Final Expense Insurance is For Them, Not You…
Final expenses add up quickly, especially these days considering inflation and price increases, leaving family members struggling to cover the costs. One significant way to help relieve this burden is by having final expense insurance.
When someone passes away, it can be a difficult and emotional time for their loved ones. Not only are they dealing with the grief of losing someone they care about, but they may also be facing financial challenges related to end-of-life expenses.
What is Final Expense Insurance?
Final expense insurance is a type of life insurance that is designed to help cover the costs associated with a person's death. These expenses can include funeral costs, burial expenses, and other end-of-life costs. Final expense insurance is typically less expensive than traditional life insurance policies because the death benefit is usually lower.
Unlike traditional life insurance policies, final expense insurance is designed to provide immediate benefits that can be used to pay for funeral and burial expenses. This is important because it can help to ease the financial burden on loved ones, who may be struggling to cover these costs during a difficult time.
There are several types of final expense insurance policies available, including term life policies, whole life policies, and burial insurance policies. Each type of policy has its own benefits and drawbacks, so it's important to talk to a Pivotal agent to help you determine which type of policy is right for you.
Why is Final Expense Insurance Important for Loved Ones?
Funerals and end-of-life expenses (like at-home care, nursing homes, hospital stays), can be very expensive. According to Finder and National Funeral Directors Association, the average cost of a funeral in the United States is around $9,420, which is an increase of roughly 20% from 2021. This doesn't include other end-of-life expenses, such as cemetery fees, headstones, and other related costs. These expenses add up quickly and leave family members struggling to cover the costs.
Without final expense insurance, your loved ones may be left with the burden of covering these costs, which can be significant, on their own. That, coupled with the existing grief and emotional distress can be too much for a family to handle. Final expense insurance can alleviate that stress and provide peace of mind for both you and your loved ones by ensuring that these costs are covered.
How to Choose the Right Final Expense Insurance Policy
Choosing the right final expense insurance policy can be a daunting task, but it's important to talk to a Pivotal Life Insurance agent who will take the time to research your options, shop around for the best plan at the right cost, and find a policy that meets your needs. Here are some factors to consider when selecting a policy:
Death benefit: This is the amount that will be paid out to your beneficiaries (of your choice) when you pass away. It's important to plan the type of burial and funeral you want and choose a death benefit that will cover the costs associated with your end-of-life expenses.
Premiums: Final expense insurance premiums can vary widely depending on the policy and the insurance provider. Your Pivotal agent will compare premiums and find a policy that fits your budget. Speak to an agent now.
Policy features: Some final expense insurance policies offer additional benefits, such as accidental death coverage or living benefits.
Insurance provider: It's important to choose a reputable insurance provider that has a strong financial rating and a good reputation in the industry.
Your Pivotal agent will do the heavy lifting for you, so no need to worry or get overwhelmed. They will compare policies and pricing and find one that offers the features you need so that you can ensure that your loved ones are protected in the event of your passing. Talk to an agent now.
Unlike other insurance where you can borrow against the cash value, final expense insurance is really for your family- not you. It can provide a much-needed safety net for your loved ones when you pass away. By covering the costs associated with end-of-life expenses, final expense insurance can help ease the financial burden on your family members and provide peace of mind during a difficult time.
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About Pivotal Life Insurance
Pivotal Life Insurance is a family owned, independent insurance agency that focuses on income protection and family security through Life Insurance products (Term Life, Whole Life, Final Expense), Mortgage Protection, and Annuities. With a range of product offerings and insurance carrier partnerships, we accommodate the varying needs of our clients through resources provided by the nation’s top rated carriers.
Although we are headquartered in South Florida with a branch in Maryland, we service most of the United States as our agents are licensed throughout the country. Pivotal Life Insurance is one of the fastest-growing agencies and we pride ourselves in putting you, our clients, first.
Insurance Is Pivotal. Family & legacy are worth protecting. Cherish what’s important.
For any questions or assistance, call the author now: (561) 412-5500
