Protect Your Loved Ones with Final Expense Life Insurance

It’s worth it to get final expense insurance if you would like to leave your family dedicated funds to cover your end-of-life expenses. Here are a few common reasons why people choose final expense policies over other options:

• If you are a senior who is planning for end-of-life expenses and does not have another permanent life insurance policy
• If you have a pre-existing condition that makes other types of life insurance unaffordable
• If your estate will not cover the costs of your desired funeral arrangements
• If you want to plan your memorial service, burial, and other arrangements

Final expense insurance offers your family peace of mind in planning the funeral, memorial service, and burial or cremation you desire. It can also help them settle expenses related to final medical bills or settling your estate.

Because final expense is a type of life insurance with a relatively low death benefit and does not require applicants to pass a medical exam, most people will qualify for final expense insurance. However, final expense insurance is often recommended for individuals between the age of 60 to 85 who are ready to plan for end-of-life expenses.

The answer to this question depends on your personal goals for your life insurance. If you have term life insurance, the death benefit can be used in the ways your beneficiaries see fit, including covering any funeral or medical bills.

However, term life policies are usually intended to cover the loss of income your family might face if you are a primary wage-earner. Because of this, you may decide that you would like to supplement your term life policy with final expense insurance to allow your family to use the entire term life benefit to cover their living expenses while using the separate final expense funds to cover pricey, unexpected end-of-life costs.

Read more on if you need a final expense policy >