Final Expense Insurance Plans

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Get the Funds to Carry Out the Final Rites of a Loved One

Losing a loved one is an extremely difficult experience. Picking up the pieces while dealing with the accompanying emotions can be stressful. There are also many expenses associated with death that can, on average, exceed $8,000.

Without a final expense life insurance policy, most families have a hard time coming up with these funds quickly. Final expense life insurance can save families from having to withdraw from their savings or sell precious assets to come up with the necessary funds required to bury a loved one.

Here's an Idea of How Much a Funeral Can Set You Back

  • Casket and vault: $3,693
  • Basic services fee: $1,975
  • Facilities charge: $895
  • Embalming: $695
  • Preparation of body: $225
  • Service car or van: $130
  • Hearse: $295
  • Transfer of deceased: $285
  • Memorial service: $150
Total average expenses: $8,343

The above-mentioned funeral expenses are as per 2012's statistics of the National Funeral Directors Association.

What Is Final Expense Life Insurance?

While most people don't like to talk about end-of-life issues, it is important to plan for them. Expenses associated with death, such as caskets and embalming, can have a substantial financial impact on those you love. Final expense life insurance can help protect loved ones from having to pay these costs out of pocket.

In 2012, the average funeral expense exceeded $8,000. In most cases, a basic funeral service will include a memorial, death certificates for the deceased, and housing the remains. In addition to those costs, there are also charges involved for goods and services, such as transportation, preparation and embalming, use of the funeral home, a casket and headstone, a burial plot, a gravesite, the burial service, or alternatively, cremation. There may also be additional costs, such as flowers and the printing of memorial cards.

All situations are different, so it's important to determine the right amount of coverage for your specific needs.

If you're concerned about your family's financial security after you're not around anymore, schedule a consultation with the expert at Michael Horan Insurance.

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