In life, planning ahead is always key. The same is true in death. End of life and burial costs can be hefty, with an average between $8,000 and $12,000. Because of this, most final expense policies are taken out for $10,000 to $20,000. The burial expenses will always vary depending on where you live and what your funeral plans are, so you can consult with the professionals at Belellano Insurance in El Centro to find the right plan for you.

Make a Plan

When you are preparing to purchase a final expense insurance policy, you need to be prepared. You should always have a medical examination beforehand so you can give the most accurate information possible as you are filling out forms. In the event of your death, insurance companies will likely browse many years of medical records, and may not pay the full insured amount if there seems to be issues or conditions that were not originally reported.

Choose Beneficiaries

You will be able to choose some beneficiaries to receive the insurance payout upon your passing. You can choose multiple people and split the percentages between them as you see fit, or you can choose a single beneficiary to receive the full amount. You can also add a secondary beneficiary in the event that your primary beneficiary is already passed.

Is Final Expense a Kind of Life Insurance?

Yes! Final expense is a modified type of life insurance that generally has a much lower value than traditional life insurance packages. Since the main goal of a burial insurance is to cover funeral costs and burial expenses, it will be a decreased payout compared to a full life insurance plan. Final expense is a great form of coverage to have in addition to life insurance so that your loved ones can be prepared to pay for funeral costs without dipping into life insurance money or savings.

Who Should Buy Final Expense?

While you are able to buy final expense at any age, it is most commonly purchased for seniors. No matter your age, this type of insurance can be helpful if you worry about leaving your family with extra bills. If you feel as though you have enough money saved to pay for your funeral expenses without issue, then you may not need final expense. In some events, you may not qualify for a new final expense plan depending on age and health factors.

If you have more questions about final expense and burial insurance, get in touch with the friendly professionals at Belellano Insurance today! We love our El Centro community and we will work with you to find the best solutions for all of your insurance needs. Stop by our office any time, give us a call, or contact us online, and one of our team members will reach out to you shortly.