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What is Final Expense Insurance

Final expense insurance is a form of life insurance that has a small death benefit and lower overall costs. It is also easier to qualify for final expense insurance, making it a great option for people who need coverage immediately. This is what you need to know about final expense insurance policies.

Final Expense

Final expense insurance is also known as burial insurance and it can help your loved ones pay for death related expenses, such as burials and cremations. The death benefits are small, but this also means you don’t have to pay as much in premium payments. This means final expense insurance can prove to be a useful supplement for a term or whole life insurance policy.

Final Expense Death Benefits

With final expense policies, the death benefit will likely be $20,000 or less. Some plans offer death benefits as high as $50,000, but they are rare. This is because insurance companies expect the average burial or cremation to cost anywhere from $5,000 to $15,000. With this in mind, it is also important to note that final expense payouts do not have to be spent on burial or cremation costs. In fact, the beneficiaries are free to do whatever they like with the money.

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Why Get Final Expense Insurance

As mentioned previously, final expense insurance can prove to be a helpful supplement to your current insurance plan. Some people don’t even have life insurance, instead relying on their own savings to keep their loved ones secure after they pass. If this is the case for you, final expense may be a good idea, as it will help your family take care of any costs related to your death, such as medical bills or funeral expenses.

Start Shopping For Final Expense Insurance

Ensure that your end-of-life costs are covered by investing in final expense insurance now. One of the knowledgeable representatives at Rothrock Insurance Solutions can help you get started. Call us at 888-828-4060 now to get started with a free quote on final expense insurance.