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Final Expense Insurance
What is Final Expense Insurance?
Final expense insurance covers burial expenses, and indirect costs that we never think
of until after the death occurs.
The cost of settling an estate, which can include hospital and doctor bills,
outstanding credit, funeral and cemetery expenses, can be expensive. As a result,
many Americans find themselves without adequate financial resources.
A Final Expense life insurance policy assures you coverage for the rest of
your life and also gives those you leave behind the
freedom and flexibility to pay the remaining expenses and debts that may be outstanding. This
makes a Final Expense policy different from a burial protection policy
exclusively covering burial costs. Final Expense polices allow you to
choose the coverage amount appropriate for your circumstances. You can tailor the policy to
your personal needs. Final Expense policies are simplified, meaning
there is a short application and no medical exam.
Final Expense policies have three important characteristics:
- The life insurance coverage is permanent
- Life insurance premiums never change
- The life insurance policy accumulates cash value
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