Final Expense Insurance

What is final expense insurance?

It's a permanent whole life policy with a modest benefit, paid in cash to the person you name. The premium is fixed for life, and the policy stays in force as long as it's paid. Because the amounts are smaller, carriers keep the application short.

Most plans are simplified issue: a short set of health questions and no exam, with a decision in days and sometimes the same day. For people who can't pass the questions, several carriers offer guaranteed issue, which asks nothing about health but pays a graded benefit in the first 2 years.

Who final expense is for

• People between about 50 and 85 who want to know a funeral is paid for.
• Anyone who wants to spare their family an unexpected bill at the worst time.
• People who've been declined for larger policies because of age or health.
• Families who want a simple policy with a fixed premium and a benefit that doesn't change.

What it helps cover

The benefit goes straight to your beneficiary, who can use it for whatever matters most: the funeral, burial or cremation, medical bills from a final illness, a credit card or car payment, travel for family, or a few months of a household bill. It isn't tied to a funeral home, and the money is usually paid within days of a claim.

Why work with an independent agency

Final expense products and their health rules differ widely between carriers. The same 72-year-old with controlled diabetes can be declined by one, offered a graded benefit by a second and approved at a standard rate by a third. Because we quote across carriers, we place you with the one whose rules fit before you apply, so the first answer is more often a yes. The carrier makes the decision; our job is to know which carrier to ask.