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What is the best way to pay for your final expenses?

Did you know the average end-of-life expenses can range from $6,000 to $42,000?

Select your state here to see what the average cost of end-of-life expenses is in your state.

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The terms final expense insurance, burial insurance, pre-need insurance, and pre-paid funeral are often misused interchangeably. Be sure to ask your sales agent exactly what type of policy you are purchasing and what you will be getting in return.

Final Expense and Burial Insurance

"Final expense” and “burial insurance” are simply marketing terms that are most often used for small whole life insurance policies. These policies are marketed to seniors between the ages of 50 and 85 for the purpose of covering end-of-life expenses. When you purchase a whole life insurance policy, you will name a beneficiary who will receive a lump sum of money when you pass away. This is by far the most affordable option for seniors on a fixed income. Apply now!

 

Pre-Need Insurance

Pre-Need Insurance, which sometimes is referred to as burial insurance, is a type of insurance that will purchase predetermined cremation and/or funeral expenses. These policies are usually sold through a funeral home but may not be in your best interest because often the payments will be guaranteed to exceed the cost of the funeral and will be more expensive on a monthly basis than a final expense policy. Apply now!

 

Pre-Paying Funeral

Pre-paying for your funeral is another option some people choose. The good side is you will likely lock in your rates and you no longer have to worry about it. On the other hand, there are countless stories of funeral homes changing ownership or corrupt business practices that result in the deceased not getting what they paid for. Another issue is you are stuck with the funeral home you paid. A better option than writing a check for thousands of dollars is to consider a single premium life insurance policy. You will get more for your money and your family will be able to choose what to do with the benefits when you pass. Apply now!

 

Pro Tip: You can take out a final expense life insurance plan and assign all or a portion of the death benefit to the funeral home to pre-pay and plan your funeral today!

 
 
 
Kinzel Senior Advisors offer a wide variety of high-quality and fully customizable insurance packages and solutions for all of our clients’ insurance needs.