We all want our families to be financially secure when we pass away. We pay into life insurance, retirement funds never thinking that a good portion of that money will go into the cost of laying you to rest. The average funeral in the costs between $7,000 to 10,000 and does not include everything. Just the casket alone could set your family back $10,00. Cremations are not cheaper costing on average $6,000 to $7,000. Rather than your final arrangements taking a large chunk of money your family may need to live on.
The Benefits of Final Expense Insurance
In addition to life insurance, no matter what age you are you can purchase final expense insurance. Your family will have to make all the hard decisions at a time when they are grieving, stressed and not thinking straight. By having final expense insurance you can ensure the following before you pass away:
- Reduces Stress: When you purchase final expense insurance you have the time to look at your options, such as a funeral home based on the services they provide and not need.
- Personalize Your Plan: You can explain to your loved ones that you have final expense insurance and will leave plans for your beneficiary so they know your final wishes.
- Prevents Overspending: It is hard to think of a budget and make snap decisions when you are grieving. People often spend more because they know so little about funerals.
- Immediate Payout At Time Of Death: Funds are released right away and can be designated to the funeral home or your beneficiary.
Final Expense Insurance Guidelines
The average coverage for final expense insurance is between $5,000 to $10,000 and can go as high as $50,000 to cover the cost of your funeral. The guidelines include:
- You can be over 50 and still qualify.
- The average premium is $50 a month.
- Cash benefits go immediately to your beneficiary or the funeral home as you choose.
- There is no expiration date as long as you make your premium payment.
- Your premiums will not increase.
- You do not need to get a medical exam.
- Depending on the policy, extra benefits are provided if you are killed in an accident.
For many people getting burial insurance in addition to their other life insurance gives them the peace of mind that their loved ones are spared the stress of having to make all the last minute decisions during a time of pain and grief.
For almost 20 years the independent agents of Asurea have worked with families to make sure you are protected. When it comes to final expense insurance or as it is often called, “peace of mind” insurance, we have over 80 insurance companies that we work with to give you what you need, what you want and at an affordable price. So call us today or check out our website and see how you can save your family from financial hardship when you pass away.