The silver plan should cover most of the costs associated with an average funeral cost of $9,500.
Due to State Medicaid laws, the following States have a lower recommended maximum plan amount:
|CT||$5,400||NY||$0 - N/A|
The bronze plan should cover most of the costs associated with a cremation.
The gold plan allows the maximum amount of funds to be set aside and should cover all of the costs associated with a funeral while allowing excess funds to be paid out to your estate.
Your funeral expense trust may be set up with any amount of money from $2,500 to $15,000. However, these plans are the most common:
All plans are issued by a life insurance company and funds are guaranteed by the individual State Insurance Guarantee Associations.