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Final expense insurance is a kind of life insurance. You purchase a policy, and when you pass away, a death benefit is paid to your loved ones.
Final expense insurance is a smaller permanent life insurance policy that is designed to help seniors’ families afford funeral costs and cover end-of-life expenses. These plans are sometimes called funeral insurance or burial insurance for this reason.
Final expense plans tend to provide a payout to help loved ones pay for funerals, cremation, burial, and other expenses, like doctor and hospital bills. These benefits never expire as long as you pay your premiums on time. Therefore, you can trust that your final expenses will be covered, removing the burden from your family.
Final expense insurance is typically used to pay for end-of-life expenses. While the money can be used by the beneficiary for any purpose, it is most often spent based on the desire and expectations of the deceased. If you are concerned about how your death benefits will be spent after you die, there are steps you can take to ensure that it is spent in a way you see fit. We know you want to leave a legacy you are proud of.
Final expense insurance is best for older adults who don’t have significant assets. If you have a lot in savings, your funeral costs may not be of great concern. Though, for those who don’t have assets put away, this cost may be worrisome and keep you up at night. Too many Americans live paycheck to paycheck…
To get peace of mind as you age, it helps to have some form of life insurance. While you may not qualify for traditional life insurance, you still have options. Final expense insurance gives you the chance to get covered even if you have adverse health conditions.
To learn more about allocating your final expense death benefits, get in touch with an insurance broker from Overton Agency. Call 501-881-2050!
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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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