A final expense life insurance policy is used to cover expenses that occur
at the end of ones life. One example of this is funeral or burial costs.
Usually these policies have a low cash value and most of the time are
accepted quite easily by the insurance companies, compared with other types
of policies such as whole life.
Since an individual cannot do much about the expenses that occur at the end
of ones life it is practical that these expenses are planned for in advance.
Final expense life insurance is usually used to cover funeral costs and
sometimes probate costs. The terms of the policy are flexible and often the
insurance can provide cover for expenses if you were to get a terminal
disease.
Some expenses associated with burial
1. Hiring a Minister.
2. Casket cost
3. Wake and Visitation cost.
4. Funeral Service cost
5. Cost of Cemetery Plot
6. Hospital bills and last physician costs.
6. Cost of Headstone and Engraving
7. Casket and family transportation cost.
8. Legal fees and probate costs.
9. Mortgage pay-off, car loans, credit cards
10. Outstanding Debts To be paid.
