How Life Insurance Can Help Grieving Families


Felicia Malone-Williams, Shannon & Malone Chapel Of Peace Funeral Home
by Agnes Reardon
Posted 4/27/14

Could the sudden, unexpected cost of a funeral put you in a financial tailspin? If the funeral were yours… would your family have the money for a proper burial?

1. Life insurance can cover burial expenses, protecting you and yours from financial panic.

Burying a loved one can be a difficult and heart-wrenching experience. Financial worries only add to the burden of grieving. “Families suffer when they are not able to celebrate the life that has departed. There is stress when there is not enough money to provide a celebratory service,” says Felicia Malone-Williams, founder and director of Shannon & Malone Chapel Of Peace Funeral Home, Westminister, Colo. “City and county offices are bombarded with these cases and, too often, the family may not qualify for assistance or they are unable to come up with their required financial contribution.”

Funeral expenses can add up; the average cost of a funeral is $7,500. That doesn’t include the cost of a cemetery plot, which varies and in some cases can almost double the initial funeral cost. A good life insurance policy can help loved ones offset the expenses and give them some peace of mind.

“In 30 years the estimated cost of a funeral will be about $30,000 depending on the region,” says Malone-Williams. “That’s a significant cost. But with a basic life insurance policy, you can take charge and make sure funeral expenses don’t ever swamp you or your family. It simply makes economic sense to purchase a basic life insurance policy.”

2. Life insurance is more affordable than you might think.

If you can afford to dine out with the family, there’s probably a life insurance policy that’s suited to your income level. Take some time to sit down and evaluate the family budget. If rent, mortgage, car insurance and utilities are covered, “it’s probably a good time to make plans for a life insurance plan,” says Malone-Williams.

“We see people pull up in expensive vehicles but they can’t put their hands on $6,000 or $7,000 to bury mom or dad,” she says. “If you can go out to dinner three times a week you can afford an insurance policy, you really can!”

Young people who turn 18 years of age should purchase a life insurance policy for themselves, Malone-Williams says. “This generation feels nothing will happen to them but, in fact, it is the opposite. Those 18 to 25 are losing their lives just as any other age group.”

Life insurance plans can provide more benefits than just burial expenses. “A whole life policy can be a great way to build the future for children, covering their college expenses,” says Malone-Williams. “If the breadwinner dies, a whole life policy can replace lost income, covering the mortgage and preventing a family from having to leave their home and find shelter elsewhere.”

3. Many people have some – but they fear not sufficient– life insurance.

According to the Insurance Information Institute, 62 percent of all Americans had some form of life insurance in 2013. That’s roughly 196,012,373 people covered by life insurance.

However, one-third of those people believe they don’t have enough insurance to meet their needs. “That’s why working with a professional is important,” says Malone-Williams, who is a Colorado-licensed insurance agent with United Heritage Life Insurance Co. and works with many clients to meet their insurance needs. “We can help you carefully evaluate your budget and consider what your loved ones might need from a life insurance policy. Deciding on a plan is a very personal decision. We can provide you the assistance you need to make an educated choice.”

Shannon & Malone Chapel Of Peace is committed and dedicated to serving the death care industry. “We believe it a significant part of our responsibility to take the time to educate each family we serve on why having life insurance is important,” says Malone-Williams.

Malone-Williams is happy to meet with you to discuss your needs. Your questions, comments and inquiries are welcome.

Shannon & Malone Chapel Of Peace Funeral Home
Felicia Malone-Williams, Founder, Funeral Director, Mortician in Charge
9035 Wadsworth Pkwy Suite 2500
Westminister, Colo. 80021
(720) 872-9000