Did you know…?
The average cost of a funeral in the USA is $8,343 (according to the most recent figures from the National Funeral Directors Association). Moreover, this does not include the cost of a headstone or grave marker. Once these are added, the total cost can be nearer to $10,000 which is often times a greater cost than we are expecting, or indeed able, to pay.
At Shelly Alvarez Insurance, we provide specific Final Expense/Burial Insurance coverage to ensure that your loved ones have peace of mind.
What is Final Expense/Burial Insurance?
Like other forms of Life Insurance, this policy delivers a cash benefit which can be specifically used to help pay for burial expenses and other final expenses. These policies are a great choice even if you have already planned your funeral expenses because there are so many other costs that your family could be faced with. These can include medical bills, taxes and legal fees – not to mention memorial cards and flowers.
In addition, the cost of a funeral is not just that which is quoted by the funeral home. More often than not this fee does not include payment to the cemetery or burial ground, nor does it cover the headstone or grave marker as mentioned above. It is therefore important that you obtain the appropriate level of coverage to take care of these expenses.
Shelly Alvarez Insurance are experts at assisting you in obtaining the right amount of coverage and are always happy to discuss your requirements with you.
How does it work?
Typically, Final Expense policies are designed as as Whole Life insurance policy which provides permanent coverage. The cash benefit (or death benefit) is paid when you pass away and is usually smaller than a standard Term Life or Universal Life insurance policy benefit.
From the costs mentioned above, it is easy to see how important it is to plan for these additional fees. The most important benefit to this coverage is its ability to provide complete peace of mind for your loved ones, helping them to avoid any extra financial costs during what will be a very difficult time.
To summarize, the key benefits of Final Expense/Burial Life Insurance are:
Peace of mind that your loved ones will not have to face the burden of the final expenses that arise when you pass away.
Typical cash benefits from $1,000 to $50,000 (based on Age and State Availability).
Some policies offer a simplified or guaranteed issue, which means that the underwriting process is short and simple!
Please run a free quote below.
Alternatively, you can contact us to discuss your options.
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