Do You Need End Of Life Insurance? 1 Critical Question To Consider

Written by Ross Quade Published: / Last updated:

Wondering whether or not you should get end of life insurance

Begin by asking yourself the following question,

“Do I want my loved ones to take care of my final expense and obligations, or would I prefer to have a plan in place for them?”

Ultimately, end of life insurance is designed to provide to help offset final expenses, typically including for coverage for expenses such as funeral services and cremation costs. However, this reality is that this is just the beginning of what a policy can provide.

Depending on the type of policy selected, final expense insurance can be utilized for a variety of purposes.

What End of Life Insurance Provides

Curious just exactly what an end of life insurance policy can provide?

Here are some of the most common ways people are able to leverage their policy to their advantage.

Funeral Costs

Unexpected funeral costs can leave families with overwhelming financial burdens. With the average funeral costing well over $5000, many families are not prepared to deal with these expenses, particularly if they occur suddenly. An end of life insurance policy essentially offsets these costs for loved ones.

Cremation Costs

In addition, to offset funeral expenses, a life insurance policy can also be used to offset cremation costs as well. A typical policy will often be able to greatly reduce these and even eliminate these costs completely for loved ones.

Remaining Debts

While providing coverage for expenses associated with the end of life, a final expense insurance policy is also capable of covering remaining debts upon passing. Rather than debts being passed along to loved ones, an end of life insurance policy can provide the necessary funds to pay off these responsibilities.

Last Health Directive

Many people are surprised to learn that an end of life insurance policy can provide more than just coverage for funeral or cremation expenses. For example, in the event that you were incapable of making a decision on your own behalf, a final expense insurance policy could take care of any final health directives.

Last Will & Testament

End of life insurance is also an effective tool for ensuring that your last will and testament is fulfilled. Whether you would like to leave designated beneficiaries with proceeds from your policy or you would prefer to leave proceeds with a nonprofit organization of your choice, a final expense insurance policy can be a useful tool for ensuring that your last wishes are met.

Relief of Burden

Perhaps even more importantly, end of life insurance relieves loved ones or family members from having to manage the multitude of expenses and obligations of your passing, freeing them of these often overwhelming burdens.

What’s Next?

So, what’s next?

If you think that final expense coverage is indeed the right choice for you, there’s only one thing left to do, start seeking coverage.

Luckily, securing final expense insurance is relatively easy and our convenient online resources make it even easier, allowing you to compare quotes in the confidential setting of your home.

About Prime Mutual
About Prime Mutual

Prime Mutual has been helping seniors compare the best final expense insurance companies throughout the United States since 2016. We believe in educating our clients, building trust, and assisting them plan for end of life expenses. With a growing population of seniors in retirement, it is more important than ever to have a financial plan in place to help struggling families honor their loved ones.

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