Why is Final Expense Insurance so Important?

A standard life insurance policy can take weeks, months, even years to pay out sometimes, but a final expense policy will likely pay out within 48 hours. This is vital when making burial and funeral arrangements for a loved one.

The traditional funeral cost in the United States is approximately $10,000 and that’s just for the essential items. There could be additional expenses such as lawyer fees, an obituary for the newspaper, flowers, unpaid medical bills, and unpaid debts. It is important that the family isn’t left behind to cover all these costs out of pocket.

A surviving spouse will receive a death benefit of $255 from Social Security and if you are a spouse of a veteran, the Veterans Administration will pay around $450-$800.