Thinking about what is going to happen right after you die isn't a popular pastime for many. Yet, death is one of the few certainties that we have, and the ability to pay for funeral expenses isn't always a given. This afterlife financial issue is one of the reasons that final expense insurance has become popular. Sometimes referred to as burial insurance or a burial policy, this particular sort of life insurance policy is a type of whole life policy that is intended to pay certain expenses related to death.
Final Expense Insurance
It's not cheap to pass away anymore. Totals can be in excess of $10,000, according to the National Funeral Directors Association and many families simply don't have these sorts of funds on hand. These estimates may not even include the purchase of a tombstone or cemetery plot which will drive up costs considerably depending on what part of the country you live in. This is where final expense insurance comes in, which is a life insurance policy that is purchased with the intent of providing for these final expenses. These policies are generally affordable and don't require a medical exam to get coverage.