Final expense insurance, commonly known as burial insurance, actively reduces the financial stress your loved ones could endure after your departure. Typically, these costs cover medical bills, funeral expenses, and other end-of-life necessities. Sadly, even the simplest funerals can amount to thousands of dollars. Hence, this crucial insurance offering serves as a pillar of support, providing peace of mind and allowing your family to concentrate on honoring your memory, free from the worry of sudden financial responsibilities.
Final Expense or Burial Insurance
Why would anyone need Final Expense Insurance?
According to LIMRA, upon death, loved ones will face the most emotional and financially difficult moments in their lives. Funeral costs rank in the top 3 most expensive costs Americans will pay in their lifetime. 2 out of 3 people are unable to pay their final expenses. Fortunately for loved ones, this burden can be offset with insurance.
Consider the astonishing statistics presented below. Insurance isn’t merely a necessity for the elderly, but rather for all age groups. However, many individuals remain underinsured, often not due to a lack of need, but rather because the process of purchasing additional coverage is too perplexing. Additionally, many lack sufficient coverage simply because no one initiates a conversation with them about the possibility of enhancing their protection.
Lionheart Advisors, LLC has agents who offer these policies. If you’re interested in purchasing insurance feel free to contact us. If you wish to join our team, apply today!
The numbers
TAKE A LOOK AT THE BIG PICTURE
there are over 40 million seniors today & that number is estimated to double in 20 years
40M
On a daily basis, there are over 10,000 people turning 65 year old and qualify for these benefits
10K
63% of individuals purchased life insurance to cover funeral costs & other funeral expenses
63%
only 44% of americans have individual life insurance – 50% say they don’t have enough
50%