Losing a loved one is a difficult, stressful, and emotional experience. The last thing you want your family to worry about is whether they have the money to pay final burial expenses. Final Expense Life Insurance is designed to provide financial peace of mind to family members by helping to take care of end-of-life expenses that come with the death of a loved one – whether it’s the medical bills from hospice care or the costs to provide for a proper funeral and burial. Final expense insurance is also referred to as burial insurance or funeral insurance. Read on to learn more about who would be benefited most from this type of coverage.
Who Should Buy Final Expense Life Insurance?
According to the National Funeral Directors Association’s recent statistics, the average funeral costs in 2017 are between $7,000 and $11,000, which can include the services at a funeral home, but may not include burial in a cemetery or the installation of a headstone. This is a significant amount for a grieving family to worry about. Many families choose to opt for cremation. While it is less expensive than a burial, it still costs an average of $6000. Final expense life insurance is designed to address these high costs and provide coverage for those who may not have the means of paying for a funeral out of savings.
The Benefits of Final Expense Life Insurance
- It takes the burden away from the family. The death of a loved one is always a difficult time, and dealing with finances and trying to find the right funeral options can further add to their family and friends’ anguish.
- It can be affordable. The cost can vary, but this policy is perfect for people on fixed incomes, with flexible payment options and benefit amounts.
- It’s easy to obtain. Applicants are asked a few health-related questions, and there may be no medical exam.
About National Catholic Society of Foresters
At National Catholic Society of Foresters, we pride ourselves on giving back to the communities that we serve by providing quality and comprehensive insurance solutions. We are a Fraternal Society, which means the sales from these financial services products help fund member benefits along with social, educational, and volunteer programs designed to respond to community needs. Our portfolio is extensive, ranging from various life insurance policies to IRA’s to support your financial needs no matter what stage of life you’re in. For more information, contact our friendly experts today at (800) 344-6273.