Friday, August 19, 2011

Final Expense Insurance

Final expense insurance is funeral insurance. You decide on how much insurance you will need for your funeral costs to determine the amount of insurance you want to buy. Policy face amounts can be written up to $25,000. The average funeral costs today are $6,000.

Life insurance is one of the lowest priced insurances. Car, house, health, etc. have a higher rate of premium. If you own any of these types of insurances, it would be a wise decision to add final expense insurance to your portfolio. Once you pass, your family will be able to continue to maintain their lifestyle without having the burden of paying for high funeral expenses from an already tight budget. Even the least expensive funeral package is enough to make the average family struggle to pay.

Most people are living paycheck to paycheck and have a looming threat of losing their jobs. If you become a victim of downsizing and lose your job, look at the heavy financial burden left on your loved ones should an unexpected accident occur. For those left behind, life and bills do not stop after your deceased. Leftover debt and current expenses must be paid.

Preparing for end of life issues can be difficult to discuss and it is not an easy thing to do. However, it is a part of our lives and it is the final chapter. We are mortal. Coming to terms with death and facing the inevitable, will enable a conversation on end of life issues and funeral preparation much more forgiving.


Trisha M. Pacenti RN,BSN