Final Expense Insurance

What is final expense life insurance?

Final Expense Insurance, sometimes referred to as burial insurance, can provide financial protection to your family by covering various expenses that may arise at the time of your passing. These may include arrangements for your funeral, along with any medical or legal bills that need to be taken care of. The cost of funerals is often quite high, with the average amount spent being in excess of $10,000, so this coverage can help to prevent your loved ones from being left with a heavy financial burden.

What are the benefits of purchasing a final expense insurance policy?

• Final expense insurance can be a relief to your family since it gives them the funds they may need to pay costs related to your death.
• It is a great option for individuals who are not able to get any other kind of insurance due to their age or medical condition but still want to reduce the financial strain on their loved ones.
• It is reasonably priced since the coverage amount is not large.
• This type of policy builds up a cash value over time, so it can be borrowed from or used as security while you are alive.
• The premium cost will usually remain the same, which can be helpful when it comes to planning a budget.
• Coverage is guaranteed and the policy will not be terminated, even if your health worsens.
• The death benefit is intended for final expenses, but the beneficiary can use it for what they think is appropriate - for example, a nest egg, mortgage payments, and credit card debt.