Final Expense
Final expense life insurance, or burial insurance, provides enough coverage to pay for end-of-life expenses like medical care and funeral costs.
Life insurance provides your loved ones with an income replacement if you are no longer around to provide for them. When you’re a senior or retired and you don’t have dependents anymore, you might not need traditional life insurance coverage. However, there is still one big cost you need to plan for: your funeral.
A funeral can cost anywhere from $8,000-$12,000, not including other end-of-life expenses such as medical bills. These can end up falling on the shoulders of loved ones and cause a financial strain.
That’s where final expense (or burial) insurance comes in. If you’re looking for life insurance coverage that can cover the cost of your death and funeral arrangements, final expense insurance may be right for you.
No matter what
your budget or health concerns, there is a plan
available for you.
What is Final Expense?
Final expense insurance is a type of permanent life insurance intended to cover funeral expenses. The death benefit is usually used to pay for final medical bills and other end-of-life expenses, like burial or cremation , items like caskets and urns, and more.
Like other permanent life insurance, burial insurance never expires and remains active as long as you pay your premiums. But, unlike most traditional permanent life insurance policies, which require a medical exam to determine the cost of your policy, you’ll only need to answer a few questions to qualify for final expense insurance.
Benefits of Final Expense Life Insurance
-
Premiums remain level and may be payable beyond age 100.
-
The death benefit is guaranteed as long as premiums are paid.
-
You can choose between monthly or annual premium payments.
-
The cash value of the policy accumulates tax-deferred.
Final Expense Companies
Contact a licensed Life specialist from The Integrity Group to discuss which Final Expense plan is best for your needs.