Site loading image


How to buy funeral insurance for your parents

May 1, 2020 3 Minute Read

Most parents do their best to protect their children throughout their lives, and that includes protecting them from financial burdens once they’re gone. If your own parents are getting older, it’s important to make sure everyone’s prepared for the expenses their final years can bring – including funeral costs.

The average cost of a funeral can be $10,000 or more, which includes things like burial or cremation costs. If your parents have unpaid medical debts, those can also fall on your shoulders at a time when you’re already grieving. It’s an expense no parent wants to saddle their kids with.

Final expense insurance, also known as funeral insurance, is an affordable way to cover those costs. Here’s what to know about buying burial insurance for parents, and how to talk to your own parents about buying a policy.

Can I buy burial insurance for my parents?

Understandably, many of us haven’t discussed the price tag on our final send-off. However, preparing now can help families avoid serious financial struggles later.

The first step is to talk to your parents about their personal wishes. Some experts recommend following the 40/70 rule: By the time you’re 40 and they’re 70, talk to them about final arrangements and critical aging issues. What kind of funeral do they want? Would they like to be buried or cremated? What kinds of insurance for parents would they need? It might feel scary to have this conversation, but it more than likely will make everyone feel better about what’s to come.

Depending on their wishes, it’s a smart idea to plan for enough insurance to cover the maximum expected cost of the funeral, plus any additional expenses, like medical bills. If you’re considering buying final expense insurance for your parents, there are a few steps that you’ll need to take:

If you have the big talk ahead of time with your parents, it can help things go much more smoothly when the time comes to buy a policy.

Is burial insurance worth buying?

 Buying burial insurance is a simple, affordable way to cover end-of-life costs, making it a good fit for many families.

Peace of mind, for you and your parents

Preparing for final expenses is something that you and your parents can work on together. It can help offset or pay for expenses during a time where you’ll want to focus on you and your family’s emotional needs instead. Have questions? Give us a call to explore your options.


At eFinancial, our goal is to make life insurance simple, affordable, and understandable for everyday families. This content is intended for educational purposes only. Each post is carefully fact-checked, reviewed and updated regularly to ensure the information is as relevant as possible.