The term “Final Expense” is thrown around a lot these days. While it is true that any form of life insurance can take care of any expenses we leave behind, it is important to understand what final expenses are and how they fit into the equation of life insurance.

Regardless of what our retirement investments are like, and no matter what savings we plan to leave our families when we’re gone, we’re all going to have funeral and burial expenses. With these costs continue to rise, you may be surprised of the burden that can be left behind on our family and loved ones to take care of these final expenses.

A final expense program is a tax-free way your family can cover those expenses without dipping into savings or investments. A final expense policy can cover: burial plot, funeral home charges, cremation, flowers, professional charges, airline tickets for out of town guests, hospital bills and other debts.

Even if you have a life insurance program in place, it is wise to have a plan set just for final expenses. Other life insurance plans are generally larger and designed to take care of bigger expenses, such as the mortgage, college funding, income continuation and other outstanding loans. Why not have a plan designed specifically for final expenses? Leave the bigger policies with the family to take care of the larger, ongoing expenses and have a smaller plan the family can take to the funeral home.