LIFE SOLUTION

Final expense Insurance

What you should know about final expense insurance

  • Final expense coverage provides a whole life term insurance plan death benefit that can help cover the costs of your funeral or memorial service and cremation and/or burial expenses.
  • Policies can also be designed to cover final medical expenses, valid debts, and tax obligations.
  • When you buy final expense insurance, you don’t need to worry about saving money in a separate account to pay for your final expenses.
  • You can have peace of mind knowing your loved ones won’t need to worry about how to come up with money to pay your final expenses at a time when they are grieving.
  • Final expense insurance is whole life insurance coverage, designed to provide protection for your lifetime, as long as premium payments are made to keep the policy in force.
The Average Funeral Cost
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Final expenses are the costs that arise at the time of a person’s death. This includes bills associated with final medical expenses, funeral or memorial services, and the price of burial or cremation. The average burial in the United States today costs approximately $9,000, and that cost does not include funeral or final medical expenses.

Final Expense Insurance is a whole life insurance policy that is designed to pay off the expenses families face upon the death of a loved one. This type of insurance ensures your loved ones aren’t saddled with debts that can be financially troubling after you pass.

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HOW DOES FINAL EXPENSE INSURANCE WORK?

Final expense coverage is a life insurance policy that you purchase for a specific dollar amount (“face value”). You pay premiums periodically to keep the policy in force. If you die while the policy is still active, the insurance company pays the death benefit to the funeral home or individual(s) you named as the policy beneficiary(ies).