August 10, 2017
Agency
What is Burial Insurance? Or Final Expense Insurance?
What is Burial Insurance? Or Final Expense Insurance
Burial or Funeral expense insurance is generally a whole life policy that is used to pay for funeral expenses when one passes away or can also be used to pay off these items:
- Medical Bills
- Credit Card Bills
- Legal Costs
- Mortgage Payments
Who is a good candidate for a Final Expense Policy?
- If you don’t have any existing life insurance at all
- You want to prevent your loved ones coming out of pocket for your funeral costs.
- Limited savings to cover the burial costs
- You have life insurance already and you want to designate the Final expense policy to pay the funeral costs
How much coverage is ideal?
The amount of coverage depends for each person but generally the average costs of a funeral is between $10,000 – 12,000. If you wanted to cover just the cost then this would suffice. If you wanted to leave a cushion to your family then you could apply to add on another $5,000. You have options and the ideal scenario is to speak to one of our independent insurance specialists and find which plan is best for you.
We have you covered when it comes to any Burial Policy or Funeral plan at The Ascension Group. Call us at (214) 277-9497 for a plan to protect you and your family today!