 5%, by 2050, you can expect to pay roughly $27,000 for a funeral!
So, what does this mean for you? Purchasing an burial insurance plan now will save you thousands! You may have money saved but what if prices jump when you pass? What if there is not enough supply just like we have seen during COVID-19?
We cannot prepare for everything, a burial insurance plan covers the known cost and leaves room for unknown factors.
If I Live In Georgia Is Funeral Insurance Worth Having?
As we have considered, the cost of funerals and cremations in Georgia can easily reach $7,500 or more. Realistically it will cost more than $7,500!
As we have seen, prices can increase drastically in a matter of weeks. Preparing ahead of time and having a policy that covers the unknown brings you and your family peace of mind.
Lets say, for the sake of comparison, you do have money saved in a savings account.
While you may think that prepares you for any funeral expenses consider this: to access the funds your family member would need to be authorized as a beneficiary. Do you have a beneficiary set? Do they know your burial wishes? What if there is a dispute between family members over that individual receiving the funds?
What if you have all that covered? How about inflation? Keep in mind, as mentioned above, the cost of funerals and burials rises every year. You will need to contribute hundreds of dollars a year to keep up with inflation! The amount that would have sufficiently covered your funeral now will probably not cover everything in 10-20 years.
Do you see how many factors are involved? And even if you do everything right there could still be more expenses you didn’t think of.
Consider the following factors when deciding if you want burial insurance:
- Your current financial situation
- Any current life insurance plan you may have
- Your family members financial situation
- The services and items you want at your funeral. As mentioned before a very simple funeral will easily reach $6000. A large funeral with many upgrades will easily reach $20,000.
- The money you have already saved/set aside
- Legal and estate settlement costs
- Unpaid debts
- The unknown expenses and fees you are not aware of. These can catch surviving family members by surprise.
Having burial insurance covers these factors. It allows you to rest easy knowing your funeral, extra expenses, and inflation WILL be covered. You are not taking unnecessary risks.
What Would Happen If I Do Not Have A Burial Insurance Plan In Georgia?
What if you decide not to buy a funeral insurance policy? Let’s consider some possibilities.
First of all, this would create a very stressful situation for those left behind. Can you imagine that conversation? “So how are we going to cover your name’s funeral?” “I don’t know, they never talked about it and I don’t know if they have savings.”
Family members or friends would need to collect a minimum of $6,000 to $7,500 to hold even the most basic funeral. They would have less choices and have to invite only your closest relatives and friends.
If your family cannot collect that amount needed to cover your funeral expenses then they will have a few options.
- They could cremate the remains and the funeral home would dispose of them. They would have to forgo a service and any upgrades.
- If there is any money left in your estate the family could use it to cover the expenses. However if your estate is not worth more than the funeral, bills, and debts you left behind the estate will not fully cover the costs.
- They could go into debt to cover the expenses. They could take out a loan or a funeral loan. A funeral loan has high-interest rates and this can cause them long term’s stress and worry.
- They could find an assistance program in their state that helps cover the cost of your funeral.
In the worst cases an individual is buried in a shared grave or a mass grave. In these cases the family has had to abandon the body because they cannot afford to bury it! This is the most undignified way to be buried. Complete strangers will make the final call on how your body is buried or disposed of!
Burying your loved one the way they would have wanted can help the family to grieve and process the loss. It is best to avoid leaving your family in this situation.
What Is A Pauper’s Grave?
A “paupers” grave is a grave for poor individuals. These graves can be used for John or Jane Doe’s. These types of graves are also used for individuals who have been abandoned or signed over to the local government.
We touched on this kind of grave in the previous heading. When a family uses a government assistance program it could be a program that buries people in pauper graves.
The body will either be buried in a plywood casket or cremated and the remains disposed of. In many cases there is not set location where the remains are stored or laid. There is little to no opportunity for the family to visit the grave site and grieve.
A person buried by the public may have to share the same burial plot with someone else. The county could decide to bury the body in a mass grave. This is by far the worst way to bury any loved one.
Click this link to read more about a pauper’s grave.
Is There An Age Limit For Burial Insurance?
Every provider has their own unique qualifications and limits. Usually, you can be insured with a burial insurance policy between 45-85. However, there are providers in Georgia that will insure an individual from the age of 0 (the day they are born) to age 90.
