Final Expense

WHAT IS FINAL EXPENSE INSURANCE AND WHY IS IT IMPORTANT?

The unexpected death of a loved one is traumatic, but it leaves those left behind with important questions that must be answered.

• How do we handle immediate funeral or cremation costs?
• Are there any unpaid bills?
• Are there and medical fees?
• Is there any debt?
• And any other items that follow death.

“The average cost of a funeral in the U.S. has increased by 41% during the last 14 years to an average of $7,880 and cremation costs also now average between $3,725-$5,000.”

There is a popular misconception that one life insurance policy will handle all the items following death. This thinking can leave your loved ones short of needed income at the time of your death. Therefore, it’s important to understand the differences between traditional life insurance and final expense.

The traditional life insurance policy is typically purchased with the goal to set aside money for providing a measure of financial security for your family upon your death. It helps them meet the financial needs previously covered by your income.

Final Expense plans are designed to be simplified issue, small death benefit, whole life insurance products designed to help those left behind to cover immediate funeral costs, unpaid bills, medical fees, debt, and other items that follow death. The key difference is the immediacy of receiving benefits after death to cover expenses.

Key Features Of Final Expense Insurance:

• Designed to be an expected and controlled cost that is paid until the time of death.
• Will typically have a monthly cost less than the average phone or cable bill.
• Plans are easy to understand and offer permanent protection for individuals on fixed budgets.
• Involve limited underwriting (if any).
• Pays the death benefit to the beneficiary typically within days, so the money is available to be used when it is needed the most.

“Things like a casket or urn, flowers, a headstone and burial plot, plus printed programs and musicians for a memorial service are all additional costs to a funeral home’s basic packages”

It’s never been easier to purchase Final Expense Insurance. However, the premiums increase significantly every year you wait.

Contact us now to set up a no-obligation appointment to address your concerns.