Final Expense Coverage is Life Insurance that equals the total sum of your Estate’s Final Expenses. This Type of Life insurance policy is meant to provide for the various things which are needed to get done when an individual passes. As many of you reading this may have experienced there are costs that come up when settling an Individual’s Estate. Government of Canada provides a Death Benefit however it maxes out at $2500.
What Types of things is Final Expense Coverage used for?
Funeral Costs : The average cost of a Funeral in Canada trends between $5000 to $15000. Options such as cremations may be a lower cost alternative. Your choice of the various extras that you can select as well your location may drive the price point.
Debt: This includes sole and joint debt. From credit cards to car payments, these all can be factored into the policy coverage.