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What is Final Expense Insurance
Permanent insurance coverage purchased to pay for the various costs associated with a your death is called final expense insurance. Most final expense insurance policies are available in face amounts of $2,500 to $50,000, depending upon your age at application.
Premiums are level and the policies usually accumulate cash value. Thus, each insured is able to tailor a final expense insurance policy to meet his or her needs. In some cases, though, final expense insurance is available in higher face amounts.
A death benefit is payable upon the insured's death. This form of life insurance protects your loved ones while providing for final expenses.
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In many states, we also have companies that will offer final expense insurance with no medical questions or just a few. These plans generally have limited benefits in the first two or three years of the policy, but they are excellent final expense insurance coverage for those who have no other options due to health conditions.
Generally, people do not wish to think about funeral and burial costs until a loved one has passed on. Good financial planning includes reviewing these costs and covering them with final expense insurance.
The average cost of a funeral and burial can be between $7,000 and $10,000 dollars. In fact, many "average" funerals exceed these figures by several thousand dollars. In addition to burial expense, there can be additional expenses associated with the cost of dying. Following are some of the more common expenses.
Final Expense Insurance Can Pay These Costs
- Professional Service Charges
- Embalming
- Other Preparations (Cosmetology...)
- Funeral Service
- Visitation and Viewing
- Hearse
- Transfer of Remains
- Burial Vault
- Casket
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- Grave Marker of Monument
- Cemetery Plot
- Cemetery Fees
- Acknowledgement Cards
- Flowers
- Probate/legal fees
- Doctor Bills
- Outstanding Debts
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Licenses to sell final expense insurance:
Ohio License #104233, California License #0C94325, Florida License #D072714
Alabama, Arizona, Arkansas, Colorado, Connecticut, Delaware, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Michigan, Minnesota, Mississippi, Missouri, Nebraska, Nevada, New Jersey, New York, North Carolina, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin
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