If you are interested in a burial plan please contact us and we can provide you with options. If you want burial insurance outside the ages of 45-85 we can match you with the correct providers who will insure you or a loved one.
Our Favorite Insurance Providers In Georgia
Our favorite insurance providers in Georgia are:
- Royal Neighbors
- Royal Arcanum
Royal Neighbors is a solid choice for anyone who is relatively healthy and has had no recent health issues or hospitalizations. They have a coverage limit of $7000 to $30,000. The age limit they have is 50-80 and they accept bank draft payment only.
The application process is convenient and comprehensive. You can complete an e-app with an instant decision. No need to worry about meeting an agent in person. You could also call the company to complete the application.
They offer First Day Full Coverage. This is a great feature! It means that if approved, you are covered fully from the first payment date for both natural and accidental types of deaths. This kind of plan gives total peace of mind and protection.
They are diabetes-friendly and offer coverage for those using blood thinners. You can also take insulin if you started after age 30. They only have a 2-year look back on cancer or cardiac conditions.
And of course, we have access to this carrier and can help you get qualified if you’re health eligible.
Aetna offers benefits of $2,000 to $50,000. Their age limit is 40-89 years old. They accept bank drafts only. Your coverage and premium are subject to your age.
They do have a two-year look back on your medical history which can negatively affect your application acceptance if you check yes to a knockout question. Aetna will look into your medical history for the past two years when you apply.
Since they do have a two year look back on certain conditions, this provider is good for people who are moderately healthy or meet specific qualifications. Speak to one of our agents to see if your condition qualifies for coverage.
The client doesn’t have to sign anything. Aetna uses a verification system that uses a passcode instead of verbal or signature verification.
Royal Arcanum has coverage between $2,500 for Graded and Simplified coverage. Their age limit is between 45-85.
Your age may affect the plan you qualify for. Graded coverage in all other states between the ages of 45-85 is $2,500 to $15,000. Usually their coverage is between $2,500 to $50,000.
Once you have applied for graded coverage it is usually issued the same day or max 48 hours. Mostly the same day.
This plan would be best for semi healthy individuals, the graded and simplified coverage can apply to those with certain health issues. Contact us directly at 888 626 0439 to learn more.
What Is The Cheapest Burial Insurance Plan In Georgia?
The cost of your insurance depends mainly on YOU. Your age, health, and other information will affect your premium and other insurance costs.
Our agents have access to over 15 different insurance providers. This allows us to do the shopping for you to find the best plan for you at the most reasonable price.
Click the Get A Quote Button to find out the cheapest burial insurance available to you or call 888 626 0439 and one of our agents would be happy to provide you with answers and a free quote in less than five minutes.
How Much Burial Insurance Coverage Should I Get?
The best burial insurance plan will cover what a funeral/cremation and all other expenses involved would cost today and in the future. As mentioned before, burial becomes more expensive each year due to constant inflation.
We have seen prices jump as high as 30% for some products and burial-related expenses during COVID-19. Caskets and other products became more challenging to get as supply was interrupted.
In Georgia, it is a smart idea to have coverage between $8,000 to $20,000, if you are older. If you are younger you need to start with at least $20,000 and slowly increase your coverage periodically. As we saw in the chart, by 2050 it is very likely funerals will cost around $27,000.
Your plan will need to factor in inflation. Either way, having some form of coverage is a protection for you and your loved ones.
Your plan should factor in
- Current/next year’s average cost of funeral
- Any upgrades you want
- The cost of the memorial (flowers, catering, speaker…)
- Medical bills
- Credit card balance
- Other debts
- Legal fees
Once you calculate those expenses, you will have a pretty good idea of the amount of coverage you will need.
How Do I Buy A Burial Insurance Policy?
In Georgia you can find burial insurance online, call a provider or deal with an agent.
When you contact one of our agents we shop for you. We compare over 15 different providers, their cotss, your needs, and your health information. We can provide you with the best options for you and your family.
We will provide answers to any questions you have. Our agents make themselves available to answer any questions you have. Give us a call to get a free quote and learn the options that are available to you.
For a free burial insurance quote specific to the state of Georgia click the Get A Quote Button or call 888 626 0439.
FAQs About Getting Burial Insurance In Georgia
What If I Have Pre-existing Health Issues, Can I Still Be Covered?
