The Importance of Final Expense Insurance

Losing a loved one can be an emotionally challenging experience. When you’re mourning the loss of someone dear, the last thing you want to deal with is unexpected financial pressures. The costs associated with death can average over $8,000. To alleviate this burden on your family when you pass, it’s wise to consider a final expense insurance policy to cover end-of-life expenses.

What Is Final Expense Insurance?

Death-related expenses can have a significant financial impact on your family. Social Security offers only a one-time payment of $255 for burial costs, which is far from sufficient. When considering funeral costs, the average amount exceeds $8,000, accounting for various expenses such as:

•  1) Death certificates
•  2) Memorial services
•  3) Housing the remains
•  4) Transportation of the deceased
•  5) Preparation and embalming
•  6) Use of the funeral home
•  7) Casket
•  8) Headstone
•  9)  Burial plot
• 10) Burial service or cremation
• 11) Flowers
• 12) Printing of memorial cards

Final expense insurance is specifically designed to protect your loved ones from having to cover these costs out of pocket. This policy can also settle any debts you may have incurred during your lifetime.

Cost of Final Expense Insurance

There are different types of final expense insurance policies available. You can opt for a whole life policy that provides coverage for your entire life or a more affordable term policy that covers you until you reach a specific age. Both options come with various coverage limits and premium rates. Our agent at Ocon Insurance Agency TX, can assist you in finding the right final expense insurance policy tailored to your needs.