Why You Should Look Into A Final Expense Plan

Why You Should Look Into A Final Expense Plan

When it comes to end-of-life planning, many people find it too overwhelming to discuss. But leaving your loved ones to make all of the decisions after your death can fill them with anxiety and dread. When you consider the inevitable, that everyone is going to die someday, the more choices you make now, the better equipped your family will be to handle the expenses when you pass. 

The Costs Add Up Quickly

Funeral costs can add up quickly, even if you go with budget-friendly options such as cremation. Without a final expense plan, families can struggle to cover even the basics. This can lead to sacrifices that your family should not have to make to cover your funeral expenses, such as:

  • - Taking out a second mortgage on their home

  • - Cutting into college tuition fees

  • - Picking up an additional job 

  • - Extending their credit to the maximum

Death can bring about a range of emotions, from anger to sorrow. Adding financial stress to your family on top of it all can be heartbreaking. By planning ahead, you can support your family through all of it, just when they need you the most. 

Five Questions That Seniors Have About Final Expense Insurance

Qualifying for a final expense plan is not difficult. In fact, it’s easier than qualifying for other types of life insurance. Still, there are several important questions you should ask as you look for a policy. 

Does the policy expire? – Final expense policies are not like term life policies. Your policy coverage will not expire as long as you keep paying your premiums. 

Do I have to take a medical exam? – A medical exam is not required in most cases. The benefit amount of many policies are typically $50,000 or less. Coverage is usually determined by the answers to health questions on the application. 

What features are included in the policy? – Different features are offered by different companies. Some offer child riders, support benefits for surviving loved ones, and accidental death and dismemberment. Be sure to review the policy benefits carefully.  

Is it Expensive? – Final expense plans are highly affordable. Even people who have preexisting health conditions will not be turned away from a final expense insurance plan. They are created on an individual basis so you can decide how much you want to contribute. Compare pricing to determine the most affordable policy for your financial situation. 

Choose A Final Expense Plan That Is Right For You

The best way to choose the final expense plan that’s right for you is to shop around. Compare top rated companies online. Compare rates and benefits to decide which one meets the needs of both you and your family. 

A final expense plan can offer something that is priceless for everyone: Peace of mind. If you have any questions about how to find the right policy, contact us. We’ll be happy to go through the process with you so you can leave behind a legacy of joy. 

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