No one likes to think about their own mortality, but it’s important to have a plan in place for your final expenses. Final expense cover is a type of life insurance that can help your loved ones cover the costs of your funeral and other end-of-life expenses. In this blog post, we’ll take a look at some of the reasons why you should consider final expense cover as you get older.
1. Funeral Costs Are Rising steadily
The average cost of a funeral in New Zealand is now over $10,000. And that number is only going to continue to rise in the coming years. If you don’t have final expense cover, your loved ones could be left with a significant financial burden at an already difficult time.
2. Outstanding Debts
Do you have any outstanding debts that you would like to be paid off upon your death? If so, final expense cover can help ensure that those debts are taken care of. This can provide peace of mind for both you and your loved ones.
3. It’s More Affordable Than You Might Think
When most people think about life insurance, they assume that it’s too expensive for them to afford. However, final expense cover is typically much more affordable than traditional life insurance policies. This makes it a good option for those on a budget.
No one likes to think about their own death, but it’s important to have a plan in place for your final expenses. Final expense cover is a type of life insurance that can help your loved ones cover the costs of your funeral and other end-of-life expenses. When considering whether or not to purchase final expense cover, be sure to keep rising funeral costs, outstanding debts, and affordability in mind.