Finding the best final expense insurance doesn’t have to be overwhelming or difficult. The most important step is narrowing down the choices out of the many companies that offer final expense insurance. Choosing the right death benefit amount, beneficiary, and planning ahead are ways to ensure you find the best final expense insurance for you and your family.
What is final expense insurance?
It is important to understand what final expense insurance is and how it will help you and your family. Final expense insurance is meant to pay for final expenses upon your death so that your family is protected from the burden of financial strain. This allows them to celebrate your life without the distraction of wondering how funerals, debts, and future bills will be paid. Sometimes final expense insurance is called funeral insurance, burial insurance, or whole life insurance. No matter what name you have heard, the benefit is the same- paying expenses in your family’s time of need.
Where do you start?
First, you need to have an idea of how much final expense insurance you want for your family. The most common expense to prepare for is funeral cost, whether a traditional burial or cremation. Expenses associated with your funeral might include transportation, casket, burial plot, headstone, cremation processing, an urn, memory plaque, services at a funeral home, and other arrangements made by your family. All of these items and the decisions with them can be intimidating but knowing the funds are available to pay for them relieves your family of one stressful part of the process.
Another expense to plan for is any debts you would like paid for your family out of the death benefit of your policy. These debts might include paying a mortgage, car payment, and other bills for a little while as your family adjusts to living without your income or retirement money.
The last amount to include when figuring out the best final insurance death benefit amount is any extra monies to leave to friends or family members. This money might go to a spouse for an emergency fund or a grandchild for part of college tuition or start up money after graduation. No matter what your family member uses the extra money for, it is something you can include when calculating how much burial insurance you would like to have for your family.
What’s next after I pick an amount of final expense insurance?
So, you totaled funeral costs, debts to pay, and monies to leave and you know how much funeral insurance you would like to have. Now you will want to get some quotes to get the most coverage for the lowest monthly payments. Sometimes low payments mean low quality company so you it is important to protect yourself from companies with a poor reputation for servicing their clients when called upon. The best way to be sure you are getting a reputable company and having many good choices for who can provide the best final expense insurance is to use a broker.
What is a whole life insurance broker?
A broker helps you get the best final expense insurance. This type of insurance specialist is also called a whole life insurance broker. The difference between a regular insurance agent and an insurance broker is that an agent usually represents just one company. That means that the agent works for the insurance company and not for the client. There is no flexibility based on the client’s needs or health because there is only one company being looked at. An insurance broker works with many, many different insurance companies and that means instead of working for an insurance company, the broker works for YOU, the client.
This is very important. Its not wise to purchase a burial policy from a company that only offers one policy. Brokers like Assurance Life, make sure you are getting the best final expense insurance with a reputable company based on your health and how much insurance you need. Assurance Life is a broker that works with nationwide companies such as Mutual of Omaha, Gerber Life Insurance, AIG, and Family Benefit. We offer free quotes that compare over 20 companies so that we find you the best coverage at the best rates.
How do I get a quote for the best final expense insurance?
Even if you haven’t quite figured out the ideal death benefit for your family’s situation, Assurance Life can help you get started with some free quotes for the most common amounts of final expense insurance. Whole life insurance policies start at $5000 and go up to $40,000. You can do this in two ways. You may fill our quote form to start the process online or call our toll free number 888-510-1381 to speak to a specialist. We can provide average funeral costs in your area as well as give you comparisons for different death benefit amounts.
Uh oh… I have poor health. Can I still get burial insurance?
Now that you know what final expense insurance is and how to get started, you may wonder what to do if you have poor health. Thankfully, there are options for most people to get final expense insurance to protect their family. As long as you are between the ages 50-85, there is some type of final expense insurance you will qualify for. That is why it is so important to use a broker who can compare companies for you. One company might consider a certain health problem a decline but another will approve the policy. About 90% of clients are approved for DAY One coverage for the best final expense insurance. That means they are covered from the time the first payment is collected. For more severe health situations, Assurance Life can place you with companies who have a waiting period but you are still able to get whole life insurance coverage for your final expenses.
How long does it take to get final expense insurance?
Thankfully, final expense insurance is a type of whole life insurance policy. Whole life insurance is just what it sounds like- insurance that covers you for your WHOLE LIFE. One of the best benefits is how quick and easy it is to apply for. You can start by requesting a FREE QUOTE and an agent will contact you or if you are ready to get started now, call our toll free number 888-510-1381. Then it only takes about 10 minutes to answer some yes or no health questions and get your free quotes from several companies.
Once you pick the best plan for your needs, you can be issued the policy within a few days, starting your coverage. There is no medical exam and the questions are simple and have yes or no answers so there is no confusion.
Getting the best final expense insurance!
Choose your benefit amount, get a free quote, pick your plan, and you are ready to go. Protecting your family from the cost and stress of dealing with financial burden upon your death is an incredible gift to leave behind. Let Assurance Life help you find the best final expense insurance for you and your family so you don’t go unprotected a moment longer.