100% you can get coverage. There are many different kinds of plans that are tailored to different individuals circumstances.
Even if you have had health issues recently, you will qualify for some kind of final expense insurance.
There are Guaranteed Acceptance policies. These policies ask no questions and guarantee coverage acceptance. Contact one of our agents by clicking the Get A Quote Now button or calling 888 626 0439.
What Questions Will I Be Asked?
Every application will require some information. Burial insurance applications may ask questions about your health and any past health issues or illnesses.
Some applications have as little as two questions while other application forms ask upwards of 10 questions. The application is not an extensive and exhausting process. If you have any questions or need any assistance just give us a call.
What Is Guaranteed Acceptance/Guaranteed Issue?
This means you are GUARANTEED to be accepted or insured. Sounds great right? These plans are great for many different individuals.
If you may not be accepted or have been rejected before we can get you set up with a Guaranteed Acceptance provider.
No questions asked, as soon as your application you will be accepted. Not every provider offers guaranteed acceptance. Guaranteed Issue is a good plan for someone with many health issues.
What Else Should I Prepare In The Case Of My Death In Georgia?
Preparing the basics can save your family YEARS! I’m not joking, having just a few documents in place, an insurance policy, and a beneficiary will literally save your family years of their life.
Why? If you do not prepare these things your family may have to go to court to prove they are your heirs, there could be disputes, the bank could refuse to transfer mortgages or funds to the survivors, or the family could have to go into debt to cover your funeral.
See, I wasn’t joking when I said years!
So what should you prepare. Take a look below. Make sure to visit a local lawyer so your legal documents meet the Georgia laws.
The basic things to consider are:
- Get a will, clearly delegate assets. (You could get a couple original copies of the will in case a copy is lost.)
- Cover your funeral expenses, provide savings, burial insurance, or pre-need insurance.
- List the assets you currently own and the upkeep involved so your family can easily take over management.
- Collect your passwords and important documents in a safe place that can be located by a trusted family.
- Set your beneficiaries up and make sure they are aware of their responsibilities.
- Covey your burial wishes in a document or to your burial insurance beneficiary.
- Consider adding your spouse’s name to your mortgage.
Can I Have Multiple Burial Insurance Policies At The Same Time?
Yes, you can hold multiple kinds of insurance policies at the same time. As you and your family grow and expand your needs will continue to change. Having multiple policies can help cover these ever changing needs.
You can get one policy at a young age and then you can decide to purchase a higher coverage insurance policy later in life.
You can own a whole life insurance policy, an additional policy to cover your income and family’s needs, as well as a final expense policy. The amount of policies you hold is up to you.
The only important factor to remember is that you need to financially meet/qualify for the benefits you will receive.
You may decide to purchase a policy rider instead of a completely separate insurance policy. This can reduce the hassle involved.
Terms To Understand When Talking About Burial And Final Expense Insurance
Death Benefit – a one-time payment from your life insurance provided upon the policy holder’s death. In some cases, this can be considered Final Expense insurance but not always.
Beneficiary – the person you designate the benefits and payouts to go to.
Lapsed – when the policyholder fails to pay the premium.
Term – the period you are covered by your insurance policy. This could be 2 weeks for travel insurance or 45 years for life insurance.
Premium – the amount you are required to regularly pay the insurance provider to keep your coverage.
Policy Rider – extra coverage you can add to an existing policy. If your circumstances change, getting a policy rider will allow you to increase your coverage.
Term Life Policy – this is life insurance that provides insurance coverage at a fixed payment rate for a set period. You lock in the premium you will pay for an agreed-upon amount of time.
Whole Life Insurance – a life insurance policy that will stay in force for the entire life of the policyholder. The premiums are fixed and death benefits are not usually offered with this insurance plan. Sometimes called straight life, ordinary life, permanent life insurance, or whole of life assurance.
Universal Life Insurance – this is a type of insurance policy mainly sold in the United States. This is permanent insurance that stays active as long as the policyholder pays the premiums. This policy offers flexible premiums and death benefits. This insurance also has a cash value factor.
Pre-need Insurance – this is an option where an individual pays a funeral home for their funeral costs before they pass. The individual can choose their service, casket or urn, and other details.
Insurability – this refers to whether or not an individual qualifies to be insured under a policy.