What is final expense insurance?
Final expense insurance is an insurance policy used to pay for burial expenses and funeral services when the named insured dies. Such a policy helps ease the financial burden placed on a family when a loved one dies.
More about final expense coverage
Final expense insurance is a basic issue life insurance policy that covers people until they reach 100 years old. It is quite similar to universal life insurance and is sometimes referred to as graded life or burial insurance with easy-issue permanent coverage.
As an inexpensive choice, final expense coverage can be used to cover the funeral and burial costs of the policy holder. Most people who do not want to place a hardship on their families with these costs will take out a burial policy.
Burial premiums can begin at a higher cost than other forms of insurance because they include cash value features. An important advantage is that those premiums are fixed — they remain the same even if your health deteriorates.
Final expense coverage can pay for the casket, funeral service, visitation or viewing, hearse, digging and filling the grave, the cemetery plot, the burial vault or grave liner, the minister, the headstone, flowers, and other expenses related directly to the named insured’s funeral.
Talk to us about the right final expense coverage for you.