Final Expenses Insurance
Whole life coverage-Final Expenses Insurance
- Permanent premiums: Your premium will never increase regardless of your age or health.
- Guaranteed death benefit: Your death benefit will remain the same even if your health changes.
- Guaranteed cash value: Value accumulates over time and is accessible to you.
- Policies are Simplified Issued: No medical exam is required, only a health questionnaire
- Immediate death benefit: Coverage is available on day 1 (if approved).
What are the benefits of Final expense insurance?
No Medical Exam
Certain types of life insurance require a medical exam, but not a burial insurance policy. Unless you have a serious pre-existing medical condition, you'll likely be able to get coverage.
Lower Premiums
Final expense life insurance rates start at just $45 per month, with coverage amounts ranging from $5,000 to $35,000.
Payment Flexibility
You get to choose if you want to pay your premium monthly or annually.
Quick Approvals
The application process is quick and easy, and coverage can be issued in days, sometimes even on the day you apply. Once you've been approved, your coverage starts immediately.
What does a burial insurance policy cover?
Burial insurance policies cover the costs incurred by the death of a loved one. There are several costs associated with a death, so having Final expense coverage is important. Some of the essentials covered include:
- Funeral arrangements, including embalming, casket, flowers, and services.
- Burial costs, including cremation, burial plot, headstone, and interment.
- Outstanding medical, legal, or credit card bills
Final Expense Insurance
-
What is Final Expense Insurance?
Final Expense Insurance, also referred to as burial insurance, covers end-of-life expenses including funeral arrangements and any remaining medical or legal expenses that will need to be settled by your beneficiary. This coverage can ensure that your loved ones aren't left with a financial burden, as the average funeral can cost $10,000 or more.
-
What is a death benefit?
A death benefit gives your loved ones money – typically, tax-free – that they may use to pay your Final Expense in the event of your death. This benefit is often referred to as ‘burial insurance’ or ‘funeral insurance.’ However, it is typically a feature in whole life insurance coverage rather than a separate offering.
-
Why buy Final Expense Insurance?
Final Expense Insurance is one of the most affordable types of life insurance — a Quick & rapid decision Final Expense policy through Providers starts at just $45 per month. Plus, the approval process is quick and easy. You may even start your coverage on the same day you apply.
How do I know if my beneficiary will use the payout for my funeral?
Once the funds have been paid out to your beneficiary, they can use the money any way they want. If there are funds remaining after paying for all funeral-related matters, the beneficiary may use the balance to pay outstanding medical, legal, or credit card bills in your name. Just be sure you choose someone you can trust to allocate the funds properly.
Explain Guaranteed death benefit & Guaranteed cash value beneficiary gets on maturity of Final expenses policy.This can be explained with an example say if Mr. Jones got a final expenses insurance at the age of 66 and his death benefit coverage is $10,000 & his monthly premium $63.58 which is $762.96 annually & if died at age 85 his beneficiary can receive guaranteed death benefit $10,000 plus guaranteed cash value $5,578.60 so total beneficiary will receive $15578.60 approximately as long as insured has paid his monthly premium till his death.