The first days after you pass can add emotional and financial stress to your family. Many funeral services require payment before the funeral is held. Your family may have to pay those costs out-of-pocket if your major assets are unavailable. And, if you own your home, it could take even longer for your family to gain ownership, sell the home, and realize the proceeds from the sale. Final expense life insurance is a type of whole life insurance issued by Sagicor that provides your family with a cash benefit at
The National Funeral Directors Association estimates the average price of a funeral to be $8,500. And, your family might have trouble picking up that extra expense out-of-pocket.
Final expense life insurance can help your family:
If you have a life insurance policy through your employer, it may not go with you when you retire. With final expense life insurance, your coverage and rate are locked in for the life of the policy.
Since age is one of the major factors in determining your rate, the monthly cost is highly likely to increase the older you get. So, simply put — you could save money by getting covered
Skip the trip to the doctor or lab for bloodwork. Just answer a few simple health questions online. And, since final expense life insurance is a type of permanent life insurance, you’ll never need a medical exam for the life of your policy.
Access to proceeds of life insurance you may have with your employer can take time, so your loved ones may be responsible for covering your funeral costs out-of-pocket. Final expense life insurance pays out quickly. Death benefit proceeds are income tax- free, and there are no restrictions on how the money can be used. As long as the premiums are paid as scheduled, the death benefit proceeds are guaranteed.
Download your FREE copy of our e-book
“Your End-of-Life Plan: 8 Things You May Need to Do”.