Final Expense (also known as Burial Insurance)
Final Expense Insurance is one of the greatest gifts you can provide for your loved ones. Providing your family with the money needed to cover your final expenses is something that simply makes sense.
 
Too many Americans find themselves without adequate financial resources. Sadly, most of them aren't even aware that a life insurance policy can cover these expensive obligations.

How final expense insurance can help:

•     Immediate cash benefits
•     Benefits paid directly to your beneficiary
•     Your rates can never be increased
•     No medical exam
•     Guaranteed renewable
•     Accelerated benefits
•     Cash and loan value
•     Paid-up insurance
•     Spare your loved ones from the financial burden of final expenses.

Sample Costs:

    Casket and Vault:             $3,693
    Basic Services Fee:           $1,975
    Facilities Charge:                $895
    Embalming:                      $695
    Preparation of Body:          $225
    Service Car/Van:               $130
    Hearse:                           $295
    Transfer of Deceased:        $285
    Memorial Service:              $150

Total Average Expenses:        $8,343

*2012 nfda.org Statistics

What is final expense life insurance?

While most people don't like to talk about end-of-life issues, it is important to plan for them. Expenses associated with death, such as caskets and embalming, can have a substantial financial impact on those you love. Final expense life insurance can help protect loved ones from having to pay these costs out of pocket.

In 2012, the average funeral exceeded $8,000. In most cases, a basic funeral service will include a memorial, death certificates for the deceased, and housing the remains. In addition to those costs, there are also charges involved for goods and services, such as transportation, preparation and embalming, use of the funeral home, a casket and headstone, a burial plot, grave site, the burial service or alternatively, cremation. There may also be additional costs, such as flowers and the printing of memorial cards.

All situations are different, so its important to determine the right amount of coverage for your specific needs.