8 reasons why final expense insurance is a wise choice 2023

As human beings, we live one life and create multiple sweet memories with everyone we meet along the way. Be it friends, relatives, or neighbors! We might have had great memories as well as bitter ones. No matter how old we are, we all age, and our body’s strength depreciates as time passes. As we near the end phases of our life, it is important to realize that our loved ones are protected.

Here’s where final expense life insurance comes into place. It really helps your loved ones meet the costs of your funeral and burial during their time of grief. In the midst of an emotional turmoil, the final expense life insurance eliminates the financial stress that your family would have never anticipated.

In this blog, we will unwrap the 8 reasons why this is a wise choice, the importance of planning for the uncertain future, and a 5-step guide to getting a final expense life insurance.

Let’s begin!

Understanding final expense life insurance

Final expense insurance is also referred to as burial or funeral insurance. Unlike other life insurance policies, this is a specialized life insurance that covers expenses associated with a person’s funeral, burial, and other end of life costs. With a final expense life insurance, you can make sure that your loved ones get sufficient financial support during challenging times.

The past few years have not been smooth for many families around the United States, due to Covid-19 Pandemic. The virus outbreak was never anticipated and many families faced a lot of losses financially and emotionally.

As we navigate such health, economic crises, and uncertainties of the 21st century, it is high time that we understand the importance of securing the future of our families from 2023 onwards.

Rising funeral and burial costs - Why should you plan ahead?

As most of the commodities and services have experienced a price increase, even funeral and burial costs prices have increased. According to recent statistics, the average funeral in the United States can easily exceed $10,000. These costs which may have been significantly lower a decade ago, are not the same in 2023.

These funeral expenses not only include the service itself, but also cover the cost of the casket, burial plot, headstone, and other associated costs. During these times of grieving, final expense insurance seems to be an invaluable asset for families.

Primarily, final expense insurance offers you peace of mind, and by planning ahead, you make sure that your family won’t be shaken in bearing the financial expenses of your funeral and burial.

Here are 8 reasons why final expense insurance is a wise choice 2023

As mentioned in the previous sections, you might have realized the importance of getting a final expense life insurance in 2023. Here are eight compelling reasons why burial insurance is a wise choice and could be helpful to families and individuals:

1. Financial security

   You and your family can be relieved from financial stress and get peace of mind knowing that your end of life expenses like funeral costs, medical bills, and outstanding debts, are covered.

2. Affordable premiums

   Among other life insurance policy premiums, the final expense insurance premiums are relatively affordable. This improves accessibility to a wide age group of individuals from all backgrounds including seniors on fixed incomes.

3. No medical exams

   Many final expense life insurance policies offer guaranteed acceptance without the need for any medical exams or detailed health questions. You need to provide basic details and answer simple questions to get started with your coverage. This is a good option for individuals suffering from pre-existing health conditions.

4. Faster payouts

   When compared to other life insurance policy payouts, the final expense insurance payouts are generally quick and swift ensuring that the beneficiaries receive all the necessary funds to meet the end of life expenses.

5. Flexible coverage options

   This particular insurance comes with different coverage options allowing the policyholder to tailor the plan as per their needs. They get to choose the right amount that can cover any of their anticipated expenses. This helps them avoid overpaying.

6. Cash value accumulation

   With certain final expense insurance policies, you get additional financial support by borrowing against the policy if needed while you’re still alive.

7. Peace of mind for families

   By getting yourself a final expense insurance, you showcase your care and consideration for your family’s financial well-being. You and your family can ease off from worrying about the hefty final expenses.

8. Easy to get final expense insurance quote

   Obtaining the final expense insurance quote in the United States is straightforward. You research different insurance companies that offer the final expense life insurance policy and compare the rates from the quote provided by them. This helps in finding the best policy that aligns with your budget and needs.

Final expense insurance is essential, especially in the present scenario. There could be more personal or financial reasons why a final expense life insurance is needed. We want to make sure that your family is financially guarded. Now let us move the 5-step guide to secure a final expense insurance quote.

- Dan Millman

Let’s look into the numbers!

• Men are about 10% less likely than women to cite paying for burial expenses as a major reason for having life insurance.

• 30% of Americans think burial and final expenses are all that life insurance covers.

• Nearly one in three people (31%) said an insurance policy paid for the funeral.

A 5-step guide to getting a final expense insurance quote





Step 1: Determine your coverage needs

Before going ahead with your insurance quotes research process, assess your current financial circumstances and determine how you would be needed as part of your coverage. You might wanna consider factors like funeral expenses and costs in your state to choose the ideal coverage that would be helpful to you without the need for overpaying.

Step 2: Find a trusted and genuine insurance provider

Look for companies with a good reputation, positive customer reviews, and recommendations. Make sure to consult your friends and family before finalizing as their reviews can be really beneficial.

Step 3: Provide the necessary information

While securing final expense insurance is a bit easier than the other insurance options as you need not provide detailed medical information, you are still required to supply basic health information such as your age, gender, tobacco usage, and any pre-existing health conditions. Providing accurate information can get you an accurate quote.

Step 4: Understand policy terms

Once you obtain final expense insurance quotes from a trusted insurance provider, it is essential to understand the policy terms and conditions. Pay attention to all the premium amounts, payout options, and coverage benefits so that you know what you’re signing into.

Step 5: Apply and get your coverage

Once you have read the terms and selected a policy that suits your needs, you can proceed to submitting your application. Based on your policy, you would be required to answer some health related questions and undergo a simple underwriting process. Make sure to provide true information based on your best interests.

Accessibility and simplified underwriting

One of the most straightforward features of funeral insurance is that it is easy to access and follows a simplified underwriting process. This particular feature should not stop you from getting final expense insurance. The less stringent underwriting process makes it easier for individuals to qualify for coverage irrespective of any pre-health conditions. This enables individuals from all backgrounds to access funds to cover their funeral expenses.

Along with the accessibility feature, the final expense insurance can also be tailored according to your needs to make sure that it aligns with your personal needs and requirements. Here, you have the option of flexibility to design the policy that suits you.

To conclude

Getting a final expense insurance quote is neither complicated nor a challenging process. It is rather a wise choice in 2023 due to the ever-increasing costs of funeral expenses. Planning ahead and anticipating uncertainties can help you get peace of mind. You get to customize the coverage as per your needs without the requirement of a medical examination.

With the help of a final expense life insurance, you can concentrate on preserving assets for your heirs and make sure that your funeral expenses are taken care of. If you haven’t considered getting a final expense insurance quote, now is the right time to explore the coverage options and get a policy confirmed to protect your loved ones.




Get a final expense insurance quote today

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