What is Final Expense Life Insurance?
Losing a family member is tough, however sometimes finding out how much the funeral will cost can be even more difficult. Over the last 10 years funeral costs have doubled as an average across the nation. The national average cost of a funeral in 2020 was $8,530.
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If you are worried about how your family, will be able to afford this - Final Expense Life Insurance is the answer. Final Expense insurance policies are the most cost efficient way for you to cover all of your burial costs, cremation costs or to even help with any of the other costs that you family will have to overcome when you pass.
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Final Expense life insurance is a whole life insurance policy that is designed to cover ALL of your final expenses. These life insurance policies are very easy to qualify for and typically don't require any medical exams. Everybody is able to qualify for this program - with affordable monthly premiums.
How can Final Expense insurance work for you?
Cover Burial and Cremation Costs
Funeral costs can be detrimental to your surviving family members if it is not planned for properly. Without Final Expense life insurance most families are left with maxing out their credit cards, asking friends or family to help, or relying on community funding from their local church or a GoFundme account.
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When you have planned correctly, your family never has to experience the pain of being in this situation. It can all be covered for a low monthly premium, and a little bit of forward thinking.
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Cover Years of your Social Security Income
Most people are not familiar with how their social security works when they or their spouse dies.
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In most situations the largest of the two social security payments will be transferred to your surviving partner. While this is great, it is important to remember that they will also lose the social security benefit that they were receiving.
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Final Expense life insurance can completely replace this missing income for years, to help give your family time to grieve as well as helping them with the inevitable bills that follow anytime someone passes.
A token to leave behind for your family
While we all want to be able to leave behind a legacy for our family or for our children, it's important to understand that's it's not always possible to create this. But this doesn't take away from how much a life insurance policy can positively impact your family. Even if it is the smallest amount - you would be shocked to know that $5,000 can carry a family through the toughest times and help them stay at peace while it seems everything else around them is falling apart.
