Loans, credit card debt, estate costs, the funeral … most people leave behind lots of unpaid expenses when they die. If left unattended, these final expenses can burden their family members for years to come.
Final expense coverage is life insurance that pays off these debts, ensuring that everything will be taken care of when you pass. The cost of final expense coverage typically is very affordable, even if you have some health problems.
The application process is quick and easy. Fortunately, the insurance experts at Jon Nolan Insurance offer the best available final expense insurance coverage options in Dallas, Fort Worth, Arlington, Frisco, and throughout our DFW service area.
Losing a loved one is an emotional, difficult experience. When you are grieving the loss of someone you love, it is not a good time to be faced with unexpected financial burdens. Expenses associated with death, on average, can exceed $8,000. To spare your loved ones when you pass away, it is advised that you put a final expense insurance policy in place to pay for end-of-life costs.
What Is Final Expense Insurance?
Expenses associated with death could have a significant financial impact on your loved ones. Social Security only provides a one-time payment of $255 for burial expenses. The average funeral costs more than $8,000 when you factor in the costs of:
- Death certificates
- Housing the remains
- Preparation and embalming
- Use of funeral home
- Burial plot
- Burial service or cremation
- Printing of memorial cards
Final expense insurance is designed to help protect your loved ones from having to pay these expenses out-of-pocket. The policy also pays off the debts you have accumulated at the end of your life.
Why is Final Expense Insurance so Important for Your Family?
The average funeral costs between $10,000 and $30,000. In addition to existing personal debts, legal and medical bills, and other outstanding debts, these final expenses can quickly run up quite a price tag for the family members you are leaving behind.
Ask yourself, “If I died tomorrow, could my family afford my expenses?” If the answer is “no,” then final expense insurance is essential. With a final expense policy in place, you can rest assured that your outstanding debts will never add to your family’s financial burden once you are gone. Not only is it the responsible thing to do, but securing a final expenses insurance policy provides a final gift to your loved ones in their time of need.
Cost of Final Expenses Insurance
Different types of final expense insurance are available. You can purchase a whole life policy that covers you until death, or a less expensive term policy that covers you until you reach a specified age. Both types of policies are available at various limits and premiums. Our agent Jon Nolan Insurance in Coppell, Texas, can help you find the right final expense insurance policy to suit your needs.