For lots of people, there never seems to be a good time to think about one’s passing. After all, it is a rather morbid subject that can leave individuals down and blue. However, things have changed quite a bit over the past six months or so. COVID-19 has infected millions of people in the United States. The novel coronavirus was responsible for over 130,000 deaths in the country at last count as well.
The pandemic has shown everyone that humans are susceptible to diseases, and perhaps more so now than ever before. Tons of people are weathering the storm, so to speak, inside their homes. They are sheltering in place and only leaving when absolutely necessary. Meanwhile, others carry on with their lives as though the entire world isn’t dealing with a health crisis.
What Is Final Expense Insurance?
Regardless of which category a citizen falls under, they may want to start considering that their death could be an outcome of this situation when everything is said and done. In doing so, they can plan ahead in case the big moment arrives. Final expense insurance can help them with the endeavor.
This type of coverage is commonly called peace of mind insurance. It is designed to take care of the bills that family members tend to face following a loved one's passing. The plans are typically available with benefit payout amounts of between $10,000 and $25,000. However, applicants can sometimes find policies that are worth more.
What Kind Of Expenses Arise After One's Passing?
Many times, people become patients in hospitals and receive medical care before they die. For instance, an individual with the novel coronavirus may be put on a ventilator before succumbing to the illness. Those types of services usually come with steep price tags, which don't just disappear when death occurs. Instead, collection companies hound surviving relatives for payments day and night. Additionally, families have to come up with the money to bury their loved one.
According to Parting.com, an average North American funeral runs between $7,000 and $10,000 today. Who knows, there could even be some credit card debt thrown in the mix. Regardless of the final expenses, the beneficiary can use the payout to prevent themselves and other relatives from experiencing financial hardships from trying to pay the bills.
Is It Hard To Qualify For Final Expense Insurance?
The application process for final expense insurance varies from one insurer to the next. However, in many cases, companies do not require candidates to take medical exams. Instead, individuals only have to answer some questions over the phone or online to qualify. The entire procedure is easy and hassle-free. So what are you waiting for? There is too much uncertainty surrounding COVID-19 to just sit back and do nothing. Protect those you love from financial distress after your passing with final expense insurance.
Visit us to get a final expense insurance quote today.