What is final expense insurance?
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Final expense insurance is a type of permanent life insurance designed to help cover funeral costs, final medical bills, outstanding debts, and other end-of-life expenses. Your beneficiary generally receives the benefit income-tax free and can typically use the money however they choose.
How much does final expense insurance cost?
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Final Expense premiums can vary based on age, sex where applicable, health and underwriting, tobacco use, coverage amount, benefit structure, insurer, and other product rules. Generis publishes educational sample pricing in the
Final Expense Insurance Rates guide, while a personal quote requires current application information.
Will my health prevent me from getting coverage?
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Not necessarily. Many final expense plans require only a few health questions, and some options are available even for people with diabetes, heart conditions, COPD, previous cancer, or other common health concerns. Every insurance company has different underwriting guidelines, which is why comparing multiple insurance companies can help identify the options available for your situation.
Is a medical exam required?
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For many plans, no. Many final expense policies do not require blood work, lab tests, or a physical exam. Qualification is often based on a short health questionnaire.
Does my coverage ever expire?
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No. Final expense insurance is permanent life insurance. As long as your premiums are paid, your coverage remains in force for your lifetime.
Can my family use the money for something besides funeral expenses?
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Yes. Your beneficiary generally decides how to use the benefit. It can help pay for funeral costs, medical bills, credit cards, household expenses, mortgage payments, or anything else your family needs.
How quickly can coverage begin?
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Depending on the policy and your situation, coverage can often begin the same day your application is approved. Kirt will walk you through the process and explain the available options.
Is there any obligation after my complimentary review?
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Absolutely not. Your complimentary review is simply an opportunity to learn about your options, ask questions, and compare coverage. There is never any obligation to purchase a policy.
What's the difference between Final Expense and Term Life Insurance?
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Final expense insurance is permanent life insurance designed to help cover end-of-life expenses. Unlike term life insurance, it does not expire after a set number of years as long as premiums are paid. Final expense policies are also often easier to qualify for and are designed for smaller coverage amounts focused on protecting loved ones from financial burdens.
