Final Expense Insurance: Everything You Need to Know
How does Life Insurance Network work?
What is final expense insurance?
Permanent Life Insurance: Final expense insurance is a permanent policy that stays in force for your lifetime, as long as you pay the premiums.
Death Benefit for Any Purpose: The beneficiary receives a tax-free payout that can be used for funeral and cremation services, final medical bills, unpaid debts (like a mortgage), or any other expenses.
Direct Payment to Funeral Home: You can choose to make a funeral home the policy beneficiary, so they receive payment directly to cover your final arrangements.
No Medical Exam Required: Unlike other life insurance types, you only need to answer a few basic health questions to qualify.
Guaranteed Approval: Everyone who applies is approved, regardless of health status, making it accessible for seniors and those with health issues.
Cash Value Growth: Final expense policies build cash value over time. You can borrow against this cash value like a personal loan. If you don’t repay it, the amount is deducted from the final death benefit.
Good Option for Seniors or High-Risk Applicants: Ideal for people who might not qualify for term life insurance due to age or health concerns.
Limited Coverage Amount: Final expense policies typically have lower coverage limits than term or whole life insurance, which might not be enough for larger financial needs.
Thinking about final expense insurance?
- Guaranteed Approval:
- Everyone who applies can get approved, unlike other types of life insurance.
- Great for seniors or people with health concerns.
- Ideal for Seniors & Those with Pre-Existing Health Conditions:
- Final expense insurance is often recommended for seniors who may not qualify for traditional life insurance due to their age.
- It’s also a good fit for people with pre-existing conditions or a family medical history that could disqualify them from a standard policy.
- Covers Funeral and End-of-Life Costs:
- Burial and cremation services can be expensive.
- Final expense insurance provides peace of mind, ensuring your loved ones don’t have to use their own savings to cover these costs.
- Not Always the Best Fit:
- Final expense coverage offers limited death benefits compared to term life or whole life insurance.
- If you’re young and healthy, you might qualify for a term life insurance policy with more coverage and a lower premium.
- Explore Your Options:
- Visit The Life Insurance Network’s guide to life insurance at different ages for help choosing the best type of coverage for your stage in life.
- Visit The Life Insurance Network’s guide to life insurance at different ages for help choosing the best type of coverage for your stage in life.
How much is final expense life insurance?
Final expense life insurance premiums are personalized and based on:
Location
Age
Gender
General health
Tobacco use
Credit history
While no medical exam is needed, your health questionnaire answers help determine your coverage amount and premium. Final expense insurance usually costs more than term life insurance because everyone gets approved, including seniors and those with health issues. The higher the coverage, the higher the premium.
How to get Final Expense insurance from The Life Insurance Network
Getting whole life insurance through The Life Insurance Network is fast and easy. Coverage is available for seniors aged 66-85 with no medical exam required.
Simply provide basic info about yourself and your health to see your estimated rate and coverage amount ($1,000–$30,000).
You can buy a policy online, and coverage starts immediately after your first payment. Your rate stays the same, and coverage lasts for life as long as you keep paying.
While we don’t offer insurance specifically for final expenses, our policies can be used by your beneficiary for any purpose.
For help or questions, call us or email support.
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