Many times when we think of insurance, we immediately think of health insurance and policies that cover the medical care that may be required at some unexpected moment. However, it is also important to make the necessary provisions for when the time comes to leave this world. Do you know what final expense insurance is and what it covers? Read on to find out!
Final expense insurance is a whole life policy, which is created to cover every medical and funeral expense that arises when you pass away. This type of insurance is also known as funeral insurance or burial insurance.
Below, we will tell you about the specific expenses that this insurance can cover at the time of the beneficiary’s death, as well as the requirements that must be met in order to take out this type of insurance.
Remember that, if you need assistance in choosing an insurance policy that suits you and your needs, at Benefits Concierge Group, we have more than 10 years of experience in this sector, so we can help you make the best decision according to your needs. Call us now at 1-855-275-2243, or fill out our contact form.
What is final expense insurance?
Final expense insurance, also known as funeral insurance, is a type of insurance that covers each of the costs related to a person’s funeral and burial, preventing them from becoming a major concern for their family members.
It is a policy that will allow you to have everything ready for when it is your time to go, so it is often an excellent option for those who are elderly or have a pre-existing condition that prevents them from qualifying for traditional life insurance.
In any case, we know that it is a difficult decision and there are many aspects that must be studied in order to make the right one. That is why at BCG, we can help you choose the best policy for you, by carrying out a study that will allow us to identify your needs, in order to provide you with the best options that adapt to your profile.
What can final expense insurance cover in the United States?
Final expense insurance, as mentioned above, covers most of the costs that arise at the time of death of the beneficiary of the policy. These expenses are generally as follows:
- Cost of the casket or urn: this includes the price of the casket or urn, as well as any personalization or decorations made at the burial.
- Transportation: this refers to the cost of transporting the body from the place of death to the funeral home, or to the place of burial or cremation.
- Funeral services: Final expense insurance also includes the cost of funeral services for the deceased beneficiary, including planning the funeral and arranging religious or memorial services.
- Burial or cremation: The cost of the burial or cremation process may also be covered, including the cost of the plot or niche and the preparation of the location for the casket.
- Other Expenses: In some policies, it is also possible to receive payment for assistance in locating a funeral home for the beneficiary’s posthumous services, as well as funeral planning and the necessary elements for the location (floral arrangements, candles, etc.).
As you can see, this is a policy that will provide an important relief to your relatives at the time of your death, since it will cover each of the necessary expenses, in order to get a complete funeral service according to your needs.
Why is it important to have final expense insurance?
There are many reasons why it is important to have a final expense policy. Here are 3 of the most important ones, so that you can get an idea of the advantages that this type of insurance can offer you, according to your needs:
Financial protection: funeral expenses can be expensive, and final expense insurance can help cover these costs, which can be especially helpful for families who have difficulty paying funeral-related expenses.
Relief during a difficult time: Losing a loved one is a difficult experience, and having final expense insurance can help reduce the financial burden at a time when people are already dealing with a great deal of emotional stress.
Planning: Final expense insurance allows you to plan and save for funeral expenses before the death occurs, so you can make decisions early and prepare, rather than having to rush at the last minute and be filled with worry at a difficult time.
So, are you interested in taking out a final expense policy, or would you prefer to look at other options? At BCG, we offer you the assistance you need. We take our work beyond just offering you an insurance plan, we advise you in a different way, helping you fill out the application and providing you with all the documents you need to receive the insurance you need.
Call us now at 1-855-275-2243, or fill out our contact form so we can start studying your profile, and provide you with the solution you need for your health and well-being.