FINAL EXPENSE INSURANCE
Protect Your Family
Final Expense Insurance is a type of life insurance specifically designed to cover end-of-life expenses, such as funeral costs, burial fees, medical bills, and other debts. It’s typically a smaller policy compared to traditional life insurance, with coverage amounts ranging from $5,000 to $25,000, which is generally enough to handle these final costs.
Here are some key points about Final Expense Insurance:
- Affordable Premiums: Because the coverage amount is usually lower than traditional life insurance, premiums tend to be more affordable.
- Simplified Underwriting: Often, applicants for final expense insurance do not have to undergo a medical exam. Instead, they answer a few health-related questions, making it easier to qualify.
- Whole Life Insurance: Most final expense policies are a type of whole life insurance, meaning they do not expire as long as the premiums are paid, and they accumulate cash value over time.
- Beneficiary Flexibility: The beneficiary can use the payout for any purpose, though it is typically intended to cover funeral expenses and unpaid bills.