Monday, October 28, 2013

Eight reasons to have final expense life insurance

Final Expense Insurance is designed to cover death related expenses, including funeral costs. Even if you already have life insurance, it is a good idea to take a separate policy to cover death related expense. Why? The reasons below explain why a separate final expense policy should be part of your estate planning.
 
The coverage you purchase is not for yourself. It is for the benefit of your beneficiary. 
 
Final Expense Insurance takes the financial burden off your loved ones during a
highly emotional time.
 
The face value goes directly to your beneficiary income tax free. This value added benefit allows you to gift money safely without having leaving a tax burden.  
 
Your beneficiary may use any funeral home you or they select. You have the option to decide to have the insurance check sent directly to your beneficiary or to the funeral home of choice.  
 
Nursing homes, hospitals, and other creditors cannot access your beneficiary's
benefits.
 
By pre-planning, you can decide and communicate how you want your final arrangements handled.   
 
A final expense policy will provide you and your family financial peace of mind.  
 
The longer you wait, the older you become the higher the premium cost. The best time to buy a policy is now. You are the youngest and healthiest you will be right now. Once you lock in your monthly premium at your current age, they are guaranteed never to increase.  

Good health,
Trisha M. Pacenti RN,BSN