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Questions and Answers About Final Expense Insurance.


What is Final Expense?

A final expense life insurance policy provides the means to pay for the cost of a funeral, burial, and other expenses considered to be one’s “final expenses.” You might know these policies as “burial” or “funeral” insurance. The typical face amount of a final expense policy is between $5,000 and $50,000 per policy.

How Does Final Expense Work?

A final expense insurance policy is like most other typical life insurance policies. A premium is determined based on the desired face amount and other factors gathered during the application process. The policy owner designates a beneficiary or beneficiaries to receive the benefit proceeds.

As with traditional life insurance policies, a final expense policy can be either term or permanent. A term policy usually provides coverage for 10 to 15 years, sometimes 20 years at which time it expires. If the insured passes away before the term expires the beneficiary receives the proceeds.

On the other hand, a permanent policy is a whole life policy where a cash value can accumulate over time on a tax deferred basis. A permanent policy will never expire as long as the premiums are paid. We provide our clients with whole life policies providing greater value than term policies.

With a final expense policy you will usually pay lower premiums than with other traditional life insurance policies, medical issues are considered less during the application process, and you can pay the premium through easy monthly installments.

Do I Qualify?

A final expense life insurance policy application will ask some questions regarding your health and medical status, but you will not be required to take a medical exam in order to apply for coverage.


Why Purchase Final Expense?

Having a final expense insurance policy enables you to complete your own burial plans. Even so, the best reason is the peace of mind you have by knowing in the event of your death your loved ones will be able to carry on without you; settling your financial affairs and still have funds left over to keep their current lifestyle without future hardships and financial challenges.