A Final Expense Insurance plan helps your bereaving family and loved ones deal with the loss rather than worry about the final expenses. It can cover expenses such as the funeral, memorial, embalming, casket, and burial/cremations costs after your death. Depending on how much the death benefit of the policy is, medical bills can even be covered. Or, if all this is covered and there’s still money left over, your beneficiaries can use the rest as they please.
After your death, the insurance offers a credit amount to the designated beneficiaries. As mentioned above, this amount is referred to as a death benefit and can range between $2,000 – $50,000.
Final expense insurance will help people in numerous ways by offering them peace of mind. You give your family immediate access to funds for covering your final expenses.
All in all, a final expense insurance offers:
The final expenses of your death can be a lot for your bereaving family to deal with. Hence, making the right preparations to remove the burden from their shoulders is the best you can do in your life.