Burial insurance, also known as final expense insurance is life insurance with a specific need: to cover funeral expenses. Policy face amounts typically start at $6,000.00 and can be written up to $25,000.00. Face amounts are customized to your needs. At the time of application, you can decide what is best for you and the face amount may be adjusted accordingly. Your policy will cover the extra incidental expenses associated with funerals. Typically, those incidental expenses are not considered until it is too late.
Final expense insurance is not just-in-case insurance as with health insurance, auto insurance, flood insurance, etc. Death is the final chapter in life. We don't know when it will call upon us. The likelihood of death happening is 100%. Preplanning alleviates loved ones of having to make difficult decisions or to face financial concerns during a very emotional time.
If you just don't want to think about death and have not come to terms about your own mortality, here is something to consider. Throughout your life you earn a modest wage to provide food, clothing, shelter and medicine for yourself and family. The cost of living has increased, you want to cut corners and consider not buying any more insurance. You might think it is burdensome. You might think it is worthless to you. Some day when your life ceases to exist, your policy will come alive and get to work. Through your policy, your final expenses will be paid. Your policy will take away financial concerns. Your preplanned policy will give you peace of mind.
Trisha M. Pacenti RN,BSN