Final expenses are not easy to talk about, but it is necessary to do so. Funerals can cost $10,000 or more, and this does not include other end-of-life expenses such as medical, legal or credit card bills. Without final expense insurance, these final expenses will fall on your family’s shoulders and strain their finances. But your family doesn’t need to be left with this financial burden: you can provide them with the cost of your funeral arrangements and more with an affordable final expense life insurance policy.
Final Expense Life Insurance Explained
Final expense life insurance is a type of permanent life insurance that covers the costs of your funeral and burial, as well as any outstanding bills. As long as you pay your premiums, your policy will never expire. There are two types of final expense life insurance policies to choose from:
- Guaranteed Issue Life Insurance– You are almost certain to get approved for this type of policy because it provides coverage regardless of health status. These plans are more expensive than other policies, and offer amounts anywhere from $5,000 to $25,000.
- Simplified Issue Life Insurance- You can get this type of policy if you are considered a moderate risk. You will have to provide answers to a medical questionnaire, but there will be no medical exam required for this policy. You can get coverage up to $50,000.
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Advantages Of Final Expense Life Insurance
Putting aside $10,000 dollars or more for funeral expenses is hard for many people to do, especially in today’s economy. Buying an affordable final expense life insurance policy will provide your family with this money. These policies offer peace of mind, and they are easy to get and maintain. The advantages of these plans include: :
- No medical exam– You are not required to undergo a medical exam in order to purchase a final expense life insurance policy, which is beneficial if you have any serious health conditions that would hike up the cost of other life insurance policies.
- Quick approvals– The application process is quick and easy, and coverage begins immediately after you are approved, which can be the same day you apply.
- Lower premiums– Final expense rates can start as low as $20 a month.
- Payment flexibility– You have the option to pay monthly or annually.
- Tax benefits – The cash value of the policy accumulates tax-deferred.
It is not easy to accept the fact that one day you will no longer be with your family, but it is a grim reality. Your family will go through a difficult time, and the last thing they should worry about while grieving is how they will pay for your funeral and end-of-life expenses. You can give them at least financial peace of mind with a final expense insurance policy. There are multiple affordable policies to choose from that you can budget into your monthly expenses, and you do not have to worry about passing a medical exam.
If you are interested in providing your family the financial stability to pay for your funeral arrangements and more, then a final expense life insurance policy is perfect. For low monthly payments now you can make sure your loved ones are taken care of later. Picking a Final Expense Life Insurance policy is an important decision. You want to make sure your family is taken care of when you’re gone without getting tied to a policy that is going to be a financial burden. There are multiple coverage options, some with added benefits. To make the process easier consider using online tools, or speaking with an agent. We have provided the top Final Expense Life Insurance companies in the nation that offer hassle free assistance and the most competitive rates below. Always check multiple sites to make sure you have bargaining power and know the different advantages of each company. Make sure a hard time isn’t made harder by a financial burden, check Final Expense insurance rates today.