Learn about Life Insurance for Burial Expenses Only

Life insurance isn't just about leaving a large sum of money to loved ones; it can also be specifically tailored to cover burial expenses. This type of policy is known as final expense insurance or burial insurance. 

If you're considering this option, here's what you need to know.

What is Final Expense Insurance?

Final expense insurance is a type of life insurance designed to cover the costs associated with your funeral and burial. These costs can add up quickly, and final expense insurance ensures that your family won't be burdened with these expenses during a difficult time.

How Does It Work?

Typically, final expense insurance offers coverage amounts ranging from $5,000 to $25,000. This range is usually sufficient to cover most funeral and burial costs, including the service, casket, and other related expenses. When you pass away, the policy pays out a lump sum directly to your beneficiaries, which can be used to handle these costs.

Benefits of Final Expense Insurance

1. Affordable Premiums: Final expense insurance is generally more affordable than other types of life insurance. Because the coverage amounts are lower and the policy is intended for end-of-life expenses, premiums are typically reasonable. Get a FREE Quote.

2. Easier to Qualify: This type of insurance is often easier to qualify for, especially for older individuals or those with health issues. The application process usually involves fewer health questions, making it accessible to more people.

3. Quick Payout: The benefits from a final expense policy are typically paid out quickly, often within a few days of your passing. This ensures that your family has immediate funds to cover expenses without delay.

4. Peace of Mind: Having this insurance in place provides peace of mind. You can rest easy knowing that your funeral and burial costs will be covered, sparing your family from financial stress during their time of grief.

Things to Consider

Before purchasing a final expense policy, it's important to estimate the costs of your desired funeral and burial arrangements. Prices can vary widely depending on location and choices, so understanding these costs will help you select an appropriate coverage amount.

In summary, final expense insurance is a practical and affordable way to ensure that your burial costs are covered, without placing a financial burden on your loved ones. If this type of coverage interests you, speaking with an insurance agent can help you find a policy that fits your needs and budget.