Final Expense
Funeral & Final Expense Life Insurance almost always comes in the form of a Simplified Issue Whole Life Policy, usually with a death benefit under $50,000, although they can be bigger. It is designed to help cover the costs associated with a person’s funeral or cremation and other end-of-life expenses. This type of insurance policy is typically purchased by older individuals who haven’t secured any other life insurance and they are concerned about leaving behind financial burdens for their loved ones.
The tax free Death Benefits will always go to the beneficiary and they can control how the money is used.
Some key benefits to Final Expense Policies include:
Cost-effective
Final expense insurance policies can be affordable with a very basic plan, making them an attractive option for individuals who are on a tight budget. If you are used to paying for a cable bill, you can pay for a final expense policy.
Ease of application
Obtaining Final Expense insurance is often a straightforward and easy process, typically with minimal underwriting requirements. There are a wide variety of options depending on your situation. There are even no medical exam and even Guaranteed Issue Options available, meaning no matter what your health situation is, you can still qualify for coverage, even with an affordable price.
Peace of mind
in 2024, the average full service funeral cost $12,000, in some areas they are closer to $18,000. By purchasing a final expense insurance policy, individuals can rest assured that their loved ones will not be burdened with the financial costs associated with their funeral and other end-of-life expenses.
Customizable coverage
Final expense insurance policies can be tailored to meet the individual needs of each customer, ensuring that they have the coverage they need at a price they can afford. There are various riders and living benefits that some policies can include which would provide benefits to you while you’re still alive is you experience a critical event or terminal illness.
How Can We Help?
No one likes to think about their own death, but it’s important to have a plan in place in case the worst happens. We offer a variety of final expense insurance policies to fit your needs. We can help you choose the right policy and terms for you.
The death benefit from a final expense policy can help your loved ones cover the cost of expenses like a funeral or memorial service, embalming and a casket, cremation, hospital bills, and other immediate expenses after death. These benefits are quickly paid in a lump sum tax free payment to your beneficiaries.
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States We Currently Serve:
Washington, Arizona, New Mexico, Texas, Oklahoma, Nebraska, Michigan, Ohio, Tennessee, South Carolina, Florida