Funerals are expensive. Cremations are too. It helps to have a life insurance policy in place to ensure that these expenses are covered after you or your loved one passes away.
But what if you can’t qualify for traditional life insurance? Well, you still have options. Final expense insurance stands as a flexible form of life insurance that accepts people with moderate to severe health conditions.
If you’re wondering how much final expense coverage to invest in, here’s some information that may be helpful.
How Much Do Funerals Cost?
To find out how much coverage you need, first, determine what your funeral will likely cost. This varies based on location, but you should be able to find estimates of the cost. On average, you should expect a funeral with a burial to cost between $5,000 and $10,000. It could cost more or less, depending on what features you want included. Cremations are normally less expensive because a casket and burial aren’t necessary. Still, you can expect a cremation to fall somewhere between $4,000 and $8,000.
Here are some of the costs typically associated with a funeral:
- Caskets
- Embalming
- Viewings
- Funeral services
- Burial
- Cremation
- Headstones
- Urns
How To Pay For Your Funeral
Now that you know the cost of a funeral, it’s time to think about paying for it. Final expense insurance is the best option for people who can’t qualify for other forms of life insurance. Through these plans, you can get coverage that will pay out a set death benefit once the insured dies. The amount of money your beneficiaries receive depends on the level of coverage you qualify for.
Qualifying for Final Expense Insurance
If you’re interested in a final expense insurance plan, you need to know what it takes to qualify. Fortunately, even people with moderate health problems can qualify for these plans. You don’t have to take a medical exam, but you do have to answer some basic health questions. This eliminates some people from the basic version of final expense, but don’t worry. Guaranteed issue final expense will accept all applicants. That’s right, even if you have severe health issues, you can still get final expense insurance.
Find Out How Much Final Expense Insurance You Qualify For
In most cases, it makes sense to purchase as much final expense coverage as you can afford. We’ll help you make an informed decision, just give us a call. You can reach Fidusure at (647) 567-4702.