What is Final Expense Insurance?

Final Expense Insurance is a type of insurance policy that is used to cover the costs of burial expenses and funeral services when the named insured individual passes away. This type of policy can help ease the financial burden placed on a family when a loved one dies.

Final Expense insurance is a basic issue life insurance policy that covers individuals until they reach 100 years old. It is similar to universal life insurance and is sometimes referred to as graded life or burial insurance with easy issue permanent coverage.

As an affordable insurance option, final expense coverage can be used to cover the funeral and burial costs of the policyholder. Many people choose to take out burial insurance policies to avoid placing a financial burden on their families for these costs.

Burial premiums may initially be higher than other forms of insurance due to their cash value features. However, an important advantage of burial premiums is that they are fixed, meaning they remain the same even if the policyholder’s health deteriorates.

Final Expense coverage can pay for expenses related directly to the named insured’s funeral, including the casket, funeral service, visitation/viewing, hearse, digging and filling the grave, the cemetery plot, burial vault or grave liner, minister, headstone, flowers, and other related expenses.

Contact us to learn more about finding the right final expense coverage for you.