Final Expense Insurance/Burial Insurance

Final Expense Insurance (also commonly referred to as burial insurance) is a type of life insurance that provides basic coverage for funeral costs, final medical bills, debts, other any other final financial needs. Because these policies are considered life insurance they work just like a traditional life insurance policy – once the insured dies the policy will pay the amount of the insurance policy to a predetermined beneficiary. The beneficiary can use the proceeds from the policy to cover any expenses or needs of their choosing.

Typically, final expense insurance policies have relatively low face amounts between $1,000 and $50,000 and are available to persons 50 to 85 years of age (actual ages may vary from carrier to carrier). The policies are great for seniors and for people with preexisting health conditions because most final expense insurance is guaranteed issue. This means that usually there are no medical questions and no medical exam required to qualify for coverage.

Premiums for final expense insurance is often times less expensive than a traditional life insurance policy and can offer the protection your family needs.