Final Expense life insurance, also called burial or funeral expense insurance, provides a death benefit to use for expenses like medical bills, credit card debt, and funeral costs, and maybe leaving something for your children and/or grandchildren.  

These are simple and affordable life insurance policies that can provide peace of mind and protect your loved ones from future financial burdens.

These policies have a smaller death benefit that ranges from $5,000 up to $50,000 and the coverage lasts for your entire life as long as you pay the monthly premium.  

Many of these policies are guaranteed issue which means there is no medical exam and limited health questions (if any).

In 2019, the average cost of a funeral was about $9,380

Here are Some Things You May Not Know About Final Expense Insurance

Final Expense Insurance does not require a Medical Exam in Order to Purchase.

So for those who have a medical condition that would prevent them from buying a regular term or whole life insurance policy, final expense could be a better option.

Death Benefit Does Not Have To Go Towards Funeral Costs

Most of the time the death benefit from final expense insurance is used for funeral related expenses, but it can also be used for other things.

It can be used towards paying off the rest of a mortgage or nursing home costs or leave some money behind to a beneficiary.

You choose whether the death benefit foes toward funeral expenses or not.

The Policy Does Not Expire

As long as the premiums are paid, the policy will NOT expire.

Final Expense Insurance is a type of permanent life insurance, the policy will be in effect until you die and your beneficiaries will receive the death benefit.

Get Peace of Mind

Many people decide to purchase final expense insurance as a way to financially protect their loved ones from expensive funeral and burial costs after they’ve passed away.

There is no charity or government organiztion that will pay off any debt yuo;ve accrued if you arrange a funeral that’s beyond your means.

Funeral homes are not required to let you pay for funeral costs in installments — and an increasing number are asking for payment in full up front.

Survived loved ones are often left to handle any end-of0life expenses and bills, which can add to the grief and stress many loved ones may already feel so final expense insurance is meant to prevent this added pressure.

Life Insurance can guarantee that your loved ones are provided with the money they need to give you a proper and dignified burial.

Unlike savings acounts, which are often stretched thin during hard times, life insurance provides a dedicated pot of money that your loved ones can use during this difficult time for anything the need.

It’s not limited to funeral arrangements.

Final expense insurance can be great fit for you if you’re looking for a relatively affordable inusrance policy that won’t expire.