3 Reasons You Need to Consider Final Expense Life Insurance

December 15, 2022

If you don’t currently own any life insurance at all, final expense life insurance may be a budget-friendly option to potentially help cover the cost of funeral arrangements and other end-of-life expenses your family could be faced with if you were to pass away. However, even if you do already have life insurance coverage, you may still want to consider adding a final expense policy. Let’s talk about why

Legacy

Other than offering increased peace of mind, which of course is no small thing, life insurance isn’t really designed to benefit you as the owner, it’s designed to benefit the people you love. It’s a promise to do everything you can, even after you’re gone, to take care of the people who depend on you.

Supplementing your current life insurance coverage with final expense life insurance means that more of the total benefit may go toward that goal of “taking care.” Final expense life insurance may help cover the significant cost of a traditional funeral ($8,000-10,000 in the U.S.) and other end-of-life expenses while leaving the remainder of your life insurance benefits to help fund your family’s continued quality of life.

Another thing to remember is that final expense life insurance death benefit proceeds can actually be used for any purpose, so if your funeral costs are covered, any funds leftover would simply belong to the beneficiary.

Accessibility

From start to finish, final expense life insurance offers the option of greater simplicity. For example, a medical examination isn’t typically required – just answer a few health questions from the comfort of your home.


When it’s time to put that coverage to use, we have your back: While other assets and insurance policies may take more time to liquidate or claim, final expense life insurance is designed to provide faster access to the death benefit proceeds during the first few days that follow the loss of a loved one.

A Conversation Starter

Another possible positive side effect of purchasing final expense life insurance is that it could inspire you to talk more openly with your loved ones about your end-of-life wishes. It’s an important conversation and one that many of us avoid. Having a plan in place could help you and your loved ones focus more on the peace and empowerment that comes with saying a meaningful goodbye.

Life Insurance Tips

3 Tips for Talking to Your Partner about Life Insurance

Life may be beautiful, but chances are, life is also busy...so when you and your partner finally

December 15, 2022

Life Insurance Tips

7 times in life when it's important to adjust your life insurance policy

Sure, you have life insurance now, but did you know you should review it every so often, and

February 14, 2022

Life Insurance Tips Customer Portal

5 helpful (and easy) things you can do on the Lumico customer portal

Insurance should make your life easier—not more complicated. After all, don’t you have enough on

May 31, 2022

What else can we help you with?