Final Expense life insurance will help cover your expenses after you have passed, including your medical bills, credit card debts, and even your funeral costs. Funeral costs alone average between $8k-$10k these days! The average family doesn’t have $10k unallocated to take care of funeral costs, and on top of medical bills and other expenses, many struggle to take care of their loved ones’ final wishes once they pass. Final expense insurance ensures that your family will be able to carry out your final wishes, and it allows you to rest peacefully knowing that your loved ones will be able to carry on after you’re gone.
Final expense means just that – your final expenses. This form of final burial insurance will handle all of your final expenses, not just your funeral, in the event of your passing. Unlike other life insurance policies, this insurance is paid out almost instantaneously, allowing every final expense to be taken care of by your burial insurance policy, not reimbursed later on. With reimbursement-type plans, each final expense may need to be paid for out of pocket only to be reimbursed sometimes months later.