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Although most people do not like to think about it, there is a time when it is necessary to consider how one’s funeral and other final expenses will be paid. Today, the average cost of a funeral in the United States can be in excess of $10,000. This is particularly true when factoring in a memorial service, a headstone and burial plot, flowers, transportation, and other related costs.
Unfortunately, many families struggle to pay for these expenses, and some may be required to dip into their savings, or even put these items on credit. But a much easier way to ensure that your funeral and final expenses are paid – without the need to put loved ones into financial hardship – is by purchasing a final expense insurance policy.
Final expense insurance is a type of life insurance coverage that is designed primarily for paying for burial, funeral, and other related costs. This is why final expense insurance is often referred to as burial insurance or funeral insurance coverage. Continue Reading