Death is inevitable for all of us, which means burial or final expenses are too. Life Insurance gives us peace of mind that our loved ones are financially protected. From debts, loans, and mortgages. Even healthcare expenses. Yet, life insurance does not necessarily cover funeral costs. This leaves the burden of paying off the expenses to those left behind. Thus, burial insurance should also be considered in getting insurance.
What is a Final Expense?
Final expenses are the costs from the burial home, memorial services, and cemetery fees. It is any costs that are associated with the death of a person.
Insurance for Final Expense
Burial Insurance or death benefits from Life Insurance are readily available for people. Anyone who wants to have coverage for the final expense when their time comes can get it. A death benefit usually provides the loved ones money used if the benefactor's demise comes in.
It also covers the costs of your funeral or cremation. Then, it could also be used at your discretion to pay off debts. That may include medical bills, loans, mortgages, and even credit card bills.
Most funerals could cost up to $10,000. So, it would be wise to get burial insurance. This won't leave your family or loved ones with so much to pay for, damaging their savings or bank accounts.
Who Should be the Beneficiary?
Suppose your life insurance policy covers final expenses or has burial insurance included. In that case, you have the option to name a beneficiary you trust. This one knows that part of the death benefit must include the final expenses. You also have the option to choose a funeral home of your liking.
In conclusion, it is almost imperative for us to get burial insurance, not just life insurance. Since nobody lives forever, we should prepare for the expenses that dying entails. We will not leave our loved ones grieving and under so much debt. Death is also unpredictable; it can happen at any time. So as early as possible, get yourself final expenses insurance.
At Medicare Simplified KC, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays, and we're here to help you out. Learn more about our products and services by calling our agency at (816) 701-6661. You can also request a free quote by CLICKING HERE.