Final Expense Insurance

Final Expense Insurance is a life insurance policy purchased for the purpose of paying one’s final expenses. With the high cost of funerals, no one wants to burden their family with the responsibility of  paying for their final arrangements. The specific purpose of Final Expense Insurance is to save your loved these high costs by paying for many of the costs associated with funerals. 

Final Expense Insurance differs from traditional life insurance.  A traditional life insurance policy typically carries a high face value, anywhere from $250,000 to $1,000,000 of coverage. Final Expense Insurance carries a much lower face value, because it is intended to only cover the costs of a person’s final arrangements.  The face value of a typical policy might range anywhere from $5,000 to $50,0000.

 Final Expense Insurance is available to almost anyone! It is often purchased for someone who does not already have a regular life insurance policy in place. Many times a policy can be issued without the designated insured having to submit to a medical exam.  Final Expense Insurance is a good fit  for those with health issues. Even those who are “uninsurable” with some companies may be able to qualify for a Guaranteed Issue policy!

 These no-exam policies contain higher rates for the insurance, but are still less expensive to buy than regular life insurance because of the low face value of the policy.

 In many cases, a Final Expense Insurance policy is purchased by the children of the intended insured.  Adult children realize that they may be responsible for elderly parents.  A relatively inexpensive Final Expense Insurance policy helps them to fulfill this responsibility.

 If you don’t have regular life insurance, a Final Expense Insurance policy may provide a good solution for paying for your funeral costs. Compare your options between the purchase of traditional life insurance and Final Expense Insurance.

Give me a call at 702-684-7598  for a complimentary consultation.