Texas burial insurance, also known as final expense or funeral insurance, is a kind of whole life policy that protects your loved ones from common end-of-life expenses. These can include funeral costs, medical bills, and anything else that the deceased leaves behind.
But this insurance policy in Texas can also assist family members with car payments, mortgages, and any other debt. Seniors who buy funeral insurance in Texas go through a similar process as they would in other states, but there is some Texas-specific information that you should know. Today, Final Expense Direct explains this and more, including a sample list of the costs for most final arrangements.
Costs Associated with Final Expenses
Your final expenses can include the following:
- Cemetery Plot
- Funeral Service
- Legal Fees, probate costs
- Headstone and Engraving
- Physician and Hospital bills
- Transportation of family members
- Mortgage, car loans, credit card balances
Funeral and Burial Expectations in Texas
Every year, the National Funeral Directors Association (NFDA) compiles a general price list study that reviews the changes in cost for final arrangements across the U.S. When you take into account the items listed above, the average funeral cost in Texas could be close to $10,000.
In the Lone Star State, a death certificate must be filed within 10 days of death with the local registrar. According to Texas Law, if the death occurred in the past 25 years, only an immediate family member can request a death certificate.
If the final disposal of the body doesn’t happen within 24 hours, the body must be embalmed or refrigerated, according to Texas law. No law demands a casket for burial. However, you should ask your local funeral home and cemetery if they have any rules about what type of container they accept.
An average casket will cost between $2,000 – $5,000, depending on the material used (metal, wood, etc.) and the container’s style. A casket is usually the most expensive item you’ll purchase for a traditional funeral.
The practice of cremation has become more common in recent years. According to the Texas Health & Safety Code, ashes can be spread over “uninhabited public land, over a public waterway or sea, or on the private property of a consenting owner.” If you plan on spreading the ashes over water, review the federal Clean Water Act for certain rules and regulations.
Final Arrangements – Costs Breakdown
Here’s an example list of costs for items and services utilized in most final arrangements. These costs don’t mirror the price of any particular funeral home.
|Refrigeration (per day)||$80|
Not mentioned above is a headstone or grave marker, which typically cost around $2,000 – $4,000. Overall, funeral costs will vary depending on the city you reside in and the funeral home you select.
Help with Funeral Costs
Many families are not aware of how expensive a funeral can be. Most folks don’t have enough saved up to cover the costs of their loved one’s final arrangements.
A funeral isn’t considered a medical expense, so Medicare doesn’t cover funeral costs. However, life insurance is a common way to prepare for these expenses, depending on your situation. A particular type of whole life insurance, final expense insurance, is ideal for Texas families who need help with funeral costs.
How Insurance Costs Are Determined
Since most companies offer nationwide coverage, rates for final expense insurance usually aren’t dictated by where you live. Your rate will depend on your:
- Coverage amount
- General health
Most final expense policies are between $10,000 and $20,000, which is enough to cover cremation or funeral costs. You might be able to find a company that offers a $50,000 policy.
Typically, male rates are more expensive because men normally have a shorter life expectancy than women. Also, your rates will be higher if you use tobacco. Your current health and health history are the biggest factors for determining how expensive your insurance rate will be. Many Texas life insurance companies will adhere to the same underwriting protocols as they do in other states, but they might have state-specific plans available. Check with an insurance agent at Final Expense Direct to evaluate your options.
If you’ve had any major health issues or are taking any severe medications, you may not qualify for a basic final expense plan. Fortunately, many companies offer final expense plans for those who can’t qualify due to health reasons. When this happens, the monthly premium is normally higher and there’s a waiting period before the whole benefit is able to be paid out.
Estimated Final Expense Rates
Let’s say you’re 65 years old and determined in good health by the insurance company. You may pay a monthly premium of $29 for a $5,000 death benefit. Now, a 65-year-old in good health could pay around $56 for a $10,000 death benefit. The higher the death benefit, the more your monthly premiums will be. The older you are, the more your monthly premiums will be.
Regardless of your health or age, consider applying for a life insurance plan to help spare your family of the financial stress that will accompany your passing. Contact the team at Final Expense Direct for a free quote.
No Medical Exam
Many insurance companies in Texas offer a guaranteed plan that doesn’t ask health questions and doesn’t require a medical exam. However, these plans are typically the most expensive because the insurer is acquiring the risk of covering a person without knowing how ill they may be.
Other companies offer standard final expense life insurance with no medical exam. To qualify, you simply answer some health questions on the application. Because the insurer assumes less risk, these plans are normally cheaper than guaranteed plans.
How to Get Funeral Insurance in Texas
At Final Expense Direct, we represent the top life insurance companies every day on your behalf. If you’re looking for an affordable final expense insurance policy, we have a solution for you. Fill out our free quote form or call 1 (877) 674-0236 today.