Final Expense Life Insurance
Coverage to help protect your loved ones
Help your family deal with final expenses
Losing a loved one is an extremely difficult experience. Picking up the pieces while dealing with the accompanying emotions can be stressful. There are expenses with a death that can, on average, exceed $8,500.
Most families have a hard time coming up with these funds quickly without having a final expense insurance policy. That's where final expense (or burial) insurance comes in. If you are looking for life insurance coverage that cover the cost of your death and funeral arrangements, final expense insurance may be right for you.
Final Expense Insurance allows the family to feel secure knowing that the funeral costs, burial costs and other arrangements are already taken care of should a loved one pass away.
What is Final Expense Life Insurance?
Most people do not like to talk about end-of-life issues, it is important to plan for them. Final expense life insurance can help protect loved ones from having to pay these costs out of pocket. The death benefit is usually used to pay for final medical bills and other end-of-life expenses, like burial or cremation, items like caskets and urns, and more.
In 2020, the average funeral exceeded $10,000. This number is rising each year. In most cases, a basic funeral service will include a memorial, death certificates for the deceased, and housing the remains. In addition to those costs, there are also charges involved for goods and services, such as transportation, preparation and embalming, use of the funeral home, a casket and headstone, a burial plot, gravesite, the burial service or alternatively, cremation. There may also be additional costs, such as flowers and the printing of memorial cards.
Social Security only pays a lump final expense sum of $255 for those who qualify.