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Final Expense Insurance


Final Expense Insurance is an insurance policy that is designated for paying the final expenses of the policyholder. In reality, it is an act of love. It demonstrates the love the policyholder has for his or her surviving loved ones at a time when they are grieving their loss.

What are Final Expenses?

When we die, there are certain expenses, referred to as final expenses, that must be paid by the surviving loved ones of the person who has passed on. Typically, these expenses are for funeral and burial expenses, medical or nursing home expenses, and debts that can legally be passed on to survivors.

The average cost of a moderately priced funeral in the U.S. is currently running about $9,000 to $10,000 according to, a service that monitors the funeral industry across the nation. Think about that for a moment, a one-day event to say goodbye to a loved one costs about $10,000. And think about what will happen if your loved one who has just recently passed has not made financial arrangements to have the funeral/burial expenses paid for in advance.

There are other expenses that must also be considered. Many seniors who have passed away may have recently spent time in a nursing home or assisted living facility, and there will typically be an outstanding bill due for their services. If the person who passed had been a party to a financial contract like a vehicle loan or personal loan, they would likely leave the other party on the contract (a spouse, child, or grandchild) completely responsible for the loan balance. This certainly calls for consideration of final expense insurance.

Why Purchase Final Expense Insurance?

Knowing that your surviving loved ones will be responsible for your burial and funeral expenses should be motivation enough to purchase final expense insurance, but in reality, many people fail to do so or put it off until it’s too late. Yes, you are not responsible for the debts of a parent or sibling, but wouldn’t it be best if your passing loved one’s estate wasn’t encumbered by a nursing facility or other creditor?

Many funeral homes will offer a “pre-need” funeral plan that is designed to let you pay monthly for your funeral expenses directly to the funeral home or placed in a trust. A problem that could arise with this method of paying final expenses is that many of these plans are not guaranteed. This means that the funeral home may bill for additional costs or rate increases that were not considered in the total pre-need commitment. You could also set up a savings program that would be designated for final expenses, but then what happens if you die shortly afterward, and there isn’t enough money to pay for final expenses?

With Final Expense Insurance, you can purchase the policy and then die the day after it’s issued and the entire death benefit will be paid to the beneficiary. It is the best and most affordable method to arrange final expense payment in advance.