If you’re a working adult, with a family of your own, you already know that you have a lot of responsibilities. But normally, when you think about the future, you’re mostly concentrating on putting money away for retirement savings or college for the kids. You’re probably not thinking about your own mortality, or what will happen to your family should you pass away.
It’s understandable why you’d be reluctant to dwell on such topics. In truth, however, it’s not morbid to wonder about how to handle what happens after you die. In many cases, especially if you’re thinking of Final Expense insurance, you may be doing the right thing for yourself and your family. But why?
Life & Debt Go On
Whatever you believe about the afterlife, one thing about death remains the same; you will leave people behind who must continue their own lives. However, while your own death is “not your problem,” it now is for the people who survive you. If they loved you and cherished you, they will need to grieve and a funeral is the first, crucial step in this recovery process. Unfortunately, it is also not free, and it is not cheap. There are many different factors to consider, like:
- Coffin/Cremation Urn
- Embalming/Body Preparation
- Funeral Ceremony
And in the 21st century, an average quality funeral can run $10000 or more. You, as the deceased, may not have to worry about who will pay for this. But does this mean that this is a problem you want to saddle on those you leave behind? Are you willing to let people, who are traumatized by the loss of you, now have to deal with additional debt that your passing drops in their laps? Or do you want to make sure that the people you love have the best possible chance of dealing with their grief and getting on with their lives? If you do care, then final expense insurance can be a key part of this puzzle.
How It Works
Final Expense insurance policies can be thought of as burial/funeral insurance. These are policies that have been created specifically to deal with the exact details and demands that come from saying goodbye to someone dear. While life insurance policies are designed to pay out a certain amount of money on death, Final Expense insurance focuses on financing the immediate aftermath of death.
This means that if you’re willing to take the time to think about your funeral, and what kind of logistics it will need, you can plan ahead. Talk to a funeral director, get the numbers for the type of funeral you desire, and then use those numbers to help figure out what your budget requirements are. A Final Expense insurance policy can then step in to start taking care of things.
Easier To Achieve
Final Expense insurance policies have the benefit of being not just more flexible than standard life insurance, but even easier to get. Whereas life insurance policies usually command higher amounts that need higher rates, Final Expense policies are lower. Where life insurance may have barriers like pre-existing conditions that bar qualification, Final Expense policies often have ways to get around these hurdles. They even have different payment plans, from lump sum to traditional monthly payments, to grading policies that have better rates and payouts as time passes.
Living Legacy is ready to help you find the Final Expense policy that’s right for you. Contact us today, we have experienced professionals ready to listen to your needs, assess your individual situation, and then work together with you, to find the Final Expense policy that will give you the peace of mind you and your family deserve.