Final Expense
Final expense insurance is an insurance policy used to pay for burial expenses and funeral services when the named insured dies.
There are many expenses that follow when a loved one passes away. The average cost of a traditional funeral is $8,000-$10,000. Final expense life insurance may help cover those expenses, which takes some of the financial burden off of your loved ones' shoulders and leaves them with room to process loss without the stress of paying a funeral bill.
Final expense life insurance often pays out benefits faster than some other types of policies, which can be key during the urgency of planning a funeral. When you know there's a plan in place that may help pay for your end-of-life arrangements, you might also feel more freedom to choose how you'd like to be remembered.