What is final expense life insurance?
Final expense life insurance can help protect loved ones from having to pay many out-of-pocket costs associated with your passing. It can help pay for your funeral costs or other end-of-life expenses. It can also pay any outstanding credit cards and medical bills so that your loved ones don’t inherit any debt.
End-of-life issues are very difficult for most people to talk about. Just thinking about those circumstances may cause an emotional roller coaster, but there is more at stake than just dealing with the pain and heartache. The resulting high final expense associated with death is important to speak of; especially since they could have a substantial financial impact on those you love.
As of 2016, the average North American traditional funeral costs between $7,000 and $10,000. This includes fees for death certificates, caskets, preparation and embalming, a memorial service, transportation, a burial plot, a gravesite, a headstone, a burial or cremation service or alternatively.
Final expense life insurance is very affordable and will put your mind at ease knowing that your loved ones will not have the burden of paying these costs out-of-pocket.