Final Expense Insurance
Final Expense Insurance allows the family to feel secure knowing that the funeral and burial costs and arrangements are already taken care of should a loved one pass away.
What Is Final Expense Insurance?
Final expense insurance can save your loved ones a lot of money and stress at the time of your death. With the high cost of funerals, the last thing anyone wants to think about after they lose a loved one is paying for and planning final arrangements. Final expense insurance can help ease that burden by paying for many of the costs associated with funerals. In this article, you’ll learn how final expense insurance is different from traditional life insurance, who can buy it and how much you should buy.
Final Expense Insurance vs. Life Insurance
Unlike the high face value most regular life insurance policies contain, final expense insurance is written with a much lower face value and is intended solely to take care of the cost of a person’s final arrangements. A regular life insurance policy ranges from $250,000 to $1,000,000, while a final expense policy is typically purchased for $5,000 to $50,000.
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