The final stages in one’s life can be difficult and unpredictable. Final Expenses can cause a considerable strain on the shoulders of your loved ones that compound an already challenging time in their lives. Being prepared with final expense insurance ensures the burden doesn’t fall upon them any more than they need.

A fixed annuity is a type of insurance contract that promises to pay the buyer a specific, guaranteed interest rate on their contributions to the account. By contrast, a variable annuity pays interest that can fluctuate based on the performance of an investment portfolio chosen by the account’s owner. Fixed annuities are often used in retirement planning. Insurance companies or financial institutions offer fixed annuities for a lump-sum payment (usually most of the annuitant’s cash and cash-equivalent savings), or they can be paid for on a periodic basis while the annuitant is still working. The money that is invested in the annuity is guaranteed to earn a fixed rate of return throughout the accumulation phase of the annuity (when money is being put into it).

Let’s say you’re retired, no longer have life insurance through your employer, and don’t have an individual life insurance policy. You also don’t have a comfortable nest egg and are worried about the financial burden you’ll leave on your spouse and kids when you die. So you contact a life insurance agent and start the application process, including answering a few basic questions about your health. The death benefit is excellent, but the premiums are not affordable because of your age and health. Unfortunately, they don’t issue policies with a death benefit that’s small enough to make the insurance premiums fit your budget. At this point, you might give up and assume you can’t afford life insurance. This is where Final Expense Insurance comes in. Final expense insurance can cover a number of costs related to your funeral, obituary, medical bills, and much more.

It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.