Menu
“It’s Me Gavin” says “when I’m out exploring in nature, I can enjoy the hike and life’s adventures knowing my family is protected”…Losing a loved one is never easy. It becomes even more complicated when unexpected bills are passed on to family members while they grieve their loss.
When you add up burial services, the funeral itself, and the vault, it can cost between $8,000 and $10,000. A funeral with cremation costs less, but you’ll still pay about $6,000 on average. With a final expense policy, you can rest easy knowing there will be money to pay for your loved one’s funeral or other expenses.
Typically, final expense policies are purchased by people 50 and older who want to manage funeral and burial costs for their loved ones. You can also buy insurance yourself, with the goal being to help your family after you pass away. They’ll have an easier time surviving their loss and moving forward if they have the funds to pay medical bills, credit card debt or funeral costs.
If you’re over the age of 85, you’re typically ineligible for final expense insurance because you’re considered to be a high risk to insure. Other than that, there are no strict eligibility requirements.
You can anticipate about $9,000 in total funeral expenses when you pass. But you should consider other costs, too. Unfortunately, some people die with substantial amounts of unpaid debt.
Final expense insurance is a way to cover your loved ones’ financial areas once you’re no longer around. Plus, it forces you to discuss difficult things like death and funeral planning. If you want your ashes spread in a specific place, your family can carry out your wishes.
The cost of a final expense policy depends on your location, age, and health. Certain burial insurance plans have options for paying your premiums. You can pay them monthly or annually. Policyholders often appreciate the fixed premiums, and the death benefit payout (although relatively small) will go to your beneficiary as long as you make payments.
The coverage amount, much like the premium, depends on your age and health. People insure themselves for $10,000 to $20,000 on average. However, coverage may be available for as little as $1,000 to $2,000.
Sadly, many folks don’t have enough savings to cover the cost of their funeral. Death is expensive! It’s more than people think, and it requires some advanced planning.
If you’re concerned about paying for your or a loved one’s funeral, you can benefit from final expense. One of the best things? It’s easy to get approved. No medical exam is required!
We’re your trusted partner for life and can provide your family security, comfort, and reassurance. So, get started today. Protect your loved ones from taking on unwanted financial burdens — call for a quote or to get your questions answered!