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Planning for the future means planning for end-of-life expenses, such as a funeral, burial, cremation, or other costs. If you don’t, your loved ones will have to shoulder the load. And honestly, they probably have many bills of their own!
Final expense insurance can help make it a little easier on your family—financially—while they are already going through a difficult, emotional time.
Final expense is a form of life insurance that provides a small death benefit upon the insured’s death. This benefit is not designed to replace your full income. Instead, final expense death benefits are typically allocated for your funeral expenses and medical bills.
Also known as “burial” or “funeral” insurance, it’s easy to qualify for—because pre-existing conditions are ok. No medical exam is required. So if you cannot get a competitive rate or do not qualify for a standard life insurance policy, consider final expense coverage.
It’s also purchased by those who had a term life policy that expired and/or no longer have life insurance through their employer.
The payout of a final expense policy is often used to pay funeral, cremation, or burial costs. In some cases, the insured can choose to have their death benefits go directly to the funeral home that will be carrying out their ceremony. Otherwise, the death benefit can go to an individual beneficiary, such as a family member or spouse. From there, it is the beneficiary’s responsibility to use the funds for the expected purpose.
Overton Agency is here to help you find a life insurance policy that fits your needs and budget. As independent, licensed agents, we work for YOU; not the insurance companies, so you can trust us to guide you through each step of the buying process. It’s the personalized service that you deserve—and you won’t get this from a 1-800 number or typical website.
Whether you have questions about final expense insurance, want more policy details, or just want to discuss your options, contact us today. We offer a consultation and free quotes.
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We are not connected with or endorsed by the United States government or the federal Medicare program. We do not offer every plan available in your area. Currently, we represent 8 organizations which offer 72 products in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance program (SHIP) to get information on all your options.
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