Maybe Its Time To Think About Final Expense Insurance

Maybe Its Time To Think About Final Expense Insurance

It’s not a topic that anyone enjoys thinking about, but at the same time, having no contingencies can leave your loved ones in a bad position. For some adults, it may be long past the time to think about what will happen when they pass away, and how that will be paid for. One way to plan for this eventuality is to get “final expense insurance,” but what is this, and how can it help in the future?

Planning For The Inevitable

Most people don’t want to think about a funeral, let alone research the details of it, so few have any idea what it costs in the 21st century. The average funeral today ranges between $7000-$10000 depending on size and need. It may be an unpleasant idea for people to consider, but when a loved one passes away, it will cost money, and someone has to pay for it.

Final expense insurance, as it is called, is a very specific form of insurance that, unlike accident or home insurance, is guaranteed to payout. As the name implies, final expense insurance is a form of insurance that will release funds to beneficiaries when someone passes away. However, unlike other forms of insurance, such as life insurance or home insurance, final expense insurance is designed to do only one thing, and that goes into funding funeral arrangements.

Taking Care Of Loved Ones

One of the best things about final expense insurance, if you’re willing to consider it now, is that this shifts the burden away from your loved ones later. Depending on the circumstances of death, grief can be traumatic and even life-altering. This is an emotional and psychological period when your surviving family members will be at their most vulnerable and least organized.

At the same time, arranging a funeral requires a high amount of organization and the ability to make rational decisions. Final expense insurance is one way to shift some of this burden away from loved ones, with specific measures already in place that they don’t have to worry about. In this way, some of the tough decisions have already been made. If you’re willing, you can even plan an entire funeral ahead of time to shift even more of the burden.

Easier Than Other Insurance

Unlike life insurance or some other insurance policies, Final Expense insurance has a broad range for acceptance. Medical exams, for example, aren’t generally required when applying for this. The presence of certain medical conditions is also not necessarily a barrier to getting the policy accepted.

As long as you can keep up with your premiums, the policy is essentially guaranteed. It doesn’t “run out” the way some life insurance policies do. Final expense insurance is, in some respects, easier than others to get and maintain, and you have the peace of mind that comes from knowing that when the time comes, you know exactly where this money is going to go.

If you’re interested in learning more about final expense insurance, we can help. Contact Asurea, and let us explain your final expense insurance options so you can start making some decisions.

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