Final expense insurance is anybody’s ultimate protection in retirement. It is a type of insurance designed to cover your expenses in the event of your untimely demise. This way, costs like burial fees and plot rents won’t be a burden on your loved ones.
Final expense insurance agents like TR King Insurance Marketing can be intimidating. After all, between rising HMO costs, final expense insurance might be the last thing on your mind. However, before you dismiss the idea of final expense insurance, here’s how it can help you.
Final expense insurance—sometimes called funeral insurance—is a type of permanent life insurance designed to cover expenses that occur in the event of a death. These expenses can range from medical bills to funeral and burial costs.
Unlike term life insurance, permanent life insurance does not expire and is more expensive per unit of coverage. This means that your final expense insurance policy can cover you as long as the premiums are paid.
Final Words on Final Expense
Final expense insurance is perfect for term life policyholders. In the event they outlive the term of their life insurance, a final expense policy can help alleviate the costs brought about by medical bills and funeral expenses.
Final expense insurance can also safeguard your loved ones if they decide to pay for your funeral expenses in a lump sum. Depending on actual funeral costs, your final payments will be covered no matter what, and your family might even receive money left over from the policy.
Sudden deaths can cause expenses. If you and your family are unprepared, your savings can be part of the casualties. It is essential to consider the peace of mind that final expense insurance can bring.