How big these policies are
Most sit between 5,000 and 25,000 dollars. That is on purpose. It is meant to cover a specific bill, not replace an income.
Final expense basics
How Final Expense Works
Final expense is a small whole life policy bought to cover the costs that come after someone dies. Funeral and burial, a last medical bill, a car note, the travel a family does to get to the service.
It does not expire
Unlike term insurance, a whole life policy stays in force as long as the premium is paid. The premium is set when the policy is issued and does not climb as you age.
Two ways to get approved
Simplified issue asks health questions and usually skips the medical exam. Guaranteed issue asks no health questions at all, but almost always has a waiting period, commonly two years, before the full benefit pays. Anyone who tells you those two are the same thing is not being straight with you.
Who buys it
Most people who buy final expense coverage are between 50 and 85.
How the money gets used
The beneficiary receives cash and can spend it on whatever they need. It does not go straight to a funeral home unless the policy is set up that way on purpose.
What happens when you call
You talk with a licensed independent agent. They ask your age, your state and a few health questions, then tell you what you would likely qualify for. Nothing is applied for unless you say so.
Ready to talk it through?
A licensed agent is one call away. Weekdays, 9am to 10pm ET.
Call (888) 327-6146