Final expense is a type of life insurance policy intended to cover different end-of-life costs. Many people use the death benefit from a final expense policy to cover expenses such as credit card debt and medical bills. Purchasing a final expense policy is a great option if you’re looking for a life insurance policy that will be affordable yet provide a death benefit for your loved ones.
Final expense policies are an excellent way to plan for the future, especially if you think you may leave behind some costs. Like other life insurance options, final expense policies have a beneficiary that will be given the death benefit if the death occurs while the policy is still valid.
One of the most popular ways to spend the final expense death benefit is funeral costs. Funerals and burials can be expensive, so having a final expense policy is a great way to provide for those costs. If you’re worried about the costs you might leave behind for your loved ones to pay, then selecting the right final expense policy can provide you with some peace of mind.
The cost of final expense policies
Most final expense policies are smaller than other life insurance options, which means they’re less expensive. While you will pay less monthly, your beneficiary will also be receiving a smaller death benefit. If you’re wondering how large your final expense policy should be, it can be helpful to think about what your beneficiary will be using the money for. If the money is used for your funeral, then you should think about the budget of your funeral arrangements.
Enrolling in final expense
Many different insurance companies sell final expense policies. If you want to enroll in a final expense policy, we can help you through that process. We know what’s required to help our clients select the best policy possible and walk them through enrollment. At The Memorial Insurance Group, you can be confident that you’re working with a team of professionals ready to assist you on your insurance journey.
If you think that final expense insurance is the right choice for you, feel free to reach out to us today! We can provide you with further information and talk with you about your options for enrollment. We look forward to hearing from you and partnering on your insurance journey!