Final Expense Vs Preneed

Pre-Paid Funeral vs Final Expense Insurance: Which one is a better choice for you?

When planning for the inevitable cost of your final expenses there are two common solutions, either Pre-paying a funeral home or getting final expense insurance to cover your needs. Here are some advantages and disadvantages of both options.

Pre-Paid Funerals

With this option you can pre-pay a funeral home to cover your burial.

Disadvantages

• The funeral home could go out of business/go bankrupt
• You are locked in to a particular funeral home and burial spot
• You could leave your loves ones covering some of the cost if the plan is not paid in full before your passing.

​Advantages

• Your price is locked when you pay
• Your family will not have to make any decisions at the time of your passing

Final Expense Insurance

These plans are specifically designed for individuals looking for a secure way to take care of their final expenses. With new state approved programs available, these plans are becoming not only easier to health qualify for, but also more affordable.

Disadvantages

• Family may have to make decisions if you have not expressed your wishes.

Advantages

• Whole life options with guaranteed coverage regardless of age or health and fixed premiums that will never go up.
• Peace of mind knowing that your family will not be financially responsible.
• Affordable monthly premiums without the need to drain your savings.
• Ability to leave funds to your love ones upon your passing.
• Some plans allow you to utilize your insurance benefits before your passing.

​​For more information about final expense programs or to see if you qualify for these affordable plans give me a call today!