How to Determine What Coverage Amount You Should Take Out With Final Expense

Final Expense Insurance Coverage

Factors to look at

One way to determine how much coverage you need is to think about what expenses your loved ones would need to pay if you don’t have final expense insurance at all. Every person’s financial situation is different. You may have enough of your own savings to cover all your debts and funeral costs. In that case, you may only need a policy with a smaller death benefit. But on the other hand, it could be argued that the more conservative choice is to go for the policy with the largest death benefit.

Ultimately, the decision is up to you, but before you decide, make sure to review every debt, loan, etc. that can be handed down to your loved ones.

Your debts

One of the most important aspects of final expense insurance is the freedom it comes with. Despite the term being used interchangeably with “burial insurance,” it’s not limited to just covering costs for burials, cremations, or funerals. Your beneficiaries can use this to pay their own debts, which is especially helpful if they rely on you financially. 

They can also choose to spend the death benefit as they please, not necessarily using it for paying off debt. This includes vacations, a new car, or even a down payment for a house.

Overall, the death benefit provides some financial breathing room for the ones you love and care about.

Let us help you

Deciding upon an insurance policy is a major choice to make. To do it on your own can be an overwhelming task because your funeral is likely far from the only thing on your mind. You’ve got bills to think about and your family’s financial wellbeing. That’s why we are here to make this process easier with 35 years of experience under our belts. 

If you have any other questions about deciding on final expense insurance, please call us today at 1-877-674-0236. 

Get a free Quote


Products and services are provided exclusively by the providers. Descriptions are for informational purposes only and subject to change. Insurance plans may not be available in all states. By submitting your phone number, you are giving Final Expense Direct permission to communicate with you via phone call, automatically-sent text message, and/or email.

We are not connected with or endorsed by the United States government or the federal Medicare program.