I recently heard a heart breaking story about a young man who was riding on a side-by-side ATV with his girlfriend. They were having a blast doing donuts….until the ATV flipped and landed on her. The ATV was too heavy and she passed away. She was in her early 20s. I hear these stories all too often and my heart breaks for the families. It is especially heartbreaking when they are hosting events to raise money to pay for final medical bills and funeral expenses.

A final expense plan is such an important part of your financial plan. Losing a loved one is heart wrenching enough. You do not need the added financial strain on top of the emotional turmoil. A final expense plan is a life insurance policy that is purchased and paid for throughout your life. At time of death, a stated amount is paid to your beneficiaries. The benefit amount can be used to pay probate costs, funeral expenses, credit card debt, and other end of life bills. When you consider the cost of having to pay all of these things out of pocket, life insurance is such a reasonable cost. It is pennies on the dollar for the amount you receive in return.

The earlier in your life you purchase the coverage, the lower the premium. And, it also guarantees that you are insureable. The other benefit to purchasing it at a young age is if you are diagnosed with a terminal illness later in life, you can continue to renew the coverage.

Check with an agent to see what your options are for this type of coverage!