What to Expect from a Final Expense Life Insurance Program

Jul 10, 2022 | Life Insurance | 0 comments

final expense life insurance program

Can you believe that the life expectancy within the United States is continuing to fall? It now sits at just over 76.5 years on average.

If you’re approaching that age, then it’s time to start looking into what’s often referred to as burial insurance. This is a plan that can ensure your family isn’t burdened by bills associated with the burial as well as the funeral and other expenses.

Are you wondering why it’s worth the investment? Keep reading to learn all about what you can expect from a final expense life insurance program.

What Is Final Expense Insurance?

When it comes to burial insurance for seniors, you can expect the plan to cover all or most of the costs associated with a funeral. That includes the casket, the burial or cremation, the funeral service, the viewing, and more.

However, it should be noted that the money your loved ones receive from a plan of this type doesn’t have to be used for these costs. Instead, they can allocate the funds toward a mortgage, medical bills, school loans, or something else. Looking at it this way, a final expense insurance plan is a different type of whole life insurance.

The exact payout can range from $2,000 to as much as $20,000, depending on the plan you choose and other factors.

Why Is It Worth It?

Did you know that the average cost of a funeral package can end up being as much as $9,000? The most expensive state to have a funeral in is Hawaii, where the costs can skyrocket to almost $15,000.

While no one wants to be a burden on their family, it’s quite clear that these costs could drain your loved one’s bank account. Instead of allowing that to happen, you can make preparations by finding a final expense insurance plan that will help your loved ones after you pass instead of hindering them.

The good news is that you don’t have to pass a medical exam to qualify for this plan. Keep in mind that you’ll still need to answer questions about your health, your age, and other relevant topics.

Final expense life insurance is the perfect option for individuals who don’t qualify for traditional whole life insurance. If you want burial insurance with no waiting period, for instance, then that’s a possibility as well.

Are You Ready to Get a Final Expense Life Insurance Program?

Now that you’ve learned all about what you can expect from a final expense life insurance program, you can decide if it’s right for your needs or not. The last thing you’d want to do is burden your family with an excess of funeral and burial-related bills. They’re sure to appreciate your thoughtfulness once you invest in the appropriate plan.

USA Life can provide you with the best insurance plans on the market. We work with you so that you can get exactly what you need. Feel free to contact us with any questions or request a quote.

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