No doubt you have seen commercials on TV or heard them on the radio advertising Final Expense life insurance. Let’s be honest – this is not a popular topic at the Holiday feast table with your family. None of us want to talk about what happens after we are gone, but the reality is that lack of planning can place serious financial burdens on your family.
Do you know what the average cost of a funeral is? – Your family will have to come up with anywhere from $10,000 – $20,000 on the low end. Even a simple cremation can still run close to $10,000. Funeral homes over the years have gotten wiser and realized that many families are choosing cremation to save money – and therefore, they have raised the rates to continue to run a profitable business. There really is NOT a cheap burial option nowadays!
How often do you hear about tragedy striking a family, and the next thing you see is a GoFundMe online asking for donations, or the members of the family doing a car wash to raise money for the funeral? In a time of grief, does a family really need the extra anxiety and stress of how to pay for a proper funeral?
Final Expense insurance can eliminate that stress and anxiety. You generally don’t have to worry about any health issues that you have (a few exceptions apply). The coverage can pay for funeral and final expenses while also generating a cash value inside the policy while you are alive. In some cases, you can also access cash for chronic and terminal illnesses as well (death benefit is reduced accordingly if not paid back).
You are never too old to obtain Final Expense coverage. While it is true that the older you get, the more expensive the coverage gets, the sooner you lock in your age with a Final Expense insurance policy, the more money you save in the long term, and the sooner you have peace of mind for your family and those you leave behind.
Want to get more information? Simply fill out the form below, and one of our experienced life insurance brokers will contact you. – Brian Schilling, VP of Life & Health Insurance