Final expense life insurance is usually sold to mature adults, usually around 45 – 85. The insurance policy is taken out with the idea of paying for a funeral, burial or cremation, and other related costs. Because the average funeral now costs between $10,000 and $20,000 or more, and a Cremation with a simple service around $5,000, it is important to plan ahead for these costs. On top of your normal monthly bills, you could be leaving behind a lot of unpaid expenses that could be devastating for your family when you pass.
While most people don’t like to talk about their death, it is important to plan for it. Final Expense life insurance will protect your loved ones from having to pay these costs out of their pocket, on their credit cards, having car washes, dipping into savings or trying to sell possessions in a hurry. It protects them from losing out on money they could have had without having to sell possessions below their true value!
You WILL have final expenses one day, this is a guarantee, just the date and time are unknown. The good news is that there is a smarter and more affordable way to cover these costs of one’s final expenses. This is with final expense insurance.