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Final expense insurance is a life-long policy that pays funeral expenses and medical bills when you die. It is also known as funeral insurance or burial insurance. It is a popular choice with seniors.

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Seniors love final expense insurance for its low price and minor benefits. They also like the emphasis on funeral costs.

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There are many choices for final expense plans. But which plan is right for your family? Which plan will give you the most protection for your family's health? Which will settle your claim first? Which service will you use to assist your family with the funeral arrangements? These are critical questions to think about before you decide on a provider.

It is also more affordable than other types of insurance policies. Because it's usually used to cover funeral expenses, the coverage amount can be much lower than traditional policies. Average people insure themselves between $10,000 and $20,000. This makes it more affordable to purchase a final expense policy than larger policies.

Many of you have witnessed the death or ill health of a loved one. You remember how stressful it was having to manage your grief, funeral planning, finances, and other obligations. It is almost unbearable to think about our spouses or kids going through the same thing.

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So what is the best way to get final expense life assurance? What can be done to ensure that our families are not burdened financially? How can we help them not be left with a pile bills when we are gone?

This type of insurance doesn't only apply to seniors. Read more about affordable, long-term life insurance that is affordable for anyone over 50. Consider taking out a life policy if you worry about your loved ones not being prepared for the inevitable. Life insurance can be purchased for parents and children. Multiple quotes can be helpful, including a final expenses quote. This will allow you to decide what type of life coverage is best for your needs.

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Easy qualification. The coverage amount of some final expense policies is less expensive than other types. This means that you don't need to take a medical exam in order to be eligible. Most procedures can easily be issued based upon answers to the health questions in the life insurance application.

Simplified issue: Usually, there is no need for a medical exam (also known as a life insurance exam), but only health questions are required.

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Seniors can get burial insurance to help them protect themselves from rising funeral costs. Because it is based on answers to medical questions, it is often easy to get. You don't usually need to undergo a medical exam in many cases.

Many people have been through the loss of a loved ones and can recall how difficult it was to manage grief, funeral planning and financial obligations. It is difficult to imagine our spouses or children experiencing the same thing.

Traditional life insurance is often used for a way to leave your family enough money in the event of your death. It usually pays a proportionate amount to the income your family would be without your death. Term insurance can replace income up to the millions.

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How can final expense insurance help? How can we protect our loved ones from financial hardship? What can we do to ensure that our loved ones don't end up with a mountain of bills after we die?

A medical exam is not required in most cases. The face amount is usually under $50,000. The answers to the health questions are usually what determine whether coverage is granted.

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Frequently Asked Questions

Final expense insurance is a life insurance policy that has a lower death benefit, usually intended to cover final expenses and burial costs. Also known as burial insurance or funeral insurance, it's designed for older adults who are ready to make end-of-life plans, typically age 50 and older.

What is the average cost of final expense insurance? Final expense insurance premiums could cost around $20 or more per month, depending on your age and the policy you choose. However, everyone's premiums will vary based on personal conditions.

A final expense policy can offer peace of mind and ease the financial burden on your family while they're grieving. And since it usually doesn't require a medical exam, it's a good option if you have a pre-existing condition that prevents you from getting a traditional term or whole life policy.

Does Final Expense Have a Cash Value? Final expense insurance does allow for a cash value to build because it's a form of a whole life insurance policy. However, the savings must accrue, and there are some things to keep in mind when you want to borrow against the cash value.

Most families will use cash, check or credit card to pay for all or part of the funeral expenses. Most funeral homes today expect payment in full up-front. Sometimes you can pay a portion using an installment plan negotiated with the funeral home.

Final expense insurance can cover a number of costs. This allows loved ones to use the benefits for the expenses they need to pay, as opposed to just covering burial costs. This coverage includes common final costs, such as medical bills, probate or legal fees, and other expenses other policy types don't cover.