Insurance of any kind is optional. But sometimes, what started out as optional becomes the only logical choice. And final expense insurance is no different. Final expense insurance is the way out of burdensome costs that your loved ones have to cover. It’s helpful in other ways, too. Here, we will look at some reasons why you would need this.
You’re daunted by funeral costs
You may realize that you need final expense insurance when seeing how much you would have to pay out-of-pocket for your funeral. Funerals cost thousands of dollars because they’re made up of components that amount to thousands of dollars on their own.
The average funeral costs $9,000. That’s not an all-in-one large purchase. It’s the culmination of all the individual costs. For instance, you’re paying for the casket, service, minister, pamphlets, hearse, vault, gravesite, staff, flowers, embalming, and many more in addition to the mandatory funeral home fee. It adds up.
What this does is reduces the amount you can personally give to your loved ones after you pass. But final expense insurance fixes this issue because they can receive everything you leave behind and more if your death benefit is large enough.
You and/or your loved ones have racked up debt
The beauty of final expense insurance is that the money is both untaxed and can be used for any purpose. What you see is exactly what you get. There is a solid chance that your loved ones have debts of their own. The death benefit can at least partially resolve those issues.
You have conservative habits
If your personality lends itself to making as many provisions as possible, then this is for you. No matter how much or how little you have, you take the safest road because you realize that every bonus counts.
You can’t qualify for anything else
If you’re in both situations mentioned before, and your situation is so severe that most life insurance policies won’t consider you, then that hopelessness only exacerbates the problems that will follow you to your grave.
Final expense insurance doesn’t discriminate. In fact, there aren’t any medical exams. That’s why the guaranteed issue final expense insurance exists. You can’t be turned down, but the caveat is that you’ll pay higher premiums for a smaller death benefit. Despite this downside, it still gives you thousands of dollars that you didn’t have before.
We can help you get through this
At Final Expense Direct, we know how to find you a final expense insurance policy. No matter the reason why you need it, we can help. To get guidance from trained professionals, call us today at 1-877-674-0236.