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FINAL EXPENSE INSURANCE

Why buy final expense insurance?

Final expense insurance can cover bills, debts, and funeral costs after you’ve passed away. Considering that these costs can be substantial, ease the financial burden on your loved ones with the right final expense policy. Forever Legacy Financial can answer your questions about final expense insurance and identify policies that will guarantee your acceptance and can’t be cancelled because of age or health.

Many people view life insurance policies as a way of replacing their income after they die to help out their surviving loved ones. However, it is not always about income. Because burials and funerals often cost a lot more than people think they do, it is important to understand options like Final Expense life insurance.

fter all, the real point of life insurance is ensuring your loved ones are taken care of after you die and do not have to drastically change their lifestyle. Being faced with unexpected bills after your death could definitely get in the way.

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What Are Some Final Expenses?

What Are Some Final Expenses?

Funeral home expenses: Funeral homes — which can organize everything from the embalming, casket, liner, limo, hearse, visitation and more — typically charge thousands of dollars for their services. The final cost will depend on what options a family chooses, but the median funeral cost is $7,848, according to the most recent data from National Funeral Directors Association.

  • Casket: Perhaps the largest end of life expense, caskets typically cost between $2,000 and $10,000, while burial vaults cost an average of $1,572.

  • Embalming: Embalming typically costs an average of $775. You can avoid this charge if you wish to cremate your loved one or bury them immediately.

  • Reception costs following the memorial: Your preferences dictate the cost of the funeral reception. Some families spend a few hundred dollars on food at home, while others rent out event spaces for thousands of dollars.

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Naming a Beneficiary for Final Expenses

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If you plan on using some of your life insurance policy for final expenses, you’ll want to choose a trustworthy beneficiary who understand your desire to use a portion of the death benefit specifically for final expenses. Learn more about choosing a life insurance beneficiary.

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Who do I want to protect?  

 Common answers include a spouse or partner and children, but your list may also include siblings, aging parents and more.

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What expenses are covered?

Individuals usually purchase final expense insurance with the intention that the beneficiary will use it to pay for funeral costs, outstanding debts, probate fees, or other related expenses. Funeral costs could include the following:

  • Embalming

  • Cremation

  • Casket/Burial Vault

  • Transportation of Body

  • Hearse Fees

  • Crypt/Plot Cost

  • Minister Fees

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Forever Legacy Financial Can Help You Make Smarter Financial Decisions

“You don’t buy life insurance because you are going to die, but because those you love are going to live.”

FOREVER LEGACY FINANCIAL

OVER 65 WITH NO BURIAL INSURANCE?

WE CAN HELP YOU OR A LOVED ONE GET COVERAGE, REGARDLESS OF THERE HEALTH. FILL OUT THE FORM TO FIND OUT WHICH PRODUCTS YOU ARE ELIGIBILE FOR.

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