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Final Expense Life Insurance

Life Insurance
Final Expense Life Insurance - What Is It?
Final Expense Life Insurance is a type of Whole Life Insurance that has the intent to cover "final expenses" such as:

  • Funeral & Burial Costs
  • Credit Debt
  • Outstanding Medical Bills
  • Car Loan Payoff
  • Home Repairs
  • Charitable Gift Giving
  • & More

The Death Benefit is paid out on a tax-free basis to one or more named beneficiaries. Insurers place maximum coverage limits for this type of life insurance - usually under $60,000.


We offer free assistance in shopping for a final expense life insurance plan. We'll help you find a plan that delivers the most value for your dollar. If you are interested in a different type of life insurance coverage (e.g. term or universal life) - CLICK HERE.

Common Characteristics of Final Expense Policies
  • Premium Rates Guaranteed Not to Increase
  • Cash Value Accumulation, accessible when you need it
  • Benefits Never Decrease
  • No Medical Exams to Qualify
  • Renewable for Life

FINAL EXPENSE INSURANCE ELIGIBILITY
Eligibility criteria varies from carrier to carrier but, generally, if you're between the ages of 45-85 then you may be eligible to enroll into a Final Expense Insurance Policy. Each carrier issues their coverage based on your health profile which is assessed via a series of questions. For verification, the insurance carrier will usually perform a prescription background check and make a query to the Medical Information Bureau to gather more information to help determine your eligibility for the insurance policy. Generally speaking, the less health screening that is involved = higher premium levels and easier opportunity to qualify.

The basic Final Expense Insurance Plan is also referred to as a Level Benefit Plan. If your health profile doesn't meet the requirements for a Level Benefit Plan then you may be offered a Graded Benefit or Modified Benefit Plan. Graded and Modified Benefit Plans pay a reduced coverage amount, during the first couple of policy years. The cost for Graded and Modified Plans are also, usually, greater than for Level Plans.

Note that rates are set based on the applicant's age, gender, tobacco use, and health status.

MEDICAID ELIGIBILITY AND FUNERAL TRUSTS
Are you looking at Medicaid eligibility? Pre-Pay your funeral and possibly protect your assets from Medicaid "spend down" requirements. Ask us about how we can set this up for you.


Will your family need to use a program like GoFundMe to cover your final expenses? Will the charity of friends and family be needed during a difficult time?

OR     

Will you already have everything covered and everyone will know that you thoughtfully took care of your family?

 
Funeral Costs & Shopping Tips
According to 2010 data, The National Funeral Directors Association says that the average cost of a funeral is $7,755. That price doesn't include things like the cost of the cemetery plot, flowers, headstone, and other costs.

Get all the details on funeral services by requesting your FREE copy of "Shopping for Funeral Services". Published by the Federal Trade Commission, this guidebook explains the FTC Funeral Rule, types of funerals, how to choose a provider, outlines funeral costs, and contains other key terms and information.


ADDITIONAL POLICY FEATURES
Riders may be available as free or fee-based extras on Final Expense Policies.

A Non-Forfeiture Rider can be offered in the form of Reduced Paid-Up Insurance or as Automatic Premium Loans. A Reduced Paid-Up Insurance benefit allows you to settle on a reduced death benefit amount that is fully paid for - no more payments. Automatic Premium Loans allow you to automatically borrow from the policy's cash value to pay for premium payments, this can be helpful if you forget to make consecutive payments outside of the policy's grace period.

An Accelerated Death Benefit can be included or come as an optional policy rider, it is triggered if you are diagnosed with a terminal illness. Basically, while you are still alive and having been diagnosed with a terminal illness, the policy pays out a portion of the face value to you. Some Accelerated Death Benefits are also triggered with a qualifying Nursing Home Stay.

Check with your agent to better differentiate between policies.

Single Premium Whole Life
Traditional Final Expense policies are paid over one's lifetime but you can also find policies where you pay for a limited period of time (e.g. 10 or 20 years) and some can even be set up with ONE single payment!

Do you have a set amount of money set aside for end-of-life expenses? Maybe it's in a CD or savings account?


Discover how you can immediately increase the size of your estate and either meet all your final obligations or pass on wealth to your named beneficiaries - TAX FREE!

This is a financially efficient method of taking care of your final expenses.


FOR ALL YOUR LIFE INSURANCE NEEDS...
REQUEST INFO HERE
Final Expense Policies Offered From:
FINAL EXPENSE CONSULTATION REQUEST
To request a free consultation, please submit this form. One of our independent insurance agents will contact you within 48 business hours, if not sooner. If you provide an e-mail address, please check your spam and junk mail folders for our correspondence.

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YES, Send me the funeral guide
NO, Let's discuss my options but I don't need the funeral guide







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The section below will help us identify plans
that you may qualify for:




 Emphysema (COPD) Parkinson's Disease
 Liver Disease Diabetes Requiring Insulin
 Kidney Disease Oxygen Therapy to Assist in Breathing

 Internal Cancer Heart Attack or Heart Surgery
 Malignant Melanoma Congestive Heart Failure
 Leukemia Stroke
 Alcohol or Drug Abuse Aneurysm
 Alzheimer's Disease Kidney Dialysis
 Had an Organ Transplant

YesNo

YesNo
IF YOU HAVE ANY ISSUES, PLEASE CALL 847-668-9194
 
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