Our licensed insurance agents can help you compare multiple types of life insurance coverage including term life insurance, whole life insurance, final expense insurance, and guaranteed issue policies. Each type of coverage serves different needs and budgets. Term life provides affordable coverage for a specific period, while whole life offers permanent coverage with cash value growth. Final expense insurance is specifically designed to cover funeral and burial costs, typically ranging from $5,000 to $50,000 in coverage. All policies can be tailored to meet your specific needs and budget.

Final expense insurance offers several key benefits. First, it ensures your loved ones won't face financial burden from funeral and burial costs, which can easily exceed $10,000. Second, many final expense policies offer guaranteed acceptance with no medical exam required, making coverage accessible for seniors aged 50-85. Third, premiums are typically affordable and remain level throughout your lifetime. Finally, benefits are paid directly to your beneficiaries quickly, often within days, providing immediate financial relief when they need it most.

Coverage You Can Count On:
During the application process, licensed agents will conduct a simple phone interview to determine your coverage needs and explain your policy options. This assessment helps determine the right coverage amount and policy type for your situation. The process is designed to be quick and easy, with many applicants receiving approval within hours or days.

Final expense insurance costs vary based on several factors including your age, health status, coverage amount, and the type of policy you choose. Monthly premiums typically range from $30 to $200 depending on these factors. For example, a healthy 60-year-old might pay $50-75 per month for $10,000 in coverage, while an 75-year-old might pay $100-150 for the same amount. Guaranteed issue policies tend to have higher premiums since they don't require medical underwriting.

The cost of final expense insurance is significantly less expensive than leaving your family with thousands of dollars in funeral and burial expenses. The average funeral costs between $7,000-$12,000, and many families also face additional expenses like outstanding medical bills, credit card debt, and estate costs. A small monthly premium can prevent your family from facing financial hardship during an already difficult time.

Many final expense insurance policies do not require a medical exam. There are three main types of underwriting for final expense coverage:

Simplified Issue: These policies require you to answer health questions but do not require a medical exam. If you're in relatively good health, this option typically offers the best rates and immediate coverage.

Guaranteed Issue: These policies require no medical exam and no health questions. Everyone who applies within the age range (typically 50-85) is accepted. However, these policies usually have higher premiums and may include a graded death benefit period (usually 2-3 years) where full benefits aren't paid if death occurs during that time.

Fully Underwritten: These policies may require a medical exam and offer the lowest premiums for those in excellent health. While less common for final expense insurance, some carriers offer this option.

Final expense insurance provides a death benefit that your beneficiaries can use to cover various end-of-life expenses, including:

Funeral Services: Viewing, memorial service, clergy fees, transportation of remains

Burial or Cremation: Casket or urn, burial plot, headstone, cremation fees

Outstanding Medical Bills: Hospital bills, nursing home costs, prescription expenses

Credit Card Debt: Any outstanding balances that would become your estate's responsibility

Legal Fees: Probate costs, attorney fees, executor expenses

Other Final Expenses: Flowers, obituary costs, death certificates, travel expenses for family members

Your beneficiaries receive the death benefit as a lump sum and can use it for any purpose they choose. There are no restrictions on how the money is spent, though it's typically used to cover the expenses listed above.

The amount of final expense coverage you need depends on several factors. Here are some guidelines to help you determine the right coverage amount:

Basic Funeral & Burial: $7,000-$12,000 covers a traditional funeral service and burial or cremation

Funeral Plus Outstanding Bills: $15,000-$25,000 covers funeral costs plus outstanding medical bills and credit card debt

Comprehensive Coverage: $30,000-$50,000 covers all final expenses plus leaves additional funds for your family

To calculate your specific needs, consider:

• Average funeral costs in your area (typically $7,000-$12,000)

• Outstanding medical bills and prescriptions

• Credit card and personal loan balances

• Your mortgage balance or rent obligations

• Travel expenses for out-of-town family members

• Any additional financial support you want to leave your family

Our licensed agents can help you calculate the right coverage amount based on your specific situation and budget.

When your coverage begins depends on the type of policy you purchase:

Immediate Coverage: Simplified issue policies that require health questions typically provide full coverage from day one. If you pass away at any time after your policy is active, your beneficiaries receive the full death benefit.

Graded Death Benefit: Guaranteed issue policies (no health questions) usually have a graded benefit period, typically 2-3 years. During this time:

• If you die from an accident, your beneficiaries receive the full death benefit

• If you die from natural causes during the graded period, your beneficiaries receive the return of premiums paid plus interest (typically 10%)

• After the graded period ends, full coverage applies regardless of cause of death

Your insurance agent will explain the specific waiting period and coverage details for your policy before you apply.

Most final expense policies have fixed coverage amounts, but you do have options if your needs change:

Increase Coverage: You can usually apply for additional coverage at any time, though it will require a new application and may be subject to new underwriting (health questions or exam depending on the policy type). Your premium will increase based on your current age and health status.

Decrease Coverage: Some policies allow you to reduce your coverage amount, which would lower your premium. However, not all policies offer this option, so check with your insurance company.

Purchase Multiple Policies: Many people choose to purchase multiple smaller policies instead of one large policy. This gives you flexibility to cancel individual policies if your needs change, while maintaining some coverage.

It's generally recommended to purchase enough coverage initially, as premiums increase with age. Waiting to buy additional coverage will typically cost more than buying adequate coverage from the start.

If you stop paying premiums on your final expense policy, here's what typically happens:

Grace Period: Most policies have a grace period of 30-31 days. If you miss a payment, you have this time to catch up without losing coverage. Your policy remains active during the grace period.

Policy Lapse: If you don't pay during the grace period, your policy will lapse (terminate). You'll lose coverage and won't receive any death benefit. Most term and final expense policies do not have cash value, so you won't receive a refund of premiums paid.

Reinstatement: Some insurance companies allow you to reinstate a lapsed policy within a certain timeframe (usually 2-5 years). Reinstatement typically requires:

• Payment of all overdue premiums plus interest

• Proof of continued insurability (answering health questions)

• Payment of any applicable reinstatement fees

Whole Life Policies: If you have a whole life policy with cash value, you may have additional options such as using the cash value to continue coverage or converting to reduced paid-up insurance.

When you pass away, your beneficiaries need to file a death claim with your insurance company. The process typically works as follows:

Step 1: Notification
Your beneficiary should contact the insurance company as soon as possible after your death. They'll need your policy number and basic information about the policyholder.

Step 2: Submit Documentation
The insurance company will require:

• A certified copy of the death certificate

• A completed claim form

• Proof of identity (driver's license or passport)

• Original policy documents (if available)

Step 3: Review and Processing
The insurance company reviews the claim, which typically takes 30-60 days. They verify the policy was active and all information is accurate.

Step 4: Payment
Once approved, beneficiaries receive payment via check, direct deposit, or retained asset account. Most claims are paid within 30-60 days of receiving all required documentation.

Important Tips:

• Keep your beneficiaries informed about your policy and where documents are stored

• Update beneficiary information when life circumstances change

• Consider keeping important documents in a safe deposit box or fireproof safe

• Provide your attorney or executor with policy information