Final Expense in The Hawkeye State
Most people are surprised to learn how expensive funerals can be. To make matters worse, many of these payments are due at the time of service. Paying for the cost of your funeral and burial or cremation becomes an additional stress to your loved ones in their time of grief.
Even if you have traditional life insurance, you may find that your coverage ends after a set term or that the funds are not made available right away. With a smaller life insurance policy called final expense, you can purchase just the right amount of coverage and make sure your family will have the ability to pay when they need to.
What Is Final Expense Insurance?
Final expense is a type of permanent life insurance, so it covers you for your entire life. When you pass away, your beneficiaries receive the death benefit as a cash payment to pay for the costs of your funeral. Most people choose responsible family members as their beneficiaries so they can carry out their final wishes.
Benefits from a final expense policy can be as little as $2,000 or up to $50,000, depending on the insurance provider and how much you qualify for. If you have an existing life insurance policy or some savings, a benefit on the smaller side will be enough to help pay for your end-of-life costs. To help with things like medical bills, debts and living expenses, most people select a policy that leaves more than enough for funeral costs.
Benefits of Final Expense in Iowa
Funerals in Iowa with a burial cost an average of $8,367. Cremation with a funeral service has an average cost of $7,227. These prices come from the basic services fee, casket, transportation, ceremony and more. Your final expense policy of $10,000 or more will allow your loved ones to easily pay for these services. They can use any remaining funds however they wish.
Compared to traditional life insurance, final expense is much easier to get. The application comes with health questions but no medical exam, because these policies are made for people ages 50 to 85. It’s expected that you have some medical history. If you have serious medical conditions that would disqualify you from a standard final expense plan, our agents can find you a guaranteed issue final expense plan that takes all medical questions off the table.
Get Coverage in Iowa
Planning for your end-of-life arrangements and expenses can ease your mind and remove stress from your loved ones. The agents at Senior Life Services can get you started with a free quote for final expense insurance in Iowa. Give us a call today at 800-548-3249.
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