Ultimate Guide To Final Expense Life Insurance

Final expense life insurance also known as burial insurance is a type of simplified issue whole life insurance meant to help cover end of life expenses.

These types of plans are normally for clients ages 50-80. There is no medical exam required for and they go up to  $35,000 in coverage.

These plans are designed with seniors in mind. The underwriting is not as strict which allows clients to get immediate coverage even if they have some health challenges.

Insurance pricing is always based on age and health. Do not wait to protect yourself and your family. With funerals being the third largest expense in a lifetime you do not want to leave this burden on a loved one.We recommend working with a broker who has the capability of doing the shopping for you.

All of the carriers have certain niches in the market. This means that one carrier will not accept you for immediate coverage if you used insulin before the age of 50. Whereas, other insurance companies are more diabetic friendly. Working with a professional who is not a captive agent is paramount.

Key Points of Final Expense insurance:-Premiums will never increase
-Policy will never cancel
-Builds cash value
-Pays out quickly to beneficiary
-Tax free death benefit
-No medical exam

Giving yourself and your family peace of mind with a final expense plan is priceless.

Having a burial plan in place relieves your family of a financial burden and allows them to grieve. With a quick payout and no probate delays this is the best way to ensure the least amount of stress for your loved ones. Leave a legacy, not a burden.

We can customize the best options for you and your entire family.There are 4 plan options…    

⁃    Level benefit or immediate coverage plans are for people with less health challenges. They are lower risk therefore the insurance carriers will offer coverage that starts as soon as they make their first payment.
 ⁃    Graded benefit means that you will receive a percentage of the policy value in the first and second year. Full benefit would be paid out in the third year. An example would be 30% of the face amount paying out in the first year and 70% in the second year.
 ⁃    Modified plans still have health questions that need to be answered. It is return of premium plus interest in the first two years from sickness or natural causes. These plans will however pay out if the insured dies in an accident anytime after the first payment is made.
 ⁃    Guaranteed Issue plans have no health questions and are for people experiencing major health issues such as active cancer, dialysis, or oxygen usage. These plans pay back all of the premiums plus 10% in the first two years.In closing, the time is now to protect yourself and your family.

In the famous words of Ben Franklin, “in this world, nothing is certain except death and taxes.”