The typical burial service costs between $7,000 to $12,000.
In addition, your family may be responsible for your final medical expenses and estate administration legal fees.
Would you like to take care of these expenses for your loved ones?
In retirement, you could accomplish this with a modest life insurance policy.
In contrast, you may not require life insurance in retirement if you have sufficient savings and prepay your funeral while you are still alive.
Do You Have Debt?
Ideally, you will not have any debt when you reach retirement age, but this is not always the case.
Truth be told, in excess of 10 million Americans beyond 65 a 2021 years old home loan in 2021.
A 2018 report expressed that 46% of property holders age 65 and more established still conveyed a home loan and 32% of individuals over the age of 70 were all the while making house installments in 2019.
