Losing a loved one is an emotional, difficult experience. When you are grieving the loss of someone you love, it is not a good time to be faced with unexpected financial burdens. Expenses associated with death, on average, can exceed $8,000. To spare your loved ones when you pass away, it is advised that you put a final expense insurance policy in place to pay for end-of-life costs.

What Is Final Expense Insurance?

Expenses associated with death could have a significant financial impact on your loved ones. Social Security only provides a one-time payment of $255 for burial expenses. The average funeral costs more than $8,000 when you factor in the costs of:

  • Death certificates
  • Memorial
  • Housing the remains
  • Transportation
  • Preparation and embalming
  • Use of funeral home
  • Casket
  • Headstone
  • Burial plot
  • Burial service or cremation
  • Flowers
  • Printing of memorial cards

Final expense insurance is designed to help protect your loved ones from having to pay these expenses out-of-pocket. The policy also pays off the debts you have accumulated at the end of your life.

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