Final Expense Insurance: The Basics

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Final Expense Insurance: The Basics

Final expense insurance is a coverage that a person pays the premium for his/her funeral services like burial, cremation, and all costs like caskets, urns, and so on. It is a type of permanent life insurance where death advantage is provided to cover medical cost and end of life expenses.

The most critical stage of questioning is who would take care when you are at the brink of dying. Although the answer may not be comfortable, somehow, you come to the point when you decide to have prepaid your funeral and burial expenses so that your loved ones do not have to worry about covering such costs.

Final expense insurance coverage provides and guarantees death advantage ranging in between $2,000 to $50,000. As long as you pay your monthly, quarterly or annual premiums regularly that's required by the policy contract, the amount is never reduced and you don’t need to borrow an amount against the policy. can help you find the right final expense insurance plan available.

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Who Need Final Expense Insurance?

If you’re over the age of 40 and need money to cover your final expenses and funeral costs, final expense insurance is a perfect fit. Because the death benefit of the policy tends to be less than the benefit of traditional life insurance, the insurance premiums tend to be more affordable for those who live on a fixed budget. This makes it an attractive option for seniors looking to cover their end-of-life expense because it’s a kind of permanent insurance, doesn’t expire if premiums are paid and it accumulates a cash value over time.

Pre-Qualifying Questions

Here are some example questions you may have to answer on the the application when applying for final expense insurance. :

  • Have you tested positive for HIV or AIDS?
  • Are you currently bedridden, hospitalized, in a care facility, or receiving hospice care?
  • Do you have disease of the heart, including heart attack or heart surgery?
  • Do you have congestive heart failure?
  • Do you have disease of the circulatory system, including stroke?
  • Do you have cancer?
  • Have you had alcohol or drug abuse?
  • Do you have Alzheimer’s disease or dementia?
  • Are you taking medication or been treated by a physician for any of the conditions above in the last 2 years?

Even if you answer “yes” to one or more of these questions, you may still qualify for coverage. With final expense life insurance, most people can get coverage even if they’ve had health issues. Shop for affordable final expense insurance rates with Get Insured Online. You can apply online or call our insurance hotline. 

Benefits Level

Most final expense insurance policy amounts are under $50,000, but the average policy is taken out for $10K – $20K. The exact insurance benefit amount will vary depending on the status of your health and what you’re looking to protect. If you qualify for a modified insurance plan, your final expense coverage amount may be less than a traditional policy. Final expense modified plans are issued to applicants with higher health risks and with a 2-3 year waiting period. They are typically issued to applicants with one or more health problems or if the applicant is taking certain prescriptions. If the insured passes during this period, the beneficiary will usually receive all of the insurance premiums paid into the policy and a small additional percentage.

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