Final Expense

Final expense, or burial policies, are promoted heavily to seniors and those in low income area's. But does everyone need a burial insurance policy? These are nothing more than small face amount life insurance policies, usually $10,000 or less in death benefit, that come with a relatively high premium. 

Sometimes the high premium is justified, especially when the individual applying for life insurance has health issues. But many people would be better off by joining a funeral society than paying hundreds or thousands of dollars on a life insurance policy.

Funeral Society may eliminate need for burial insurance

The Funeral Consumer Alliance is a society that offers low cost funerals on a prepaid basis. The Georgia affiliate is the Memorial Society of Georgia.

According to their website, prices for cremation or a simple funeral is as follows.

Simple Cremation……………………………………No greater than $1095.00 Includes transportation of the body to the funeral home, a simple cremation container and filing of paper work.

Simple Burial…………………………………….No greater than $2,050.00 Simple Burial includes removal of body; care, dressing and casketing of body; filing of paper work; transportation to cemetery. A cloth covered casket is included.

Before you buy a final expense or burial insurance policy, we encourage you to review options through a funeral society. 

Do I need a testamentary will?

Some question if they need a last will and testament. They feel their estate is so small, a testamentary will is unnecessary.  If you would like to get an idea of "who get's what" when you die, check out this intestacy calculator.