Final expense is a type of life insurance policy. Seniors between age 50 and 85 can purchase $2,000 to $25,000 or more in coverage to help cover the costs of their funeral and cremation or burial.
Final expense is easy to qualify for!
There is no medical exam, and you simply have to answer a few health questions. If you have multiple pre-existing conditions and would not qualify for a standard/simplified issue policy, our advisors can match you with a guaranteed issue final expense policy.
Guaranteed issue policies ask no health questions and offer automatic acceptance. Premiums are slightly higher than the standard policy, and you may have a waiting period of two years before the full death benefit is paid. If you pass away within those two years, your beneficiaries receive the premiums you paid plus interest.
The death benefit is the coverage of a final expense policy. This is the amount you select when you buy the policy, and is usually between $10,000 and $20,000. When you pass away, your beneficiaries receive the death benefit as a cash payment.
The death benefit is that amount on purpose. Why? Final expense is meant to pay for the costs of your final arrangements, and funerals cost between $7,000 and $12,000, on average.
If you choose a death benefit that covers more than the cost of your memorial, your loved ones can keep that money. In fact, they can use the entire amount however they choose, without any restrictions.
An important advantage of the smaller death benefits of final expense is that you get to pay smaller premiums compared to typical term life or whole life insurance policies.
Seniors choose final expense policies to plan ahead for the future and to care for their families’ peace of mind. With the costs taken care of, your loved ones can focus on what matters most.Take charge of your future by purchasing final expense insurance. Our team at USA Final Expense Advisors will work with you to secure your family’s peace of mind. If you are looking for a final expense policy, start here!