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Final Expense

What Is Final Expense?

Final expense insurance, also known as burial insurance, is designed  to cover the bills that your loved ones will face after your death.  These costs will include medical bills and funeral expenses. Final expense insurance is also known as burial insurance. 

A final expense policy – also called burial insurance, funeral insurance, or end-of-life insurance – gives your loved ones a sum of money upon your death that can be used to cover any expenses you leave behind, such as medical bills and funeral costs. 

How Much Does a Funeral Cost? 

Funeral costs can vary depending on the type of service you select (traditional burial or cremation), the funeral home you select and your geographic location.

Below is a breakdown of expected costs associated with a funeral service:

  • Professional Service Fee - $2,000
  • Transfer of remains - $310
  • Embalming & Preparation - $695
  • Funeral Viewing & Ceremony  - $495
  • Casket - $2,395
  • Funeral Transportation - $320
  • Memorial Package (Programs & Guest Book) - $155
  • Cemetary Costs (Plot, Gravestone etc) - $2,500
  • Obituary  Fee - $100 - $600
  • Flowers - $200 - $400

and more...

Who Needs Final Expense?

Final expense insurance is permanent insurance – it doesn’t expire  (as long as premiums are paid) and it carries a cash value over time.  Because the death benefit of the policy (typically $5,000-$30,000) tends  to be less than the benefit of traditional insurance, the premiums tend to be more affordable for those on a fixed budget. This makes it an attractive option for seniors looking to cover their end-of-life expenses.

This type of insurance isn’t just for seniors. Anyone concerned about  leaving their loved ones unprepared when they pass should consider  taking out a life insurance policy on themselves. Getting multiple  quotes – including a final expense quote – can help you determine what  type of life insurance is best for you.

How Much Does Final Expense Cost?

The exact cost of your final expense will depend on your age. Unfortunately, the older you are,the larger  the premiums. This is because insurance companies take on more risk when insuring older folks, given the fact that they’re statistically closer to death. If you buy final expense insurance when you’re 45, you’ll pay  less each month than if you wait to purchase until you’re 75. 

Once a Final Expense policy is in force the premiums are locked in at that rate for the rest of your life. 

Final Expense rates are very affordable and be customized to meet each individuals needs.

Call today for a free quote!