Final Expense

Protect Your Loved Ones Against Final Expense Costs

As you transition into retirement, your focus will move from making money to preserving it. With this shift comes the inescapable task of preparing for the end.

Final expense, also called burial insurance, is a type of whole life insurance that helps cover your important end-of-life expenses, like funeral costs and unpaid medical bills.

Somebody must pay for these things. Let’s not leave your family in a tough spot when they probably have bills of their own.

What Is Final Expense Insurance?

If you’re looking for a way to make sure your costs are taken care of even when you’re no longer around, final expense can give you and your family peace of mind.

When you purchase a final expense policy, you agree to make monthly payments in exchange for a sum of money to be distributed on your behalf when you pass away. This is called the death benefit, and it can be anywhere from $2,000 to $50,000.

Why Final Expense Insurance?

  • Easy Application
  • Life-long protection
  • Predictable premium
  • Access the cash value

Who Needs it?

Many seniors had life insurance through work and many others had term life insurance and it’s expiring. These people, now retired, may have also recently lost a spouse or family member and realized that life insurance is still important. If this sounds like something you’ve experienced, consider final expense.

Remember: It’s not for you—it’s designed to make life a little easier, financially when your loved ones will already be dealing with grief.

What Can the Money Be Used for?

This money will go to a person or people of your choice, called your beneficiaries. They will use this money for any purpose, although it typically helps with your funeral arrangements—which can cost thousands of dollars. By the way, Social Security only pays a death benefit of $255 to qualifying (surviving) spouses. You can see that money won’t help much.

View of a lady's hands holding a credit card and making a purchase on a computer

Then, if you have extra room in your policy, you can also use it for things like credit card payments, estate taxes, and more.

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Types of Final Expense Policies

There are two ways to qualify for a final expense policy.

Simplified Issue

The first is simplified issue final expense. Unlike other life insurance policies, you can be up to 85-years-old with pre-existing health conditions and still get approved for coverage.

Guaranteed Issue

The other is guaranteed issue. This means you qualify even if you have Parkinson’s disease, cancer, or another serious medical condition. It’s rare for anyone to ever be denied.

Here to Help You!

If you’re between the ages of 50 and 85, it’s time to think about your legacy—and how you want to be remembered. I will make sure you get the right final expense coverage at a price you like. Call today.