A conversation regarding final expenses might be difficult to do. End-of-life costs may become a burden to your loved ones without a Final Expense Insurance.
According to The National Funeral Directors Association, funeral average costs have increased a thousand-fold since 1960.
You’ll learn more about this type of insurance and its benefits as you read along.
Final Expense Insurance
Also known as Burial Insurance or Funeral Insurance, Final Expense Insurance is insurance marketed specifically for death expenses.
Final Expense Insurance falls under the whole life insurance category, so beneficiaries can use it for any purpose they like – not just on final expenses.
This insurance might prefer you financially for the following end-of-life expenses:
- Medical bills
- Rental feels for funeral homes.
- Memorial Packages
- Memorial Service costs
- Transportation for burial
- Caskets
- Embalming costs
- Reception
- Cremation costs
- Final send-off costs
Benefits of Final Expense Insurance
Final Expense Insurance is beneficial because it might provide cash for your loved ones to cover the costs associated with your death. Here are some of its benefits.
- This policy does not expire as long as premiums are paid on time.
- It does not require any medical exam, so it’s easier to qualify for this insurance.
- Final Expense Insurance might increase its value over time.
- It allows you to select your beneficiary.
- Final Expense Insurance is a flexible type of plan.
- In case of accidental death, this policy might give additional benefits.
Final Expense Insurance might also provide intangible benefits to you and your loved ones.
- It eases the burden for your loved ones who are grieving.
- Your family will have immediate access to the funds, so no one will have to pay out of pocket.
- It provides peace of mind knowing that it will cover your funeral expenses.
Conclusion
Illness and death are unpredictable. Therefore, it is important to be prepared financially when unfortunate events occur. With Final Expense Insurance, seniors will be at peace knowing that the benefits might already be enough to cover their funeral expenses.
At Lapeira & Associates LLC, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we’re here to help you out. Learn more about our products and services by calling our agency at (855) 963-6900. You can also request a free quote by CLICKING HERE. Any coverage discussed is not guaranteed. Contact us today to go over your specific needs and we are happy to help you find a policy that works for you and your budget!
