Even a little protection helps
Insurance types and terms may be confusing. That’s why it’s always a good idea to talk to a professional and do your own research online.
In general, larger amount term and permanent life insurance policies provide the most coverage and protection. However, there is also the option of a smaller monetary policy that can be used for final expenses relating to the funeral and burial.
Final Expense insurance, also known as burial insurance, is designed to cover the immediate bills loved ones face after a death. These final expenses usually consist of medical bills and funeral costs.
With an average funeral cost of $9,000, the ability to cover costs like this may be an option for applicants who do not qualify or cannot afford more coverage. Also, people living on fixed incomes or who do not have an estate for family to use for burial costs could be possible candidates for final expense insurance.
Protecting loved ones with life insurance is an important decision. Consulting a professional and additional research can help determine the best coverage options for you.