Final expense insurance also known as burial insurance is designed to cover the bills that your loved ones will face after your death. These costs will include medical bills and funeral expenses
In 2012, the average funeral costs exceeded $8,000. In most cases, a basic funeral service will include a memorial, death certificates for the deceased and housing the remains. In addition to those costs, there are also charges involved for goods and services, such as transportation, preparation and embalming, use of the funeral home, a casket and headstone, a burial plot, gravesite, the burial service or alternatively, cremation. There may also be additional costs, such as flowers and the printing of memorial cards.
While most people don't like to talk about end-of-life issues, it is important to plan for them. Expenses associated with death, such as caskets and embalming, can have a substantial financial impact on those you love. Final expense life insurance can help protect loved ones from having to pay these costs out of pocket.