What Does Final Expense Insurance Cover?
Final expense insurance is designed specifically to cover the costs associated with end-of-life services. Here are the primary expenses that this type of insurance typically covers:
- Funeral Costs: This is the most significant expense covered. It includes expenses for the casket, burial or cremation, and other associated services.
- Burial Expenses: Final expense insurance can cover the cost of a burial plot, grave marker, and other related expenses.
- Medical Bills: If there are any outstanding medical expenses at the time of death, the insurance can also help cover these costs.
- Outstanding Debts: The policy can be used to settle any remaining debts, preventing your family from facing financial strain.
- Legal Fees: In some cases, final expense insurance can help cover the costs of settling an estate, including legal fees.
By providing a benefit upon death, final expense insurance ensures that your loved ones aren’t burdened with these costs during such a difficult time.