05/22/2022
One common question seniors have is: What is final expense insurance anyway?
Well, put simply, it’s an insurance policy with a small death benefit to cover end-of-life expenses.
Let’s pause for a second and define some terms:
✅ “Death benefit” defined: If someone has final expense insurance and they pass away, a designated person will receive a sum of money – the death benefit.
✅ The designated person – called the “beneficiary” – is typically someone like a spouse or a family member.
Like I mentioned above, final expense coverage is for a small death benefit – usually between $1,000 and $35,000. It’s used to take care of expenses such as a funeral, casket, embalming, cremation, paying off medical expenses, leaving money to loved ones, and more.
And that’s all for today – I’ll make more posts soon explaining more about final expense insurance. Until then, feel free to message me if you’d like to learn more.
