CUNNINGHAM INSURANCE SERVICES
CUNNINGHAM INSURANCE SERVICES

Final/Funeral Expense Insurance

 

Planning for the inevitable is something many put off until it is too late. Grieving families certainly don’t need the additional burden of how they are going to pay for the additional unexpected bills of travel and funeral expenses. Planning ahead and providing for these expenses now will give you the peace of mind that your family will have the necessary means to meet these needs when the time comes.

 

Final expense insurance can be a tough topic to discuss. Anyone who has lost a family member or a loved one knows how difficult that loss can be. At such a sad time, emotions can be overwhelming, but the reality is that you will quickly learn how hard of a time it can be financially as well. The cost of a funeral and other final expenses can be enormous, and the last thing your family needs to worry about in such a difficult time is funeral expenses. Planning ahead to find a policy that fits your needs is solves that problem.

  

Having a final expense life insurance policy can save your loved ones a lot of money and stress at the time of your death. Final expense insurance can help ease that burden by providing those left behind the means and the ability to pay any remaining expenses.

 

Burial protection policies only cover the cost of a burial but a final expense insurance policy is more flexible. It will let you fit the policy to your coverage needs and you choose the amount of coverage you want.  

 

Some final expense costs include:

  • Funeral Service
  • Cemetery Plot, Headstone and Engraving
  • Cost of Casket
  • Wake/Visitation
  • Minister
  • Transportation
  • Legal Fees, probate costs
  • Physician and Hospital bills
  • Outstanding debts
  • Mortgage pay-off, car loans, credit card balances and other personal debts

 

Final/Funeral Expense Insurance - The Benefits

 

  • Your coverage is for a lifetime
  • You won't need a medical exam
  • Your premiums will never increase
  • Your policy will grow cash value

 

Can Anyone Buy It?

 

Almost anyone can buy final expense insurance. Usually it is purchased by those who are elderly and do not have a regular life insurance policy in place. Most final expense insurance policies do not require underwriting or a medical exam. Because of the low face value of these policies, they are less expensive to purchase than regular life insurance.

 

Final Expense Insurance vs. Life Insurance

 

Most regular life insurance policies have a high face value, while final expense insurance is written with a much lower face value and is intended for the sole purpose of final arrangements. A regular life insurance policy usually will range from $100,000 to $1,000,000 or more, and a final expense policy is most often for amounts of $2,000 to $50,000. Funeral expenses vary by region and differ from rural to urban areas. Final expenses can be as low as $5,000 or more than $25,000.

 

Final Expense Insurance Is Affordable 

 

Burial insurance is usually written with a much lower face value than a regular life insurance policy. The biggest benefit of this is the lower cost that most seniors will appreciate. The goal of burial expense insurance is to provide a source of quick funds to pay for burial/funeral expenses and final medical costs. 

 

Contact me to get a quote.

 

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