Final Expense in The Pine Tree State
Mainers know that expenses add up in all areas of life. You work to build your savings, protect your investments and prepare for expected costs. Most importantly, you do your best to protect your family. The unexpected high costs of your funeral can take them by surprise and create additional stress at a difficult moment. Final expense life insurance gives you the ability to set aside enough money to cover those expenses and remove that burden.
What Is Final Expense Insurance?
Final expense is a life insurance policy with $2,000 to $50,000 in coverage that lasts for your lifetime. For a monthly premium as low as $40, you can set aside enough money to help pay for the costs of your funeral and burial or cremation. When you pass away, the death benefit goes directly to your beneficiaries, who are trusted family members or loved ones you choose to take care of these expenses. You can choose the size of your benefit based on how much money you have already saved and the end-of-life costs you can expect.
Importance of Final Expense Coverage in Maine
Funerals, medical bills, debts, living expenses and more can add up very quickly. In Maine, the average cost of a funeral and burial is $7,602 and the average cost of a full service cremation is $6,270. When you plan to spend at least $8,000 for your funeral services, you can select a death benefit of at least that much to make sure your loved ones have the money in hand to take care of any advance payments. If there is any benefit remaining, they can use it to pay for your other end-of-life costs or for their own wishes as they see fit.
Final expense is a unique offering from life insurance companies. You get the protection of permanent life insurance without having to have a medical exam. Applications will ask “yes” or “no” health questions, and if you are concerned about your eligibility for coverage, you can choose a guaranteed issue final expense policy for automatic approval.
Final Expense in Maine
Many people in Maine carry life insurance to protect their families. Term life is the more affordable traditional option, but the policies have an end date. Even if you already have a term life policy, your loved ones would benefit from adding final expense coverage to reliably take care of the cost of your final arrangements.
Speak with the agents at Senior Life Services to find the burial insurance that matches your needs. Call us at 800-548-3249 for a free quote today!
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