Out-of-Pocket Medical Bills
Even with Medicare or private insurance, elderly households may still be at risk of having large out-of-pocket health care costs at the end of life, which could create a significant financial strain.
Final Expense Whole Life Insurance
The average cost of a funeral is $7,848*. Final expense, at an affordable cost, can assist your clients with expenses at the end of life.
Protect your client's financial security and future
You can’t always control what happens to you or your family, but you can help provide financial security and reassurance when the time comes with final expense whole life insurance.
This type of life insurance is designed to help family members prepare for the expenses associated with the end of life, which can easily add up to thousands of dollars. With a final expense plan, your family can focus on healing, knowing that money doesn’t have to be the main concern.
How much Final Expense coverage does your client need?
Various elements can affect the amount of final expense life insurance you need. Examining your monthly bills can help you determine the amount of money you’d like your beneficiaries to receive. Here are a few costs to consider:
The expense of a funeral, interment, cremation, or other service.
Bills for services such as electricity, water, and garbage
Food, including groceries and dining out
Medical expenses
* Forbes Advisor – How Much Does A Funeral Cost Updated Jan 19, 2022. Accessed Apr 7, 2022.
Final Expense Insurance Features
Affordable Rates
Final expense insurance could provide lower-cost, fixed payments that remain constant throughout the policy’s duration.
Pays Cash Benefits
The monetary advantage of final expense insurance can be used for funeral and burial expenses, medical expenses, or any other requirement to assist family and friends.
Quick Approvals
Answer a few questions about your health and we’ll determine which plans you are eligible for.
Lifetime Coverage
Your final expense insurance stays active as long as your payments are up to date.
Builds Cash Value
Our final expense insurance policies accumulate cash value, which can be borrowed against or serve as a non-forfeiture benefit.
Payment Mode Flexibility
Our payment plans are adjustable or you can synchronize your payment with your Social Security disbursement.
How can Final Expense Insurance help?
Legal and Accounting Costs
Probate proceedings and associated accounting charges can come as a surprise to family and loved ones. Probate expenses vary by state and the process can span months or even years.
Funeral and Burial Expenses
A funeral can be a significant financial burden for a family, with the average cost estimated to be $7,848.1. Despite the misconception that cremation is a cheaper option, it is only 15% lower in cost than a traditional funeral.
Are you ready to offer Final Expense Insurance to your clients?
Opt-in to get contracted. It’s easy! Simply fill out this form to get started. If you have any questions, don’t hesitate to give us a call at 888-622-9122. Our expert agent support team is always ready to help.
Check out all the Final Expense carriers that you can contract with through Tidewater, and don’t forget to sign up for our VIP Portal for all the latest industry news.
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