Why Final Expense Insurance?
According to the National Funeral Directors Association (NFDA), the median cost of a funeral with casket and burial in 2023 ranges from $7,848 to $8,300. The median cost of a funeral with cremation is between $5,810 and $6,280. These costs can place a significant financial strain on families.
Affordable and Accessible Coverage
Final expense insurance is one of the most affordable types of life insurance, with coverage amounts typically ranging from $1,000 to $50,000. These policies are available as Whole Life or Term Life plans, providing flexibility to cover the entire life of the policyholder or a specific period, respectively.
There is no one-size-fits all solution for coverage and a professional, established carrier knows this. Plans can be tailored to your needs, be it premium schedules, payment flexibility, policy protection, loan availability, or customized riders for accidental death or charitable donations.
Who Is Eligible?
Final expense insurance is available to individuals from 0 to 85 years old. Different life insurance carriers may require different qualifications for their policies. Some carriers require immediate access to a client’s medical records for review or an at-home visit from a medical provider.
Senior Life, makes qualifying more straightforward with no need for medical exams or bloodwork. We offer plans for everyone, regardless of pre-existing conditions or medical history.
How Does It Work?
Whether you choose a Whole Life or Term Life policy, the coverage amount will be paid to your beneficiary upon your death. You may designate both Primary and Contingent Beneficiaries. The coverage amount will be paid to your Primary Beneficiaries. In the event your Primary Beneficiaries have passed, the benefit will instead be paid to your Contingent Beneficiaries
What Does It Cover?
The proceeds from final expense insurance can be used to cover:
- Funeral services and casket costs
- Cemetery expenses
- Mortgages and credit card bills
- Travel costs if you die outside your home country
- Vault fees, and more
Final expense insurance offers peace of mind, knowing that your loved ones will not be burdened with significant expenses after your passing. If you are considering securing your family’s financial future, explore final expense insurance policies today.
You can get a free quote with Senior Life and find the plan that best fits your needs and budget.
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