Final Expense Life Insurance
By definition, a final expense policy is a Whole Life Insurance Policy, but it is designed specifically for those in the 50 – 85 age category. Commonly, the purpose of a Final Expense policy is to provide money that will help pay fora funeral and/or other expenses related to your death. You might be looking to help cover your own funeral expenses or maybe those of your parents or another relative. A few years ago while I was coaching my youngest son’s baseball team, I was in the dugout before a game and one of the father’s told me that he sadly, had buried his mother in law over the weekend. She had been suffering from a protracted illness so her passing was not a surprise. He said that he spent enough money on the funeral to buy a new car. He then said, “everyone should have one of those policies that’s designed to pay for a funeral.” I couldn’t agree more.
These policies feature:
Easy Application – Physicals are not required and most companies conduct a phone interview at the time of application. Even if you’ve had some health issues in the past, don’t count yourself out until we talk about the many companies and plans we have available.
No Waiting Period – If you can answer NO to all> questions on the applications, your death
benefit will be put in force right away. Of course as with all life insurance policies, the insurance company reserves the right to ensure that a death in the first two years was not due to suicide or that there was no material fraud on the application.
Affordable Premiums – I have found that I am almost always able to find a death benefit and premium amount that will work for most people.
How Much Does it Cost?
One quick way to get a good idea how much a Final Expense policy might cost is to go to back to our home page. Once there, you can use the quote calculator to preview an unlimited number of options without first entering your contact information.
Enter face amount: $5,000 to $25,000
Choose Type of Insurance: To Age 121 Level (No Lapse U/L)”
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