What is final expense insurance?
Final expense insurance is a small whole life policy, usually between $5,000 and $50,000, designed to cover a funeral, burial or cremation, and any last bills. It is easy to qualify for, there is no medical exam, and the payment never goes up. It keeps your family from having to pay for your funeral out of pocket.
By Joseph Citrola, independent life insurance agent with Fastlane Financial. Licensed, NPN 20686856.
How it works
You pick an amount that would cover your final costs. You pay a fixed monthly premium for life. When you pass, the money goes to the person you name, usually within days, so the funeral can be paid without waiting.
Who it is for
Most buyers are between 50 and 85. It fits people who do not have other life insurance, or whose term policy has ended, and who do not want to leave a funeral bill behind.
Qualifying
Approval is based on a few health questions, not an exam. Many health conditions are accepted. Some plans accept everyone, with a waiting period in the first two years.
How I help
Prices and health rules differ from one company to the next. I compare the final expense plans I work with and find the one that accepts your health history at the best price.
Common questions
How much does a funeral cost?
In the United States a funeral with burial commonly runs $8,000 to $12,000. Cremation is usually less. A $10,000 to $20,000 policy covers most situations.
Can I get it with health problems?
Usually yes. Diabetes, high blood pressure and many other conditions are accepted by at least one of the companies I work with.
Does the price go up as I get older?
No. The price is set when you buy and never changes.
Want to know what this would cost you?
Three questions. Two minutes. No obligation.
Get my free quoteOr call (239) 297-6364