What is Final Expense Insurance / Burial Insurance?
Final expense insurance, also known as burial insurance, is a variety of life insurance designed to cover the final funeral, burial, and even medical expenses after you pass. Every year, the cost of burials and funeral expenses increases. This inflation is primarily due to the higher price tags on funeral venues and services. Final Expense Insurance ensures that your funds are allocated according to your desires. One Stop Financial Group will help you understand the difference between funeral insurance options.
How Does Final Expense Insurance Work?
Many of our final expense insurance clients want to know the difference between final expense insurance and prepaid funeral packages. In short, prepaid packages only cover the cost of the funeral and burial services. Final expense insurance can cover these services as well as outstanding debts, probate fees, and other remaining expenses. Additionally, final expense insurance is more flexible and allows you to determine a beneficiary as well as choose between term or whole life policies.