Open care final expense plans1/8/2024 Generally, final expense policies are issued to people ages 50 to 85, but they can be issued to younger or older individuals as well. ![]() Legally, however, beneficiaries can often use the policy’s payout to pay for anything they wish. Instead of providing income replacement for loved ones (like most life insurance policies do), final expense insurance is meant to cover the costs associated with the policyholder’s viewing, funeral, and cremation or burial. Final expense insurance can help someone ensure their last wishes regarding their end-of-life ceremony and final resting place can be carried out by the loved ones they leave behind.įinal expense insurance can help someone ensure their last wishes regarding their end-of-life ceremony and final resting place can be carried out by the loved ones they leave behind.įinal expense insurance, also known as “burial insurance” or “funeral insurance,” is a type of permanent whole life insurance. In 2017, the national median cost of a funeral with a viewing and burial was $7,360, according to the National Funeral Directors Association. Depending on the situation and one’s personal preferences, they can actually cost thousands of dollars. Nobody likes to think about their own death, but the fact of the matter is funerals and burials aren’t cheap. You can also capitalize on a huge opportunity to maximize your book of business and create a generous new income stream! Ready to learn everything you need to know to start selling final expense insurance successfully? ![]() When you sell final expense insurance, you can provide your clients with the peace of mind that comes with knowing they and their families are prepared for the future. Eventually, we all have to think about how we’ll pay for a loved one’s, or even our own, end-of-life expenses.
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