Final expense insurance is very affordable, with many policies costing between $50-$100 per month.
As you may already know, insurance costs vary based on a number of factors, including how much coverage you need, your age, and your gender.
Before we delve into some cost examples, you may be wondering – why do I need final expense insurance anyway?
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Why Buy Final Expense Insurance?
Final expense insurance is designed to cover – you guessed it – your final expenses. Most commonly, this includes your funeral and the costs associated with your burial.
There are other expenses that come with dying (morbid, we know), like medical bills, legal fees, credit card debt, and any other bills you may have. We all know that funerals come with a cost, but many of us just don’t realize how expensive these things are.
Final expense insurance is specifically designed to cover these end-of-the-road bills so that it’s not left to your loved ones. Most of us want to leave a loving legacy, not a financial burden.
Ultimately, the purpose of buying final expense insurance is to make sure that your spouse, children, or other loved ones won’t be on the hook for the costly bills that come with death.