What is Final expense insurance?
Final expense insurance can cover expenses which could include medical bills, funeral expenses and bills that are due. Final Expense insurance is also known as burial insurance. A bare-bones funeral can cost thousands of dollars.
Why should you consider purchasing a Final Expense policy? If you only have term insurance or a policy that will only cover your present financial responsibilities a Final Expense policy will relieve your loved ones the immediate cost of a funeral.
How Much Does a Funeral Cost? The average funeral costs between $7,000 and $12,000. This includes viewing and burial, basic service fees, transporting remains to a funeral home, a casket, embalming, and other preparation. This does not included any medical or unpaid bills.
There is a special lump-sum death benefit available to the family through the Social Security Administration which is $255.
For a healthily 61 year old female in California she could get a $10,000 policy for as low as $32.73 a month or $385 a year.
No. Different companies offer various plans with a range of premiums. There are 3 types of Final Expense Policies:
Yes, final expense policies are whole life policies that gain cash value over time.
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