Life Insurance Basics

Discussing your end-of-life wishes and plans with the people you love can be difficult. However, having those challenging conversations now, and making financial preparations like purchasing life insurance, can help your loved ones respect your end-of-life wishes without struggling financially. That way, you can take solace in knowing you’re prepared for the future so that you and your family can focus on spending time together. Even if you don’t have to worry about replacing your income or paying off a significant expense like a mortgage, funeral insurance can allow you to protect your family from unexpected expenses when you’re gone….

The financial choices you make today can help your loved ones stay afloat when you pass away, so it’s important to understand your options. Life insurance offers your loved ones financial security by paying your beneficiaries a sum of money, or death benefit, when you pass on. Specifically, burial insurance, also called final expense or funeral insurance, is a type of life insurance designed to cover the rising costs of funerals. Burial insurance offers a streamlined application process and quick approval but a smaller payout than standard life insurance policies, providing coverage up to $35,000.  If you don’t know what…

Burial insurance, commonly referred to as funeral or final expense life insurance, is a type of whole life insurance policy with a death benefit designed to cover end-of-life expenses and funeral costs. It can be an accessible, affordable alternative to other life insurance policies, especially for older adults. While you may feel uncomfortable discussing end-of-life plans, a burial insurance policy can offer comfort in knowing that your loved ones won’t have the added stress of finding a way to pay for funeral expenses after you’re gone. How does burial insurance work? Like other life insurance policies, burial insurance works by…

Not sure how you or your family will pay for your final sendoff – or what it will even cost? You’re in good company: Most people haven’t financially planned for their funerals. Avoiding this topic is understandable; mulling over the details of your death can seem unpleasant. In fact, a study conducted by the National Funeral Directors Association (NFDA) found that while 62.5% of Americans recognized the importance of planning for funeral expenses, only 21.4% have made appropriate arrangements. Discussing death may be tough, but saddling your family with unanticipated expenses when you pass away is harder. Understanding the average…

The heartache of a loved one’s loss can be incredibly painful, frightening, and life-changing. During those initial days, it can be difficult to face daily tasks or take care of necessary arrangements for a lost loved one. Yet there’s much to do in the days following a death, along with significant costs to cover. As you get older, planning ahead for the end of life can help make this challenging time a little easier for your family. Having burial expense insurance can ease financial burdens, from funeral costs to medical bills, and allow your family to focus on the grieving…

Have you thought about how your family will pay for your final sendoff? It’s not an easy topic, but it’s an important one. Funerals and death are subjects most people push out of their minds because there are so many “what ifs.” But neglecting to plan ahead can end up leaving a financial burden for your family. Funeral planning in advance is a caring decision that can help protect them during a tough time. What to plan in advance for a funeral The average funeral starts around $10,000, and can rise even higher depending on the casket, service, or other…