Around 2.8 million people died in the U.S. in 2019. Some people died leaving wills and life insurance, but many died without these things. One thing you might want to purchase – before it’s too late – is final expense insurance.
This insurance is a vital policy to have before you die, and here are five reasons you should consider buying a plan.
1. A Funeral Costs Money
One source states that the average funeral costs between $7,000 to $9,000. While some people might have this much money to use to pay for a sudden funeral, others don’t.
If you died without leaving money for your funeral costs, your family might struggle to find a way to pay for your funeral.
So, what is final expense insurance? This insurance is a form of life insurance that provides a cash payout when you die. Your family can use the proceeds to pay for your funeral expenses.
2. It Alleviates the Financial Burdens on Your Family
The second reason you need final expense coverage is to alleviate the financial burdens on your family. If you didn’t leave this coverage or money for your funeral costs, would your family experience a financial burden?
Many families don’t have the funds to use to pay for sudden funerals. If you don’t want your family to suffer financially, provide them with a payout from a final insurance plan. It will help tremendously.
3. It’s Affordable
You can purchase final expense life insurance coverage for an affordable amount. If you would like to know the costs, you can contact an insurance company for a quote.
Before calling for a quote, you might want to learn a few things about the eligibility requirements for getting final expense insurance.
Most insurance companies base the eligibility and rates on several things. These include a person’s age, health, and the amount of coverage they want.
4. Final Expense Insurance Offers a Fast Payout
Another thing to consider is the speed of the payout that it offers. When you die with this type of plan, your family can put in a claim right away.
The insurance company will review all the details and ask for proof of death. Once they do this, they’ll send the money. Your family will have it fast enough to use to pay the funeral home for the costs.
5. You Don’t Have Life Insurance
The final reason you should consider buying this insurance coverage is if you don’t have life insurance.
Life insurance provides a cash payout, too, but it can be more expensive. Final expense coverage is a form of life insurance, but it’s generally more affordable than other types of plans.
Buy a Plan Today
If you don’t have a plan, you might want to consider buying final expense insurance. Plan costs vary by age, health, and other factors, but you can find a policy you can afford.
If you’d like to request a free quote for final expense insurance, contact us today at USA Life Insurance Services.