What happens when you die? The Bible says ‘you will return to the dust.’ What happens to your family when you die? They grieve their overwhelming loss and they come together for emotional support. In this time of turmoil, they must also plan your burial.
If you are fortunate, you have reached a fine old age, well into your retirement, with no concerns of leaving debts behind. There isn’t a mortgage left to pay, a child left to send to college, or an income that needs to be replaced. There’s still one big cost for your family to contend with after you are gone- your funeral.
Your funeral can be very expensive, especially without adequate financial planning on your part. According to the National Funeral Directors Association, the median cost of a funeral with a viewing and burial in 2014 was $7,181. (This figure has shown to increase over time.) Your family could be left bearing the burden of these expenses.
There is a specific type of insurance that you can get to cover the cost of your death. Designed for individuals 40-80 years of age, final expense insurance is one of the most affordable options available. It also comes with several attractive features, like premiums that don’t change over time, a flexible payment option, and coverage from $5,000-$25,000. No medical exam is required, and it cannot be canceled as long as you are paying the premium.