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What is the Difference Between Final Expense and Life insurance?

Final Expense and Life Insurance are two very different things, and while both can ultimately achieve the same objective (i.e. meeting the burial costs) there are other things to take into account when considering which one is right for your situation.

Basics of Burial and Life Insurance

Basically, if you enter into an agreement with an insurance company for a Life Insurance Policy, you agree to pay them a set amount of cash every month, and when you inevitably die (there are after all only two things which you can be sure of in life – death and taxes) then the insurance company will pay out a pre-determined amount of cash to your beneficiaries. This may be used to help cover burial costs but is not specifically for it, and of course, there might always be some left over for your heirs.

Basics of Final Expense Insurance

Final Expense insurance (also known as funeral insurance), on the other hand, is money which is specifically designated to pay for funeral expenses and relieve the burden from the loved ones you leave behind. The money is often used simply to prepay for the funeral and give everybody one less thing to worry about when the time comes.

Final Expense Insurance is a great way to prepay for all of your (or your loved ones) funeral costs but you do need to be absolutely clear about what you’re paying for. Policies do vary and you don’t want to find that only part of the funeral costs were included. You should really make sure that you cover all hidden expenses too. Does your policy cover:

  • cemetery plot costs (including buying the plot, opening and closing the grave)
  • casket/urn costs
  • grave liner or burial vault costs
  • cremation (if applicable)
  • embalming (if necessary)
  • flowers
  • hearse and other transport (limousines)
  • obituary notices
  • funeral home costs

When buying any type of insurance policy it is just so important that you get what you think you are paying for! Don’t forget to read all of the small print and ask questions if you’re not sure about anything – that’s what they’re there for after all.

Just one more thing, if you do have a prepaid final expense insurance policy don’t forget to tell somebody where it is! If your beneficiaries don’t know about it they won’t get the benefit of it will they? It would be such a shame if they ended up paying for it all again out of their own pockets when you’ve been so thoughtful wouldn’t it?

Free Final Expense Insurance Rate Quote

Most people who are searching online for final expense insurance don’t realize that funeral insurance is essentially life insurance. A very inexpensive way to obtain quality final expense insurance is to get a free life insurance quote.

burial and life insurance

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burial and life insurance

Final Expense Insurance Quote

Final Expense insurance (aka funeral insurance) is a basic issue life insurance policy that covers people until they reach 100 years old. Final Expense insurance (also known as funeral insurance) is promoted as a way to pay in advance for your funeral expenses so that your loved ones won’t have to pay for your funeral. There are many things you can do to make your death easier on the wallets of those you love. Preplanning your funeral saves money and grief, as well as deciding whether you want to be buried in a casket or cremated and put into and urn, figuring out who gets what part of your estate and all the related turmoil associated with the end of life.