Although the topic is something most people would rather not think about, planning for one’s final expenses is necessary, because it insures loved ones are not left with a financial burden at a difficult time. In exchange for a low monthly premium, a final expense life insurance policy can provide the funds necessary to cover the costs needed to carry out a person’s last wishes.

Final expense life insurance policies have a permanent duration. This means that coverage will last throughout a person’s lifetime if premiums are paid as planned, and the benefit will be available when the family needs it regardless of how long the policy has been in place, the full benefit is paid when there is a claim. Until then, funds are guaranteed and managed professionally by an insurance company.

When the time comes, the family receives a lump sum to pay for final expenses. The advantage of funding final expenses through a final expense life insurance policy is that the family is not locked with a specific funeral home since things can change over time.