Final Expense Insurance
A thoughtful way to help your family with the bills left behind.
What it is
Final expense insurance is usually a smaller whole life policy designed for adults ages 50 to 85. Available ages and coverage amounts depend on the carrier and state.
Your beneficiary receives money they can use for funeral or burial costs, medical bills, or other needs. It is not limited to a particular funeral home.
What it does
- Offers smaller face amounts suited to final expenses.
- Provides level premiums that do not increase under the policy's terms.
- Can remain in force for life when required premiums are paid.
- Lets your family decide how to use the benefit.
Who it fits
- Adults ages 50 to 85 who want help covering final expenses.
- Families looking for a manageable premium and a smaller benefit.
- People who prefer a simpler application process.
Things to weigh
- Simplified issue options ask health questions and may not require a medical exam. Approval is not guaranteed.
- Guaranteed issue options may be available without health questions, but often have a waiting period or limited benefit for death from natural causes in the early years.
- Rates, age limits, benefit amounts and eligibility vary by carrier and state.
- Compare the full cost, any waiting period and the benefit before choosing.
Common questions
Is final expense the same as burial insurance?
These names usually refer to the same type of smaller life insurance policy. Your beneficiary can use the benefit for burial costs or other needs.
Will I need a medical exam?
Many options do not require an exam. Simplified issue policies ask health questions. Guaranteed issue policies may skip those questions but have different costs and waiting periods.
Will my payment go up?
Level premium policies keep the same scheduled payment. Tony will explain the exact terms before you apply.
Not sure if final expense is right for you?
A consultation takes about twenty minutes, costs nothing, and looks at your actual situation before anything is recommended.
Also worth a look
Term Life Insurance
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Whole Life Insurance
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Indexed Universal Life
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Annuities
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