Florida Final Expense Insurance
Florida final expense insurance is a type of permanent life insurance where the death benefit is used to cover a funeral, final medical costs, and other end-of-life expenses. 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. Add 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. Permanent life insurance does not expire and remains in force for as long as the premiums are paid.
According to the National Funeral Directors Association, the median cost of a funeral can be over $9,000. Typically, the costs of a funeral are shouldered by the estate of the deceased. Funeral expenses are a priority obligation that will be paid before most other estate debts. If, however, funds are still short, the person who signed the funeral contract will be responsible for the outstanding balance.
Most traditional life insurance policies require a medical exam to help set the cost of your policy. Final expense policies like a burial insurance policy don’t require much research and applicants will often be insured after answering a few questions.
Depending on the insurer, final expense policies may have added features such as child riders, accidental death & dismemberment, or support benefits for surviving loved ones such as funeral price shopping. Not all policies are the same, so make sure to review the policy’s benefits carefully.
Numerous individuals use the basic choices available for putting aside tax-advantaged assets, which is 401(k)s and IRAs.
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