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What is Final Expense Life Insurance?
  + stars: | 2024-04-26 | by ( Ronda Lee | Alani Asis | Paul Kim | ) www.businessinsider.com   time to read: +11 min
If you already have life insurance, consider adding funeral or burial insurance, also known as "final expense" insurance. Final expense insurance, also called burial or funeral expense insurance, covers end-of-life expenses like the funeral service, body preparation, cremation, the casket or urn, transportation, etc. Types of final expense policiesBesides term and permanent life insurance, final expense insurance comes in several forms. Final expense life insurance is for those who might be in poor health and can't qualify for traditional life insurance. Final expense life insurance FAQsWho should consider final expense life insurance?
Persons: you'll, It's Organizations: AARP, Consumers Alliance, Colonial Penn, Mutual, Life Insurance, Chevron Locations: Colonial, Omaha, Illinois
More and more Americans are choosing to move away from the traditional burial process after they die. As the 2022 NFDA Cremation & Burial Report explained, "Typically, cremations cost 40% less than funerals with burials." As of 2022, the aquamation process, also known as alkaline hydrolysis, is legal in 24 states and legislation to legalize it is circulating in several other states. But while these two innovative funeral homes offer their price lists on their websites, they are not required to. The potential rule change is also being monitored by the Funeral Consumers Alliance, which has been pushing for the change for decades.
Persons: Jack Mitchell, cremation's, Mitchell, Sara Williams, Hunter Beattie, Beattie, aquamation, Spade, that's, We're, Williams Organizations: Service, Federal Trade Commission, Director's, Public Religion Research Institute, Kaiser Family Foundation, Census Bureau, Consumers Alliance, Directors, FTC Locations: Wall, Silicon, North Carolina, aquamation, Washington
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