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Tag Archives: final expenses

What is Final Expense Life Insurance?

covering end of life costs with insurance

Final expense life insurance is designed to solely cover your final expenses. This means that the funds are specifically for burial expenses, final personal bills and for medical expenses. If there are any funds left after that, the family can disperse the funds as they see fit, with approval from the life insurance company of course. When you worry about how your life insurance funds will be spent, this is the ideal option to consider since it is structured by most insurance companies. Burial Expenses The average funeral in 2014 costs $10,000 for a simple burial. This expense alone takes up a big chunk of the final expense insurance. From the embalming procedures to obtaining the death certificate, there are a lot of expenses incurred with a funeral. There are fees for gas for the vehicles driving to the cemetery, fees for using the facility for holding the service, fees for storing the deceased and many others. It is important to have enough final expense insurance to cover these costs. Burial expenses include: Publishing the obituary Printing of memorial cards Embellishments to the casket Guest books General funeral director fees Assistance from funeral home staff to set up the wake ...

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