Final Expense in
If you are afraid of what financial consequences will arise for your family when you die, minimize that concern by purchasing final expense insurance. A final expense plan can give you additional peace of mind in your final years, as the plans provide substantial benefits that can be used to pay for your funeral and other end-of-life expenses.
If you are not sure how your funeral will be paid for, start thinking about the difference that a final expense plan can make. Here are some basic details about what these plans offer to Utah residents.
Final Expense Insurance for Utah Residents
Final expense insurance is a common policy type held by many Utah residents. The plans offer valuable benefits that are not meant to directly benefit the insured person. Instead, the benefits go to their beneficiaries when they die.
In this sense, the plans function exactly like any other life insurance plan. In fact, many people compare final expense to whole life insurance. The key differences are that final expense plans offer smaller benefit amounts and less qualification requirements.
If you are looking for life coverage but are unable to qualify for traditional life insurance, this may be the option you have been waiting for. Work with an insurance agent to figure out what options are available in Utah.
Choosing Your Beneficiaries
Who you choose to be your beneficiary will determine where the death benefit is dispersed to when you die. Usually, people choose a close family member or other loved one. Because you can provide them with instructions on how to use the money when you die. While they do have the option to use the money however they please, it is possible to take steps that ensure the money goes where you intend it to go.
For example, some people set a funeral home as the beneficiary. This ensures that the money will be used to fund your funeral and other final expenses. If you do not have anyone trustworthy to direct the money to, this may be your best option.
Your Final Expense Solution
Finding the right final expense insurance policy takes time. If you choose the wrong one, your family may be left wondering why you didn’t provide them with sufficient income to pay for your funeral. Then, they will be left to cover the difference out of their own pockets. To avoid this unfortunate circumstance, prepare in advance with the help of a final expense agent from Senior Life Services.
You can reach one of our agents today by calling us at 800-548-3249.
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