September is Life Insurance Awareness Month and we urge you to take some time to evaluate your current situation and needs. But in this session I want to talk to you about not about traditional Life Insurance but something you could call Death Insurance otherwise known as Final Expense Insurance.
Life Insurance provides coverage for your family to take care of the lost income a family would suffer by losing a parent or spouse. Final Expense Insurance is something completely different. It is usually purchased by seniors who want to provide money primarily for funeral expenses and any small amount of debt they may have. At this point in their lives, the children are grown and gone, mortgages and other debts are paid off and the need for Life Insurance to protect assets and provide for the future is much less. Because there is less need of a high coverage amount, Final Expense Insurance usually provides a relatively low limit somewhere between $5,000 and $50,000.
One benefit is that most final expense carriers usually pay their claims within 24 hours making the money readily available to the family without having to dip into their own saving or assets.
The only certain thing in Life is that we all will die. Final Expense coverage can help your loved ones through a difficult time. Call us at John Andrade Insurance for all your Life Insurance and Final Expense Insurance Needs. Our staff can provide you with options from many carriers to create exactly the type and amount of coverage you need.