Final Expense in The Prairie State
In Illinois, the expenses associated with funerals can be a significant source of stress during an already challenging time. It’s disheartening to know that not everyone has the financial resources or inheritance to ease the burden on their loved ones when the need arises. However, there is a solution that can provide you with peace of mind and help alleviate this worry.
Final expense life insurance policies offer you an opportunity to proactively prepare for these costs, even if you currently face financial constraints. By paying a manageable monthly premium, you can ensure that your family will have the necessary financial support to handle the expenses associated with your final arrangements. We understand the importance of lightening the burden on your loved ones during such a sensitive time, and our goal is to assist you in securing the coverage you need with compassion and understanding.
What Is Final Expense Insurance?
Final expense insurance, also known as burial insurance, is a thoughtful life insurance option designed specifically for seniors. If you fall within the age range of 50 to 85, there is an opportunity for you to obtain an affordable policy that offers a modest benefit. This insurance coverage aims to assist you in addressing the financial obligations associated with your funeral, cremation, or burial.
With final expense policies, you have the flexibility to choose coverage amounts ranging from $2,000 to $50,000. Many individuals opt for plans ranging between $10,000 and $20,000, enabling them to comfortably address their funeral expenses. Upon the policyholder’s passing, the designated beneficiary receives the death benefit, which can be utilized to cover funeral costs, medical bills, and other end-of-life expenses. You have the ability to express your preferences regarding your final arrangements and even plan to leave any excess coverage directly to your chosen beneficiary, providing additional support and peace of mind.
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Choosing a Final Expense Plan
Qualifying for final expense insurance is a straightforward process that doesn’t involve a medical exam. Instead, you simply need to answer some health-related questions. If you have concerns about being denied coverage due to significant medical issues, there’s no need to worry. You have the option to choose a guaranteed issue final expense plan, which doesn’t require any health questions. It’s important to note that these plans may have a slightly higher cost and a waiting period before full coverage takes effect. To make an informed decision, I encourage you to consult with an advisor who can guide you through the process of selecting the right guaranteed issue plan for you.
The primary purpose of final expense plans is to cover the costs associated with your burial. In Illinois, the average expenses for a full-service funeral with burial amount to approximately $8,126. Alternatively, cremation with a funeral has an average cost of $6,697. By securing a final expense coverage of $10,000 or more, you can provide your loved ones with the means to fulfill the advance payments often required by funeral homes. Offering this gift of financial peace of mind to your family is a heartfelt way to ensure that funeral costs are taken care of when the time comes.
Find a Final Expense Plan in Illinois
Let our knowledgeable team of agents with expertise in final expense insurance assist you in finding the perfect coverage that meets your needs, offering personalized help and a free quote when you call us today at (800) 398-9821.