What is Final Expense?

What is Final Expense?

Are you concerned about how your loved ones will afford to pay for your funeral and related expenses? Don’t be. You can use final expense insurance to ensure that those costs are totally paid for after you die.

Final Expense Insurance Policies

A final expense insurance policy can provide you with easily accessible life coverage. If you enroll in a final expense policy, you will be entitled to death benefits when you die. These benefits can be paid out to your family members or any other beneficiary you choose, as long as you continue to pay your premiums up until your time of death. Your death benefits can be used to pay for funeral costs or anything else your beneficiary needs to pay for.

How Does Final Expense Work?

Final expense works the same as any other life insurance policy, except you won’t have to undergo a medical exam to qualify. This means final expense insurance is easier to qualify for than traditional life insurance options, like term-life and whole life insurance. However, most final expense policies will require you to answer some medical questions before enrolling in their policies.

Qualifying For Final Expense Insurance

To qualify for final expense insurance, you must answer your insurer’s health questions. These questions will not disqualify you from coverage, but they may dictate how much coverage you are eligible for and the types of plans you can access. If you are unable to qualify for a normal final expense policy, a guaranteed issue policy may be your only choice. Guaranteed issue policies are final expense policies that accept all applicants, regardless of their health condition.

Final Expense Costs

Final expense insurance typically costs between $30 and $60 a month. Some plans may be cheaper, while others will be more expensive. Guaranteed issue final expense insurance is certain to be more expensive, as these plans cover individuals with a higher risk of death. To get the best deal on final expense insurance, you should work with a licensed insurance professional in your area.

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Shop Final Expense in Lithia, Florida

Don’t wait to get insured. Final expense can protect your family if you happen to suffer an unexpected death. To start shopping for coverage in your area, contact Michele Bartock at MB Insurance Solutions. You can reach me at 813-767-2878.