What is Final Expense Insurance?

Have you ever heard of final expense insurance? If you answered no, you wouldn’t be alone. Final expense insurance is a small whole life insurance policy that has a small death benefit; sometimes referred to as “burial insurance”.  As with any whole life policy, the premiums cannot increase and the death benefit cannot decrease. The policy is considered permanent.

Final expense life insurance policies are small in value and easy to qualify for. Policies are available without needing a medical exam, which makes it ideal for applicants advanced in age or with poor health. The death benefit is guaranteed as long as your premiums are paid and you don’t have a term policy.

These policies can range from $2,000 to $50,000. This allows the premiums to remain relatively small and fit most budgets. Final expense insurance is designed to cover expenses for a funeral or memorial service, embalming and a casket or even cremation. The death benefit is not taxable and the ultimate use is up to the beneficiary.

This policy typically has low death benefits, so you could lose money if you live a long time. Final expense insurance is not made to pay off a large mortgage, but to simply help cover bills directly related to your death. This makes this policy ideal for those older in age, already retired or those with serious health problems.

To find out more about this, it’s many advantages and other types of services, call Advanced Insurance Concepts today and Jim Rooney will work with you to find the answer. Advanced Insurance Concepts works with a variety of insurance companies and all Medicare Advantage providers in Missouri and Kansas. He is licensed to sell Health, Life and Accident Insurance, so call Jim Rooney for all your insurance needs.