Final Expense Insurance
Don't leave bills, leave memories.
Have You Taken Steps To Protect Your Family?
Why Final Expense
Imagine reaching the later stages of your life without having secured a life insurance policy to safeguard your loved ones in the event of your passing.
As time goes on, it becomes increasingly challenging to qualify for reasonably priced coverage, leading to feelings of discouragement and a desire to give up.
However, there is a solution: final expense insurance. This particular type of insurance is specifically designed to provide coverage for any outstanding debts or bills that may be left behind after you pass away, ensuring that your loved ones are protected from any financial burdens.
Know Your Policy
Individuals question the necessity of life insurance, when they already have it through their employment. Many individuals perceive their employer-provided life insurance benefits as sufficient and see no reason to seek additional coverage. I thought the same way and didn't possess an individual life insurance policy, believing that the coverage my group insurance provided was enough. Then I retired and found myself without any coverage.
I also heard horror stories of people who died when they were between jobs or who died with no employer benefits. It was really sad to hear these stories. The time is now to speak with a life insurance agent and have a frank discussion. Know what you have!
Low Cost Funerals
Funerals vary depending on the cultural backgrounds of the individuals they honor. Factors such as cultural background, race, religious beliefs, and financial circumstances can influence the preference for a particular type of funeral.
For individuals facing financial limitations, the high cost of funerals can pose a challenge. One of the best things you can do to protect your family is to contact a life insurance agent and discuss the options. Don't wait until it is too late. Protect your family. And above all write down your wishes, make them known.
Military Funerals
"Under the current regulations, VA pays for burial and funeral expenses on a reimbursement basis, which requires survivors to submit receipts for relatively small one-time payments that VA generally pays at the maximum amount permitted by law." The above is quoted directly from the VA. website. While the VA does provide financial assistance for burial expenses, it's important to understand that their coverage is not comprehensive. While they do offer support for certain aspects of burial costs, it's likely that they will only cover a portion of the expenses associated with the funeral. The VA will pay some of your burial but probably none of your funeral.
About Final Expense
A burial insurance policy, referred to as final expense insurance or funeral insurance, is to provide financial assistance to your loved ones after your death by covering the funeral and burial expenses. This type of insurance is the result of the high costs of even the simplest funerals, which can amount to thousands of dollars. They provide a smaller benefit, usually capped at $25,000, and focused on covering funeral expenses, burial costs, and potentially some outstanding bills.