What is final expense life insurance?

While most people don't like to talk about end-of-life issues, it is important to plan for them. Expenses associated with death, such as caskets and embalming, can have a substantial financial impact on those you love. Final expense life insurance can help protect loved ones from having to pay these costs out of pocket.
In 2014, the average funeral exceeded $9,300. In most cases, a basic funeral service will include a memorial, death certificates for the deceased, and housing the remains. In addition to those costs, there are also charges involved for goods and services, such as transportation, preparation and embalming, use of the funeral home, a casket and headstone, a burial plot, gravesite, the burial service or alternatively, Cremation. There may also be additional costs, such as flowers and the printing of memorial cards.

Final expense life insurance policies.

Purchasing a final expense life insurance policy through Carolina Life & Health is easy, and your age and health may not affect your approval for coverage.  We offer the following three policies:

  • Immediate Solution
  • 10 Pay Solution
  • Easy Solution

Advantages of final expense life insurance policies. No waiting period for coverage to begin.No increase in premium due to age.
Continuation of coverage (provided that premiums are paid).

Compensation for an untimely death or dismemberment.

Losing a loved one is an extremely difficult experience. Picking up the pieces while dealing with the accompanying emotions can be stressful. There are also many expenses associated with death that can, on average, exceed $9,300.

Without a final expense life insurance policy, most families have a hard time coming up with these funds quickly. Final expense life insurance can save families from having to withdraw from their savings or sell precious assets to come up with the necessary funds required to bury a loved one.

Casket and Vault

$3,793

Basic Services Fee

$1,975

Facilities Charge

$995

Embalming

$795

Preparation of Body

$275

Service Car/Van

$280

Hearse

$495

Transfer of Deceased

$385

Memorial Service

$250

TOTAL AVERAGE EXPENSES

$9,343*

Other cash payments, such as cemetery plot, headstone, etc. are not included in the above.