When is the last time you talked about your Final Expenses?
No one likes to talk about it but knowing your loved one’s wishes is very important. Final Expense Life Insurance is affordable for almost everyone and can help take care of your loved ones needs. You may be thinking “I have money set aside in the bank to cover my final expenses.”
What if that money gets tied up in probate? What if that money does not become available for weeks or even months. Do your loved ones have enough money set aside to cover the expenses that follow? Is that a burden you really want to put on your loved ones?
Social security will pay you $255 towards your final expenses. A Final Expense Life Insurance policy can help supplement that. Did you know that a 65 year old female can get $10,000 in life insurance for around $43.00/mo. A 65-year-old male is around $55.00/mo. Premiums are based on age, gender, and health.
These premiums will never go up. You are guaranteed renewable as long as you pay your premiums. The death benefit will pay out immediately to whomever you list as your beneficiary. You can choose a death benefit amount as high as $35,000 and you do not have to have a physical.
This is whole life insurance so it will also build cash value over time. If you have an emergency and need to borrow money. You can borrow from your cash value, but make sure to pay it back so it does not affect your death benefit. Another bonus with whole life insurance is that you will have it for your whole life. It will never end while you are still living.
Final Expense Life Insurance is not only used for one’s final expenses, but also can be used to leave money as a gift. Want to leave a donation to your favorite charity or church? Want to help your grandchild pay for college? These plans can help with that. The benefit that gets paid out is also tax free!
If you already have life insurance in force, when was the last time it was reviewed? Do you know what kind of life insurance you have? Is it whole life or term life?
Take the time to call your agent for a free review to discuss your life insurance needs.