Final Expense Life Insurance gives you the ability to have funds available when your family needs it the most. In a critical time, this type of Life insurance is going to provide your family a priceless peace of mind and financial stability.
Our Final Expense insurance plans are custom-made to meet your needs and financial means. Our representatives are ready to help you, once you submit an inquiry that will generate a free quote.
What is final expense insurance?
Final expense insurance is most often a type of individual life insurance which is permanent life insurance used to cover medical costs and other end-of-life expenses, most often funeral and burial costs including services, items (like a casket and hearse), and/or cremation.
Permanent life insurance does not expire and is more expensive per unit of coverage than term life insurance, which runs for a specified amount of time before ceasing. Permanent life insurance remains in force for as long as the premiums are paid.
Final expense insurance has a lot in common with guaranteed issue. Unlike traditional life insurance policies, which require an investigation into your health – including a paramedical exam – guaranteed policies don’t require such in-depth research and applicants will often be insured after answering only a few questions.
Each carrier has their own set of questions, but most carriers will ask around 10 health questions, and complete a Prescription Drug Check. Final expense insurance can be issued in under a week, we often see policies being issued between 5 to 7 business days.
Some funeral homes will accept an assignment of the insurance policy payout. This means that the proceeds will go directly to the funeral home to cover the cost of the funeral. (The beneficiary will receive any money over the cost of the funeral.) When you’re making arrangements, make sure to ask about this and don’t assume that the funeral home will accept this sort of payment method; some funeral homes require payment upfront and won’t wait until the final expense insurance policy pays out.
Our main carriers for Final Expense Coverage are Mutual of Omaha, Transamerica, Gerber, Foresters, Assurity Life, Columbian and Companion Life.
We will run a quote and send the top three carriers to you, please fill out the quote form to the left.