Term Life Insurance
A fixed amount for a fixed number of years, at the lowest cost per dollar of cover.
Read more →Life & Health
Final Expense
A small permanent policy sized for funeral, burial and last medical costs.
What this cover does
Final expense is whole life in a smaller package, usually between 5,000 and 40,000 dollars, underwritten with simplified questions and no exam. It exists so a family is not settling a funeral invoice during the week of a funeral.
Typically included
- Permanent cover that does not expire
- Level premium for life
- Simplified or guaranteed-issue underwriting
- Fast payout to the named beneficiary
- Cover payable for any purpose, not restricted to funeral costs
Common add-ons
- Guaranteed acceptance with a graded benefit period
- Accidental death multipliers
- Cover for a spouse on the same application
Questions
What people ask about final expense
Will I be accepted?
Guaranteed-issue policies accept everyone within the age band, with a graded benefit that pays premiums back plus interest if death occurs in the first two or three years. Simplified-issue asks health questions and pays in full from day one.
Is it the same as a prepaid funeral plan?
No. A funeral plan buys specific services from a specific provider. This pays cash to your beneficiary, who can use it for anything.
Often taken together
Related cover
Whole Life Insurance
Permanent cover with a guaranteed death benefit and a cash value that builds.
Read more →Quote Final Expense
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