Final expense insurance is not very pleasant to talk about, yet it is one of the most crucial investments you’d make. Also known as burial insurance, it covers all the expenses that your family has to bear after your death.
When you die, your family might struggle to find funds, and this is where this policy will help them. You planned all your life and did well, so why not go for insurance that will help your family make final arrangements for you? It is affordable, easy to qualify for, and has a flexible coverage amount.
Let’s have a glance at the benefits insisting that you should buy final expense insurance.
A Relief for Your Grieving Family
Once you have left the world, your family has the responsibility to take care of the funeral and other expenses. To show their love, they would want to give you the best farewell possible. It would result in significant expenses, which they might not afford or have in hand.
An average funeral costs between 7000 and 15,000 dollars, depending on the arrangements and location. A policy like Mutual of Omaha Burial Insurance will take care of all such expenses and offer relief from such a stressful financial situation. It is good to have this policy if you don’t have anyone who can care for your burial expenses.
No Hassles
This policy is perfect for catering to people who don’t want to get into the hassles of a life insurance policy. Anyways who wants to? Burial insurance is simple to apply for and does not need any medical examination.
You only have to fill the form or answer a few questions asked by the insurer’s representative. They will ask you questions regarding your health, any ongoing treatment or sickness, or pre-existing ailment. The approval is quick and uncomplicated and is done within a few weeks. Once approved, it immediately comes into effect. It is relatively inexpensive and suits anyone on a budget.
No or Partial Waiting Period
Policies such as the Mutual of Omaha Burial Insurance have no waiting period. And, it applies to anyone healthy or people with pre-existing ailments. You don’t have to wait for two years to get the full benefit of this insurance policy. The policy will accept you with your medical conditions and give you immediate benefits. However, some have a partial waiting period, which means if you die before the waiting period of two years, you will be paid some part of the death benefit.
Limited Insurance Requirements
Not many of us think about buying life insurance. Final expense insurance is a great option if you are just looking to cover your burial expenses. It is not as expensive as the traditional life term policy and even fits perfectly if you have limited insurance requirements. It works the same way in some sense as your family will get some amount after you die. Your family can also use it for the funeral or pay your debts. It acts as a low-cost investment policy.
Perfect for Those with a Life-Threatening Disease
The eligibility for a life insurance policy depends highly on your medical history and current health condition. If you just had a heart attack or are diagnosed with cancer, you will only qualify once you have a successful treatment.
However, with ailments like coronary heart failure, Alzheimer’s disease, or cirrhosis of the liver, it is simply impossible that you’ll get a life cover. But, if you seek final expense insurance, you will not be disqualified immediately only because of your health condition.
Don’t Want To Burden Anyone
Final expense insurance gives you charge of everything that happens to you after you die. It lets you think about what you want and how you want things to be done. You lived your whole life with dignity, and after you die, you would want to be buried with dignity too. You can also plan how you want it to be conducted, making someone the beneficiary of it.
You will have nearly limitless options when you go looking for an insurance service provider. The insurer should offer you all the benefits you have expected and have good customer service.
Burial insurance policy providers turn into an extended family for several clients. For any confusion about choosing the right policy, contact an experienced independent agent like Gary P. Cubeta, who values emotion and gives a personal touch to his services. You must choose an insurance service provider who is considerate of its client’s needs and emotionally connect with them.